Bank Or Broker?

familylendingMortgage Talk Canada

Who should you consult for your mortgage pre-approval? Handle your mortgage like every other major purchase– that is, be sure you make the effort to compare rates and shop around. Not every Canadian mortgage rate is the same. Bank Rates When you visit a bank, it’s worth bearing in mind that their loan officers are paid to sell you their … Read More

How to Compare Mortgage Rates

familylendingMortgage Talk Canada

Find the best mortgage rate today! Did you know, homebuyers who hunt for a mortgage rate are most likely to secure a competitive financing option than those who don’t? Studies have shown that consumers who compare mortgage rates and ask questions during the pre-approval process are most likely to save more money. How Can I Find a Great Mortgage Rate? … Read More

Bank Holds Overnight Rate at One Percent, Financial Tips, General Interest, Household Budget, Housing Costs, Mortgage News, Residential Mortgages

The overnight rate held steady yesterday as the Bank of Canada announced that it would maintain its traget of 1 percent. This leaves the prime lending rate at 3 percent. It’s now been more than two years since the prime rate has increased, giving variable rate mortgage holders the upper hand on higher interest costs.

Consumer Debt Hits A New High

EditorFinancial Tips, Household Budget, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

A report released this morning by TransUnion shows that, despite repeated warnings, Canadians are back on the borrowing bandwagon, pushing consumer debt to a new record high. According to the report, the average Canadian’s non-mortgage debt hit $26,221 in the second quarter of 2012, up $192 from the previous quarter. This is the highest per person debt level since the … Read More