What affects mortgage rates? Government policies to protect the economy during the pandemic resulted in exceptionally low mortgage rates for both fixed and variable rate mortgages. As we start moving towards recovery, fixed rates have started to edge upwards. The prime rate, which variable [...]
The lowdown on the mortgage approval process Whether you are purchasing, refinancing, or moving your mortgage to a new lender, it’s important to have a clear understanding of the mortgage approval process. It’s a big financial commitment so you’ll want to be sure you [...]
Canadians know that a smart home renovation can both increase their property value, and improve the way they live in their home. Putting a renovation on your high-interest credit card can wipe out the value you’re adding, and create months – or years - [...]
Fixed or Variable Mortgage - what's the difference? First, let's touch on the difference between fixed and variable rates... With a fixed-rate mortgage, your interest rate and payments are fixed for the term of the mortgage, which offers stability. Fixed-rates are usually better suited to [...]
One of the problems in the mortgage industry is the way mortgages are advertised: usually by rate. If an online rate says 1.9%, chances are homebuyers are going to check it out. What many don’t realize is that saving interest is what saves money [...]
Are you over 55 and have a financial need? You've been paying into your home all these years. Did you know your house could start paying you back, without the need to sell it?
More lenders are moving to collateral charge mortgages so it’s becoming increasingly important to understand the differences between a collateral and standard charge mortgage. TD Bank announced in October, 2010 that all new mortgages will be a collateral charge mortgage. ING made the same [...]
A mortgage in which payments are fixed for a period of one to two years although interest rates may fluctuate from month to month depending on market conditions. If interest rates go down, more of the payment goes towards reducing the principal; if rates [...]
The interest rate on a fixed-rate mortgage is set for a pre-determined term - usually between 6 months to 25 years. This offers the security of knowing what you will be paying for the term selected.
A longer-term mortgage is worth considering if you have a busy life and don't have time to watch mortgage rates. Our 4, 5 and 7-year mortgages let you take advantage of today's rates, while enjoying long-term security knowing the rate you sign up for [...]
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Toronto, ON M6J 0G3
Tel: 416.561.5432
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420-2100 Derry Road West
Mississauga, ON L5N 0B3
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