PAYMENT FREQUENCY One of the decisions you will need to make before your new mortgage is set up, is what kind of payment frequency you would like to have. For many, sticking to a monthly payment is the default, however, different frequencies may end up saving you less interest over time. Monthly Payments Monthly payments […]

5 REASONS YOU MAY WANT TO CONSIDER A RENT TO OWN PROPERTY With the real estate market continuing to hold steady, many young families are looking for other options to afford a home. Many millennial families still are holding onto the dream of owning a detached home or their own townhouse/condo one day…but the task […]

PRINCIPAL & INTEREST Principal and interest are the two components that make up a mortgage payment. Principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage. Interest is the other portion of your payment which goes directly into the pockets of your lender and does not contribute […]

Housing Market Recovery Continued in October The national housing market continued its recovery in October, according to the Canadian Real Estate Association’s (CREA) recently released report. While sales remain 7% below levels reached during 2016 and 2017, they are 20% above the six-year low reached in February. Transactions are up 12.9% year-over-year and higher in […]

These Homeowners Need a Private Mortgage Most of us don’t give much thought to private mortgages. We are vaguely aware they exist, but perhaps have the impression they are mortgage solutions for financial derelicts. But that is totally not true. More often than not, they are needed when bad things happen to good people. And […]

Mortgage Growth Slows in First Half of 2019 Residential mortgage growth was down more than 7% in the first half of 2019 compared to a year earlier, likely caused in part by the federal government’s mortgage stress test, according to new data from the Canada Mortgage and Housing Corporation (CMHC). The quarterly Residential Mortgage Industry Dashboard shows […]

WHAT THE ELECTION RESULTS MEAN FOR YOUR MORTGAGE With all the news we have seen on the election, I thought I would sum it up from a mortgage industry perspective. What the liberal win means for your mortgage: 1. We will see the continuation of the First Time Home Buyers’ Incentive. Check out the link […]

6 THINGS ALL CO-SIGNORS SHOULD CONSIDER Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing measure. […]

MORTGAGE RENEWALS WITH THE SAME LENDER ARE ON THE RISE, BUT SHOULD YOU JUST SIGN ON THE DOTTED LINE? If you’re in a mortgage that’s coming up for renewal in the coming months and you’re considering just staying with your current lender, you wouldn’t be alone. According to the Canadian Mortgage and Housing Corporation’s (CMHC) […]

Canadian Housing Market Rebounds in September Canada’s housing market continues to rebound this fall from last winter’s chill. The Canadian Real Estate Association (CREA) reported that benchmark prices rose 0.5% in September from August, and 1.3% year-over-year. The aggregate benchmark price for the 19 cities CREA tracks is now $629,200. The benchmark is the best […]