Homebuying is always a stressful time. No couple or family wants a mishap with their hard earned monies before seeking an approval for the loan they desire so much. New mortgage rules meant to protect consumers from bad lending practices may have another impact – forcing home buyers to get their financial house in order. Borrowers’ income,…
The interest rate is often a yo-yo game, so any kind of loan you take is going to be a gamble! That five-year mortgage you locked in at an interest rate of 3.19% seemed like a pretty good deal two years ago. But the fixed rate is now sitting at 1.99%, even less for a…
Canada’s accumulated mortgage debt in 2020 was equivalent to a significant portion of its gross domestic product, according to the central bank. Figures from the Bank of Canada showed that outstanding mortgage credit increased by $111.12 billion in the 12 months ending January 2021, representing “more than 5% of GDP at the annual rate,” said real estate…
So in late 2017, the financial world was sent into ‘chaos’ when Bitcoin surged again as a trend, which looks set to stay. Almost everybody around the world with some money to spare decided it could be a good idea to jump into the cryptocurrency bandwagon. But how does Bitcoin work exactly? Bitcoin is a…
It has been a while since we have touched back on this topic, and given summer is a season where many transactions take place in the real estate market, we thought it could be a good idea to remind upcoming homebuyers of the process behind a future purchase. A mortgage…
