Posts from the ‘Opinion’ Category
How Savvy Canadians Are Saving Thousands on Their Mortgages
Monday Morning Interest Rate Update for October 28, 2019
Today’s post illustrates the value of a fixed-rate mortgage’s flexibility.
Is Your Mortgage Lender About To Go Bust?
Monday Morning Interest Rate Update for May 1, 2017
As last week’s debacle at Home Capital Group was unfolding several of my clients who had borrowed from other non Big-Five bank lenders called me to ask if their lender was now in danger of going bust and wondering what, if anything, they should do. In today’s post I’ll provide a summary of the clear message I gave to them, and include my take on five key questions relating to last week’s events.
What Canada’s Fifth Round of Mortgage Rule Changes Mean For You – Part One
Last Updated on November 6th, 2017
Yesterday our federal Finance Minister Bill Morneau announced a series of changes to the rules used to underwrite insured mortgages. There is a lot to unpack so I’ll do it in three installments: Part One will focus on the change that will take place on October 17, Part Two will cover the changes that will take place on November 30, and Part Three will offer my take on the longer-term impacts that these changes will have on Canadian borrowers and our housing markets across Canada.
How to Build Your Mortgage Bunker (while you still can…) – Part 2
Last Updated on March 5th, 2019
Welcome to Part 2 of How to Bunker Proof Your Mortgage (While you still can…). It explains how conventional borrowers can make a second tweak to their next mortgage (at no cost) that will give them tremendous financial flexbility.
How to Build Your Mortgage Bunker (while you still can…) – Part 1
Last Updated on November 7th, 2017
Today’s post explains how conventional borrowers can make a tweak to their next mortgage (at no cost) that will give them much more flexibility than they may have thought possible.
Rate Simulations: The Five-Year Fixed Rate Versus The Ten-Year Fixed Rate
Last Updated on March 5th, 2019
In today’s interest-rate environment the age-old debate about fixed versus variable rates has been supplanted by a new question: Should I take a five-year fixed rate or a ten-year fixed rate? Today’s post runs three different rate simulations to help you weigh both options.
The Magic of Five Percent: A New Year’s Resolution Worth Keeping
Last Updated on July 9th, 2020
Here is a New Year’s resolution that will dramatically improve your financial fitness.
Would You Save More With a Fixed or Variable-Rate Mortgage? (Rate Simulator – 2011 Year End Edition)
Last Updated on November 8th, 2017
In today’s post, we run simulations to compare the cost of fixed and variable-rate mortgages under different interest-rate projections using current market rates.
Would You Save More with a Fixed or Variable-rate Mortgage: Back to School Edition
Last Updated on November 9th, 2017
It’s time to check back in with our Mortgage Rate Simulator. In today’s post we run simulations to compare the cost of fixed and variable-rate mortgages under different interest-rate projections.
Mortgage Secrets from an Independent Mortgage Broker
Last Updated on February 27th, 2020
Independent mortgage brokers don’t just save you money, they give you access to a range of options you probably didn’t even know you had. Today’s post explains.
Would You Save More with a Fixed or Variable-rate Mortgage? (Rate Simulator)
Last Updated on November 9th, 2017
Mortgage rates have been on the move lately, causing many borrowers to re-assess the trade-offs of fixed-vs-variable. Today’s post gives you an inside look at a tool I use to help clients work through this process – I call it my Mortgage Rate Simulator.
The Best Mortgage Product No One is Talking About
Last Updated on December 14th, 2018
Conservative borrowers who prefer fixed rates almost always choose a five-year term. In today’s environment, I think there’s a much better deal to be had, even if no one is talking about it. In today’s post, I make my case.
Refinancing Your Mortgage: Is Now a Good Time?
Last Updated on April 27th, 2020
Is now a good time to refinance your mortgage? Today’s post offers you three key steps to help you figure it out.
How to Get the Lowest Interest Rate
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.
Mortgage Advice for Couples Planning a Divorce
Last Updated on September 18th, 2018
For anyone planning a divorce, today’s post can help save money and reduce hassle during this difficult time. I offer some general tips and give specific guidance for people who are looking to buy out their ex-spouse’s share of the matrimonial home.
