Author: Dan

The Bank of Canada left rates unchanged this morning, so no impact on the variable rates. The following is a link to the full press release: http://www.bankofcanada.ca/2014/12/fad-press-release-2014-12-03/ Quick Summary: While both the Canadian and US economies are showing signs of growth, inflation is still within the target range,...

Hybrid mortgages – also known as 50/50 mortgage products – include an equal mix of fixed-rate and variable-rate components within your single mortgage. This means you get the best of both worlds – the security of fixed repayments with the flexibility of a variable rate. Although...

There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollarsin mortgage business each year to Canada’s largest banks,...

It’s easy to get caught up in the idea that comparing mortgage rates will guarantee you get the best bang for your mortgage buck. While this may be true for particular situations, there are many scenarios where this strategy is not effective. Following are three...

Selecting the length of your mortgage amortization period – the number of years it will take you to become mortgage free – is an important decision that will affect how much interest you pay over the life of your mortgage. While the lending industry’s benchmark amortization...

Transitioning from renter to homeowner is one of the biggest decisions you’ll make throughout your lifetime. That’s why it’s essential to surround yourself with a team of experts – including both a mortgage and real estate professional – to walk you through the steps to...

If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you  shopping for a home, and with that done, the dollar figure you are going...

It’s becoming increasingly apparent that a greater number of women are now taking the reigns when it comes to home purchases. There’s a growing trend among single women – and, more precisely, professional single women – who are becoming independent homeowners. While many of them...

Only 32% of all mortgage borrowers exercise their contractual right to make significant efforts to accelerate repayments, including taking one or more of the following actions in the past year: 16% have voluntarily increased their monthly payments. 15% have made a lump sum (balloon payment) contribution to...

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