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Mortgage pre-approvals demanded by most of home sellers
The majority of home sellers say that they would only consider offers from buyers who had already been pre-approved for a mortgage. A poll by Scotiabank found that 61 per cent of sellers seek those with approval and that 69 per cent of buyers are likely Read More...
Lower rates will boost buyer confidence
As the Royal Bank of Canada leads other major banks in lowering five-year fixed mortgage rates, some industry experts believe there won’t be much of an impact on how the housing market performs in 2015. “I don’t believe a quarter-point Read More...
New price! Home with walk-out finished basement $679,000
Finished walk out basement. Open Concept • 5 bath, 4 bdrm 2 story - MLS ® $679,000 - Fabulous corner lot! Bradford, Bradford West Gwillimbury - Fabulous Bradford location! Homes Like That Don't Come Up For Sale Very Often. Once You Walk-In, Read More...
Interest rates will remain low for a while - Scotia bank
The Bank of Nova Scotia has released a new forecast which tells Canadians to expect low interest rates until 2014. In the forecast, Scotiabank economists Dov Zigler and Derek Holt estimate the economy will likely average 1.9 per cent growth this year, Read More...
Mortgage Rate. Qualifying Rate.
Mortgages with variable rates or fixed terms under five years typically require that you qualify at a higher rate (called the “qualifying rate.”). For example, if you apply for a 2.25%, 5-year variable mortgage, the lender might make you qualify Read More...
Did you know that the overnight target rate has now been static for a record 678 days?
Once again, Mark Carney and committee have left Canada’s core interest rate unchanged. Our economy still isn’t firing on all cylinders, says the Bank of Canada. This suggests that mortgage holders can likely expect the 3.00% prime rate to Read More...
A different view at 2nd Mortgage
There are so many benefits to registering a second mortgage on those deals as a way of protecting your investment [ your own home or your real estate investment]. In placing that secondary lien – equal to their investment amount – money investors Read More...
Canadians don't regret their mortgage choices
Canadians have heard the many cautions about carrying too much debt and are taking action to insulate themselves from future economic downturns, says an annual report by the Canadian Association of Accredited Mortgage Professionals (CAAMP). Highlights Read More...
TD Mortgages To Become Collateral Charges
TD is making a big change with respect to how it registers its mortgages. Effective October 18, all new TD mortgages will be registered as “collateral charges.” A collateral charge is a different way to secure a home loan than a standard mortgage. Read More...
3 Months Mortgage Review
Key developments since the August update: Economic growth concerns reached a peak for the year but have since subsided (slightly) The 5-year bond yield (which leads fixed mortgage rates) fell to 18-month lows before rebounding strongly Prime rate rose Read More...
Bank Of Canada holds key rate _ October 19, 2010
The Bank of Canada held its target for the overnight rate at one per cent on October 19 th , 2010 after having raised it by a quarter of a percentage point in June, July and September. Correspondingly, the Bank rate remained steady at 1.25 per cent and Read More...
Fixed-Rate Mortgage Forecast
Banks foresee 5-year bond yields climbing 117 basis points in the same 15-month timeframe. That would put the 5-year yield at 3.41% by the end of next year. The 10-year average of the five-year yield is 3.93%. Assuming a typical 120 basis point spread Read More...
Variable-Rate Mortgage Forecast
Most analysts now expect the Bank of Canada to remain on the sidelines until 2nd quarter 2011. On average, major economists now predict a 100 basis point increase in the overnight rate over the next 15 months. Their outlooks, if accurate, imply a 4.00% Read More...
The importance of a Mortgage "Term"
There's an old saying: "The lowest rate will save you hundreds, but the wrong term can cost you thousands." Put another way: your mortgage term can have a far greater impact on interest cost than the up-front interest rate. That’s Read More...
Why Is Your Mortgage "Term" Important?
There's an old saying: "The lowest rate will save you hundreds, but the wrong term can cost you thousands." Put another way: your mortgage term can have a far greater impact on interest cost than the up-front interest rate. That’s Read More...