Following a 16-year high in the yield on Government of Canada bonds, which set fixed mortgage rates, fixed mortgage rates may rise sharply. Mortgage providers may increase rates by as much as 30 basis points (0.20% to 0.30%), according to rate experts. According to Rudy Lochan, fixed rates should increase by 20 basis points as …
Increasing fixed mortgage rates are anticipated. Should I worry? Read More »
The interest rate you discover at the beginning of your search might no longer be the lowest when it comes to finalizing the deal at closing. Mortgage rates are changing frequently as of recent. What is the formula, then, that will enable you to obtain the overall lowest mortgage rate? After Your Mortgage Is Approved, …
Achieving the Lowest Mortgage Rate: Your Roadmap Read More »
The exhilaration of buying a new home will motivate you to plan ahead to ensure you have all bases covered. Its good to keep in mind that multiple parties are engaged during the mortgage application process: Mortgage industry experts include: Lender Mortgage Broker Realtor Home Inspector Insurer Appraiser Lawyer Parties involved will change based …
The Bank of Canada keeps the policy rate steady and tightens the economy further. With the bank rate at 4.75% and the deposit rate at 4.5%. Today the Bank of Canada maintained its objective for the overnight rate at 4.5%. Additionally, the Bank is keeping up its quantitative tightening strategy. Due to declining energy prices and …
What is Refinancing? Refinancing is the process of taking out a new loan to replace your previous mortgage. This typically results in reduced interest rates, different loan terms, or extra incentives like cash out for spending. Although you can refinance at any time, refinancing your home at the right time can result in long-term savings. …
A major financial objective for many home owners is to completely pay off their property and stop making mortgage payments. Prepaying your mortgage is one practical way to accomplish this. You can lower your overall interest costs and possibly speed up the process of paying off your mortgage by making extra payments toward the principal …
How to Pay Off Your Mortgage Quicker- Mortgage Prepayment Read More »
Selling Your Home Before Your Mortgage Term Ends? Get the Advise of a Mortgage Broker
Fixed mortgage rates have lately risen, and there is concern that they will continue to rise.
Mortgage terminology can be difficult to understand at times, therefore it’s not uncommon for people to get it wrong. It can be perplexing at times. A seasoned mortgage professional will be able to comprehend your needs and help you make the best decision. For example, if you ask a mortgage representative about their lowest refinancing …
What Is the Difference Between Mortgage Renewing and Refinancing? Read More »
Most people choose to take out a loan when buying a home, which enables them to increase their equity over time as the loan is repaid. By dividing the amount of the outstanding loan by the home’s current market value, one can calculate their equity. Your equity would be $200,000, for instance, if your home …
Home equity loans: What are they really? A Guide for Canadians Read More »
