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20
Jun

What is the Difference Between an Open Mortgage and Closed Mortgage?

It’s good to know as much as you possibly can about your mortgage before you sign the agreement. You don’t want there to be any surprises and having a basic knowledge of the different types of mortgages can help you feel more secure in the overall process. Knowing...
02
Jun

What is the CMHC?

The CMHC (Canadian Mortgage and Housing Corporation) has been Canada’s housing authority for more than 65 years. The CMHC contributes to the housing market and financial system to help support Canadians with their housing needs. They have information on almost anything...
17
Mar

Canada household debt ratio hits new record of 163.3%

What would you be doing if you had some disposable income? Would you be paying off household debt, or getting further into debt? Canada’s Debt Ratio Statistics Canada says the ratio of household debt to disposable income hit a record high in the fourth quarter. As incomes...
25
Apr

Mortgage Renewal – Fredericton

Many people have mortgages that will need renewal in the spring. This means that you may be receiving mortgage renewal papers in the mail from your current mortgage provider asking you to complete a mortgage renewal with them. Before signing and sending back any forms they send...
03
Mar

CMHC New Premium – Adam Jardine

As some of you know, on February 28th CMHC increased its Mortgage Insurance Premium. Here’s what it will mean to you when purchasing a home with a 5% down payment:   Loan Amount (Purchase Price) $150,000 $250,000 $350,000 $450,000 Current Premium $4,125 $6,875 $9,625...
23
Jan

Mortgage Broker OR a Rep?

If you are a Canadian homeowner or a buyer, stuck in stages of mortgage years, it may feel that all and sundry wants a piece of you. That is because mortgages are large. Lenders will entice you with low mortgage rates or special promotions. But, what you need is a mortgage that...
22
Jan

Don’t like House Hunting in the cold?

During the cold weather months it always makes for slow months in the housing market. Who can really blame people for not wanting to march through the cold temperatures and ice-coated sidewalks over and over again to find their perfect home? We all know that spring is the time...
09
Jan

Mortgage Brokers – Adam Jardine

Back in 1970s, mortgage brokers were generally used for last-resort financing, but, eventually, they took on a role, more of consulting, by providing education on how to become mortgage free-faster and finding the best rate as well. In today’s mortgage market, getting a...