Posts from the ‘Borrower Beware’ Category
Last Updated on January 10th, 2021
This post explains how fixed-rate mortgage penalties are calculated – an often overlooked detail that can have a huge impact on your borrowing cost over time.
Last Updated on July 8th, 2020
Many people think that the differences in how lenders calculate fixed-rate mortgage penalties are a non-issue now that rates have fallen to ultra-low levels. Nothing could be further from the truth.
Last Updated on December 12th, 2018
A newly released report by the Bank of Canada called “Discounting in Mortgage Markets” gives us some very useful insights into how much lenders are discounting their mortgage rates and for whom. Today’s post summarizes the report and offers my interpretation of the results.
Last Updated on November 9th, 2017
Today’s post challenges Finance Minister Flaherty to keep the promise he made in his 2010 federal budget, and address the lack of lender disclosure around fixed-rate mortgage penalties.
Last Updated on December 10th, 2018
TD Bank will now register its fixed-rate mortgages as collateral charges and will offer you the option of registering your mortgage at 125% of the current value of your home. Should you take this offer, or run?
Last Updated on November 12th, 2017
If you have ever renewed a mortgage then you have inadvertently taken the bank’s “laziness test”. Did you pass? To find out, check out today’s post.