It looks like recent job losses are not going to prevent an upcoming mortgage rate hike. The Bank of Canada is still poised to raise interest rates in October 2018 despite the losses in the part-time work market in August. Survey Results Fuel Disappointment? The August 2018 survey of the Statistic Canada’s Labour Force was […]
Mortgage Rate Hike Possibly Coming Soon Read More »
Mortgage rates are not the same throughout Canada. This applies to all types of mortgages including second mortgages. The reasons why mortgage rates fluctuate depend on many factors but location is a major determinant. Who Sets Second Mortgage Rates? The second mortgage rates are set by individual lenders within reasonable limits (for instance, they can’t
What You Have to Know About the Rates of Second Mortgage in Canada Read More »
Mortgage brokers either have a negative or a positive image depending on one’s background and personal experience but the truth is, mortgage brokers only act as an agent or a middleman between a borrower and a lender, although some may be more conscientious about their job than others. What Does a Mortgage Broker Do? A
How a Mortgage Broker Can Make Your Life Easier Read More »
Although a lot of Canadians are interested in getting a HELOC or a home equity line of credit, the majority are concerned about being unable to manage making payments on time more so as interest rates seem to be seeing an upward trend these days. News saying that HELOC payments will increase also abound, causing
Managing a HELOC – Dealing With Interest and Payments Read More »
David Franklin, a real estate lawyer from Toronto believes that Ontario investors have lost more than $1B of their investment money in syndicated mortgages. A CBC news report recently shared that 120 Chinese investors in the GTA stand to lose about $9M in investments like these and David Franklin adds that this news is just
Ontario Investors Lost $1B in Syndicated Mortgages According to Toronto Lawyer Read More »
Getting a Home Equity Line of Credit in Canada means tapping into the equity you’ve built in your home through a line of credit. It is a way of utilizing the value of your home that you truly own. Note that it only sounds similar but is not the same as an unsecured line of
Comparing Rates – Home Equity Line of Credit in Canada Read More »
New mortgage rules made household lending a bit trickier for the first quarter of 2018, shared Bank of Canada. This development regarding the OSFI mortgage stress test that started in January led to more Canadians going to loan sharks and to private lenders because they can’t qualify for a bank mortgage. Survey Results A survey
Household Lending Tightened Due to New Mortgage Rules Read More »
Owning a home is perhaps one of the smartest long-term investments towards one’s future an individual can make. Home equity can provide a good amount of security for when someone is older and can even be an emergency source of cash, such as when you apply for a HELOC. No wonder millennials compromised 35% of
Why Millennials Should Invest in a Home Now! Read More »
It is no secret that property values have gone up in Canada in the last 15 years. People living in certain areas like Toronto and Vancouver who bought their homes more than 2 decades ago have more than doubled the value of their properties. The recent huge increase in real estate market values mean that
Is A Second Mortgage A Good Financing Option For You? Read More »
A second mortgage is another loan taken with a different mortgage lender on a property that has an existing mortgage. The person who applied for the mortgage must still pay the primary mortgage with the addition of also having to pay for the second mortgage. Reasons Behind Higher Interest Rates On A Second Mortgage When
What is a Second Mortgage And How Will It Work? Read More »
