You can afford a second home, let us show you how! Now that low interest Canadian mortgage rates are readily available, it seems like the perfect time to invest in a second home. Here’s what you should know before purchasing a second property. Things to Learn Before Buying a Second Home 1) Do your research. You will need to resist … Read More
How Do Consumers Feel About the Market?
Economists and mortgage experts are always quick to analyze the Canadian housing market. However, these industry leaders often forget to ask for consumer opinions and insights. Luckily, there’s the CMHC Annual Mortgage Consumer Survey to help fill this gap. Conducting in February and March of 2012, the CMHC Mortgage Consumer Report surveyed 3,502 recent mortgage consumers in order to better … Read More
Planning to Retire With a Mortgage? You’re Not Alone
Canadian’s won’t be retiring their mortgage debt anytime soon, according to a recent survey by the Bank of Montreal. Data shows that more than half (51%) of Canadian homeowners plan to carry their mortgage into their retirement. But there’s more to this figure than meets the eye, says Phil Soper, chief executive of Royal LePage Real Estate Services. Soper argues that … Read More
Which Term Is Right For You?
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
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