Posts tagged ‘mortgage advice’
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.
The Mortgage Qualifying Rate (MQR)
Last Updated on November 9th, 2017
Borrowers are often surprised to learn that qualifying for a variable-rate mortgage is harder than qualifying for a fixed-rate mortgage, even though the variable rate is lower. To find out why, check out today’s post.
Refinancing Your Mortgage: Is Now a Good Time?
Last Updated on November 9th, 2017
Is now a good time to refinance your mortgage? Today’s post offers you a step-by-step process for answering this question and includes some useful tips on how to reduce your payout penalty and pay off your refinanced mortgage faster.
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.
Mortgages for New Canadian Immigrants
Last Updated on December 11th, 2018
If you or someone you know is a new immigrant to Canada, you may be surprised at the attractive mortgage options that are available at competitive market rates. To learn more, check out today’s post.
Mortgage Rules Changes for 2011: What They Are, Why They Matter and How They’ll Be Good For Us…in a Brussel Sprouts Sort of Way
Last Updated on November 9th, 2017
When the federal government recently announced changes to CMHC’s rules for high-ratio mortgage insurance, most of my colleagues voiced strong opposition. I respectfully disagree with their assessments, and in today’s post I tell you why.
Winter Mortgage Market Update (2011)
Last Updated on November 9th, 2017
Today’s post is my quarterly update on the state of the mortgage market. It highlights the challenges being faced in the U.S., China and the EU, and assesses the implications for the Canadian economy, and most importantly, our interest rates.
Ed’s Cry for Help – Are More Changes to Mortgage Rules Coming?
Last Updated on November 9th, 2017
Today’s post looks more deeply into our rising debt levels and offers my best guess at the next round of mortgage rule changes that may be coming as a result.
Title Insurance: How It Works and Why You Should Buy It
Last Updated on December 10th, 2018
Title insurance offers a surprisingly broad and inexpensive way to cover yourself against a host of potentially expensive problems relating to your property. To learn more, check out today’s post.
Open vs. Closed Mortgages: The Surprising Winner Is…
Last Updated on December 10th, 2018
Home-equity lines-of-credit (HELOCs) and open variable-rate mortgages are tempting to borrowers because they can be paid off with no penalty. Are they worth it? Using current interest rates, today’s post puts the numbers to the test and compares the cost of open- vs. closed-term financing solutions. As you will see, the results are both surprising and definitive.
Fixed-rate Mortgage Penalties: Paging Mr. Flaherty
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.
Fixed-rate Collateral Mortgages: Good for Banks, Not for Customers
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?
How to Make Your Mortgage Tax-deductible (Part One)
Last Updated on November 10th, 2017
Check out today’s post to learn how to make your Canadian mortgage interest tax-deductible.
Budgeting for a Mortgage
Last Updated on November 10th, 2017
Budgeting is a lot like exercise. Everyone knows it’s good for you but most people procrastinate actually doing it. Today’s post outlines two ways to get on top of your finances: The Easy Way and The Hard Way.
