The Perks of Paying Off Your Mortgage Faster

EditorAbout Mortgage Brokers,, Financial Tips, First Time Home Owner, General Interest, Mortgage News, Mortgage Term, Residential Mortgages

The amortizations gods have been good to Canadians over the past three years. Just 60 months ago, mortgage rates were nearly double what they are now, costing homeowners thousands of dollars in interest every year. In fact, if you were to compare interest costs in 2007 with today’s rates, you’d save over $100,000 in interest over a 25 year amortization … Read More

Home Ownership Becoming More Affordable, Reports Show

EditorFinancial Tips, First Time Home Owner, General Interest, Household Budget, Housing Costs, Mortgage News, Residential Mortgages

Housing affordability appears to be improving in Canada, according to RBC’s quarterly numbers released on Wednesday. RBC’s chief economist, Craig Wright, believes that continued low interest rates this year will help keep housing prices and costs reasonable in the near term. RBC’s report also showed that the financial burden of owning a home declined for the second straight quarter in … Read More

How Much Does Mortgage Insurance Cost?

EditorAbout Mortgage Brokers, Financial Tips, First Time Home Owner, General Interest, Home Insurance, Household Budget, Housing Costs, Life Insurance, Mortgage Down Payment, Mortgage Insurance, Real Estate Advice, Residential Mortgages

As a first-time homebuyer, chances are you’ve never heard of mortgage default insurance. More often than not, it isn’t until you’re sitting across from your lender that you learn about this expensive requirement. You see, in order to qualify for certain types of mortgage products in Canada you are required to be “insured”. While most insurance products are designed to … Read More

Saving Strategies for Canadian Homeowners

familylendingAbout Mortgage Brokers,, Financial Tips, First Time Home Owner, General Interest, Investment Property, Mortgage Down Payment, Refinancing my Property, Residential Mortgages

Save Smart: How to Manage Money and a Mortgage According to a recent Canadian Payroll Association survey, nearly 60% of Canadians don’t have enough money in the bank to cover even one month’s worth of necessary expenses. Too many homeowners are living on the edge of financial disaster, spending money that they should be saving. If you’re finding it difficult … Read More