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Tag Archives | rates

Weekly Advice Series: Using Home Equity to Your Advantage

Using Home Equity to Your Advantage Canadians purchase homes for a variety of reasons. Some want the stability of owning their own home, while others also look at home ownership as an investment vehicle. No matter what the reason, the truth is that home ownership has proven itself to be a good stable investment over […]

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Weekly Advice Series: Choosing Your Mortgage Amortization

Choosing Your Mortgage Amortization 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 period is 25 years, and […]

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Weekly Advice Series: Examining No-Frills Mortgage Products

Examining No-Frills Mortgage Products While No-Frills mortgage products typically offer a lower – or more discounted – interest rate when compared with many other available products, the lower rate is really their only perk. This type of product will only seem ideal for you if you have no plans to take advantage of benefits that […]

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Weekly Advice Series: Tips for Paying Off Your Mortgage Faster

Tips for Paying Off Your Mortgage Faster Mortgages in Canada are generally amortized between 25 and 30 year terms. While this seems a long time, it does not have to take anyone that long to pay off their mortgage if they choose to do so in a shorter period of time. With a little bit […]

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Weekly Advice Series: Understanding Your Credit Report

Understanding Your Credit Report As credit has become more and more abundant in our society, your credit report, and thus your credit rating, has become more important in your daily life. Your credit rating affects all aspects of your financial activities when it comes to borrowing money. Your credit rating also has the ability to […]

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Weekly Advice Series: 10 Most Commonly Asked Mortgage Questions

1. What’s the best rate I can get? Your credit score plays a big part in the interest rate for which you will qualify, as the riskier you appear as a borrower, the higher your rate will be. Rate is definitely not the most important aspect of a mortgage, however, as many rock-bottom rates often […]

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Weekly Advice Series: Getting a Mortgage Pre-Approval (2nd Look)

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 shopping with is actually what you can spend. The mortgage […]

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Weekly Advice Series: Buying vs. Renting

At some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. And purchasing a home is one of the biggest decisions most people ever make. Ultimately, the decision is a personal choice, but it helps to look at the pros and cons of buying […]

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Weekly Advice Series: 10 Questions Every Borrower Should Ask But Often Don’t.

1. If I have mortgage default insurance do I also need mortgage life insurance? Yes. Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home should something tragic happen to you. Mortgage default insurance is something lenders require you […]

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Weekly Advice Series: Refinancing – “When and why should I refinance?”

Refinancing your existing mortgage can make sense for a lot of reasons. Let’s look at some of the most beneficial scenarios, for example. Your old fixed mortgage rate is too high: The fixed rate mortgage that you obtained years ago may be locked in at higher rates than the current rates available on the market. […]

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