The age-old question…do I go variable or fixed? Fixed mortgage rates are more popular and represent about 70% of all mortgages in Canada. With a fixed rate mortgage, you can “set it and forget it” as you are protected against interest rate fluctuations, so your...
So why is it that mortgage broker’s cringe when they are asked…”What’s your rate?”Things have changed greatly in the mortgage industry, especially over the last year. These days, we need to know all the details of an application before we can even give a range of...
With the Bank of Canada raising the overnight rate by ¼ percent last week may people are wondering how it will affect them. If you are in a fixed rate mortgage, it will have no affect on you. If you have a variable rate mortgage, your interest cost will increase. ...
Teaser rate – definition:The below-market interest rate that is offered by lenders or credit card companies to gain new business. Offering a below-market interest rate often encourages people to switch credit cards or lenders to save money. Also known as an...
Is it time to renew your mortgage? Are you one of the many Canadians that just trust that the bank is offering you the best deal? Do you sign on the dotted line without reading the fine print? Stop!…do not pass go…do not collect $200…go directly to your mortgage...
