If you’re shopping for a new mortgage, you may read around a lot of scepticism concerning the variable-rate. Are they an unnecessary gamble? On the plus side, you may win for at least a year or two by taking the chances; but after that, it’s finger-nail biting time. Years 4 and 5 could prove very…
We begin March with a much longer read, but hold on tight… it’s important and mostly good news! After a long ‘protest’ and waiting time, policy-makers are finally righting a wrong in the mortgage market! As of the 6th April, Canadians applying for default-insured mortgages will no longer have to go through the infamous “stress test.”…
The ultra-low mortgage rates that we have been seeing lately in the real estate market are not only benefiting homebuyers. Current homeowners wanting to save more money on their monthly mortgage loan payments are taking advantage of low interest rates by refinancing. However, saving on mortgage rates is not the sole good reason to consider refinancing. The…
What is Mortgage Renewal Time? Unless you can come up with the cash to pay off your remaining balance of your mortgage in your first term, it is time for a mortgage renewal. In simple terms, a mortgage renewal is the process of taking the outstanding balance of your mortgage and renewing it for another…
