Bank of Canada Maintains Overnight Rate

EditorAgricultural Mortgages, Commercial Mortgages, Financial Tips, First Time Home Owner, General Interest, Mortgage Insurance, Mortgage News, Mortgage Term, Residential Mortgages

The Bank of Canada left its main interest rate untouched yesterday, maintaining a 1 percent overnight rate for the 13th consecutive review. While Governor Mark Carney painted a bright economic picture, rumblings of increased interest rates are becoming more and more prevalent. Overall, the economic momentum in Canada is slightly firmer than the Bank expected back at the beginning of … Read More

Subprime Problems on the Horizon?

EditorCredit Rating, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Household Budget, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Talk Canada, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

A hot housing market is pushing borrowers farther and farther away from mainstream financing and it’s causing quite the stir in the Canadian subprime mortgage industry. The source of the excitement? A growing pile of mortgage debt that’s coming from outside of Canada’s big six banks.

Make the Most of Low Mortgage Rates in 2012

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Household Budget, Mortgage News, Mortgage Term, Mortgage Types

Are you in the market for a mortgage renewal this year? Then pull up your socks, grab a mortgage calculator, and get ready to start saving some serious cash! If you’re one of the many Canadians who settled for a fixed-rate five-year mortgage back in 2007, chances are you’ve been kicking yourself ever since. At the time, locking in a … Read More

House Hunting Goes Social with HomeSort.ca

EditorFirst Time Home Owner, General Interest, Real Estate Advice

New interactive website will change the way you shop for real estate Finding your dream home just became a whole lot easier thanks to HomeSort.ca, a new interactive website that makes organizing, comparing and sharing promising real estate listings easy. Developed by industry-leading online mortgage specialists, FamilyLending.ca, the HomeSort.ca system takes the hassle out of home hunting. “Looking for a … Read More

How Much Would an Interest Rate Increase Hurt Your Budget?

EditorFinancial Tips, First Time Home Owner, General Interest, Housing Costs, Mortgage Insurance, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

According to a recent study by the Bank of Montreal, four in ten Canadians would feel the pinch if best rate mortgages saw a two percent interest rate increase. The study, which was compiled by Leger Marketing, found that 43 percent of Canadian homeowners believe an interest rate increase would either hamper their ability to pay their mortgage or leave … Read More