Buyers Showing Caution, Bank Keeps Rates Low

EditorGeneral Interest, Home Insurance, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

The Bank of Canada held its ground today, leaving the overnight lending rate unchanged at 1 percent. While the move was expected (the rate has been locked at this near-historic rate since September of 2010), the tone of the announcement was far less confident than previous press conferences. The Bank’s release explained how a global economic slowdown is impacting Canada’s … Read More

Deciding on Debt: How the New Rules Will Impact Your Mortgage Hunt

EditorAbout Mortgage Brokers, FamilyLending.ca, Household Budget, Housing Costs, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

Two things are clear about the current Canadian housing market. First, interest rates are going to go up. The Bank of Canada governor, Mark Carney, Finance Minister Jim Flaherty, and pretty much anyone involved in the banking industry has been warning of a hike, if not several, potentially before the end of the year. Second, the nation’s major banks have … Read More

Does Your Down Payment Stack Up?

EditorAgricultural Mortgages, Commercial Mortgages, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Household Budget, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Residential Mortgages

Think that a 5 percent down payment is enough to secure a great mortgage rate? Think again. Pulling together the minimum 5 percent down payment, while a good start, is just that – a start. If you’re a first time home buyer looking to move up the property ladder, don’t skimp on your down payment. If you’re having trouble pulling … Read More

Low Mortgage Rates = False Sense of Security?

EditorAbout Mortgage Brokers, Financial Tips, First Time Home Owner, General Interest, Household Budget, Housing Costs, Mortgage Insurance, Mortgage News, Mortgage Term, MortgageCanadaCalculator, Real Estate Advice, Residential Mortgages

Historically low interest rates are making it easier for Canadians to enter the real estate market. Why continue to rent when a mortgage payment could be less than your current monthly lease? If you’re considering the here and now, buying makes perfect sense. With the help of a seasoned mortgage broker, you can easily secure a best rate mortgage that’s … Read More