The Perks of Paying Off Your Mortgage Faster

EditorAbout Mortgage Brokers, FamilyLending.ca, 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

A Dragon Enters the Mortgage Biz

EditorAbout Mortgage Brokers, General Interest, Mortgage News

Rumour has it that the mortgage business is about to get a little hotter, thanks to the addition of a Dragon. According to a tweet sent on Sunday from CBC’s Dragons’ Den star and investment superstar Kevin O’Leary, the Lang & O’Leary Exchange is getting into the mortgage industry via O’Leary Mortgages .

Should You Trust Your Bank?

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Mortgage Types, Real Estate Advice, Residential Mortgages

When it comes to financial advice, including information on the best mortgage rates, who do you turn to? According to a survey released by the Bank of Montreal last Friday, Canadian’s are more likely to turn to their financial institution with money problems than anywhere else. This includes friends, family members, financial advisors and mortgage brokers. Even in the age … Read More

How Age is Impacting the Housing Market

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Mortgage News, Real Estate Advice

It used to be that buying a home was a solid investment in your retirement. Simply purchase a fixer-upper, restore it to it’s former glory, incorporate some modern amenities, and presto-changeo: 20 years from now you’ve got yourself a nice, big next egg. However, things have changed, leaving many mature homeowners facing a frustrating reality. According to the Bank of … Read More

Could Interest Rates Go Lower?

EditorAbout Mortgage Brokers, FamilyLending.ca, First Time Home Owner, General Interest, Housing Costs, Real Estate Advice, Residential Mortgages

Interest rates have no where to go but up, right? Maybe, but maybe not. Bank of Canada governor Mark Carney signalled last Tuesday that he’s still looking to raise the cost of borrowing “over time,” however, it appears to be an empty threat. The overnight rate has remained unchanged for months as Canadian home hunters continue to take advantage of … Read More