Tag: mortgage planning

Stress test yourself!

November 13, 2017 | By | Add a Comment

Do your own personal stress test There’s been a lot of “blah, blah, blah, waaaah!” about the latest rendition of the mortgage stress test (even from me, I admit it!).  These days, there’s no purchasing power boost if you put more than 20% toward your home purchase rather than 5%…  That’s because everyone putting more than […]

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New mortgage stress test for 2018 – why you might want to buy or refinance *now*

October 20, 2017 | By | 2 Comments

Purchase – or refinance – before the rules change in January If you’re looking to buy with a down payment of more than 20 percent, or if you’re considering refinancing, then you might want to do so before January 1st.  Why?  On October 17, the Office of the Superintendent of Financial Institutions (OSFI) released new […]

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Fixed or variable rate mortgage: which is better?

October 9, 2017 | By | Add a Comment

Fixed or variable rate mortgage: is rate the only thing to look at? One of the biggest questions you’ll face when planning your mortgage, is whether to lock in to a fixed rate or choose a variable rate mortgage. Currently, the 5 year fixed rate is around 3.44%, give or take a bit. You can […]

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Difficulty making mortgage payments?

October 2, 2017 | By | Add a Comment

Sometimes unforeseen financial circumstances can impact your ability to make your regular mortgage payments. Or perhaps your debt demons have been caused by taking on too much other high-interest debt. It can be tempting to want to conceal your debt problem for as long as possible. But that’s almost never the best strategy. With early […]

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Which mortgage features are most important?

September 5, 2017 | By | Add a Comment

It’s easy to look online for a mortgage rate. But most mortgages vary only slightly on that. So how do you decide which mortgage is best for you? Rate is only one aspect of saving money on your mortgage over the long term. It’s essential that you also consider mortgage features. Here are the big […]

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Pre-approvals made simple

March 24, 2017 | By | Add a Comment

The ins and outs of pre-approvals When you’re house hunting, it’s a great idea to know the amount of mortgage you qualify for, your monthly payments, and that your interest rate will be held for a specified period of time i.e. 120 days. This way you can shop within your price range, you don’t have […]

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Understanding mortgage rates

March 9, 2017 | By | Add a Comment

This is why mortgage rates are suddenly way more complicated If you’ve been shopping for a mortgage lately, you’ll have figured out that rates can be all over the map. That’s because you’re not comparing apples to apples anymore. Thanks to new mortgage rules, the mortgage pricing matrix is much more complicated, and quick online […]

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9 tips for surviving the Toronto housing market this year

January 1, 2017 | By | Add a Comment

Toronto housing market survival tips  Our hot Toronto housing market is so often a topic of conversation these days. Everyone is wondering when is the right time to buy or sell, if the trend of increasing house prices will continue. If you’re wondering how to survive without dishing out a lot of cash, check out […]

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