Does Your Down Payment Stack Up?

EditorAgricultural Mortgages, Commercial Mortgages, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Household Budget, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Residential Mortgages

Think that a 5 percent down payment is enough to secure a great mortgage rate? Think again. Pulling together the minimum 5 percent down payment, while a good start, is just that – a start. If you’re a first time home buyer looking to move up the property ladder, don’t skimp on your down payment. If you’re having trouble pulling … Read More

Which Term Is Right For You?

EditorAbout Mortgage Brokers, Financial Tips, First Time Home Owner, Mortgage Term, Mortgage Types, MortgageCanadaCalculator, Real Estate Advice, Residential Mortgages

Before you set out to secure the lowest mortgage rate available, you’ll need to make an important decision concerning your payment term. Almost every new mortgage customer struggles when it comes to deciding their amortization schedule. While some customers prefer the lower monthly costs of a long-term mortgage, other’s want to pay off their loan as quickly as possible. So, … Read More

Half of Canadians Prefer Fixed Rate Mortgage Products

EditorFinancial Tips, First Time Home Owner, General Interest, Household Budget, Mortgage News, Mortgage Term, Mortgage Types, MortgageCanadaCalculator, Real Estate Advice, Refinancing my Property, Residential Mortgages

Fixed or variable? If you’re thinking about buying a home, it’s one of the most important decisions you’ll make. According to a recent poll conducted by CIBC, 50 percent of Canadian’s prefer to go with a fixed rate mortgage product – an increase of 39 percent over last year’s numbers. And while this isn’t surprising, given the convergence of fixed … Read More

CMHC Responsibility Changes Hands

EditorFirst Time Home Owner, Housing Costs, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

Concern over a red-hot housing marketing and increasing consumer debt has prompted Finance Minister Jim Flaherty to make some drastic changes this week. On Thursday, Minister Flaherty announced that responsibility for the Canada Mortgage and Housing Corporation (CMHC) will be handed over to the Office of the Superintendent of Financial Institutions, the nation’s banking regulator. It’s unclear how the change will impact the market. … Read More

REITs – How They’re Changing the Face of Real Estate

EditorFamilyLending.ca, Financial Tips, First Time Home Owner, Household Budget, Housing Costs, Investment Property, Mortgage News, Real Estate Advice

The Financial Post recently reported that Canadian real estate investment trusts (REITs) have rallied to the highest levels in five years, and that’s despite Finance Minster Jim Flaherty’s constant threat of increased interest rates. So, just what is a real estate investment trust and how can it impact your best mortgage rate search? Let’s take a look.