Starting in April, the government will change the rules that cover mortgage lending in a way that should, in the short term at least, make it easier to qualify for a loan to buy a home. The Department of Finance says that as of April 6, the so-called “stress test” for mortgages will be calculated […]
Are Toronto House Prices Headed Back to 2016 Levels? Concern is growing that Canada’s largest housing market may be about to experience a new round of froth, similar to that seen in 2016. Back then, red-hot housing markets in the Greater Vancouver and Toronto Areas ultimately forced the federal government to introduce the 2016 and […]
The ripple effects of the coronavirus are being felt on Canada’s bond market, which is translating into lower mortgage rates. Variable-rate mortgages are generally tied to the Bank of Canada’s overnight benchmark rate. Their fixed-rate counterparts depend on the five-year Government of Canada bond yield, which fluctuates with market forces. It’s fallen sharply since the […]
The Bank of Canada announced this week that it would leave its mortgage market-influencing key interest rate unchanged again. This development — or lack thereof — did not come as a surprise to economists who pay close attention to the central bank’s moves. It was, after all, the fifteenth straight month that the interest rate […]
The Bank of Canada is keeping its key interest rate target on hold at 1.75 per cent and forecasting a slower-than-expected start for the Canadian economy for 2020. The central bank says in its latest forecast that the Canadian economy will grow by 1.6 per cent this year, down 0.1 of a percentage point from […]
TAKING ADVANTAGE OF PRIVATE MORTGAGE – THE BASICS Private mortgages are usually a short-term solution for borrowers looking to get a quick solution to their financial problems without much hassle. Private mortgages are the loans which are taken from lenders who are not a part of a bank or a financial institution. They are individuals […]
THE PURPOSE AND PROS OF GETTING THE SECOND MORTGAGE A second mortgage is the second loan you take out on your home or a property to help you use the equity present in your home. These mortgages have the same qualification process as any other. The lender would require you to have a good credit […]
Mortgage refinancing can help you to find the right plan for your situation. It can help you to update your financial status and make it feasible for you. With mortgage refinancing you can change the way your rates and terms are, and you can even switch to another lender. With the changing economy, new rumors […]
Six steps to get a Perfect First time home buyer Mortgage. A first time home buyer mortgage is the mortgage a first time home buyer takes to purchase the home of their dreams. These kind of borrowers seem incredibly attractive to lenders as they are less risky than other borrowers. They do not have many […]
The process of Mortgage renewal Mortgage renewal is a very simple process when compared to other types of mortgages and their terms and conditions. But this does not, in any way, mean that we shouldn’t put as much effort as we did while acquiring the mortgage in the first place. The mortgage renewal process starts […]
