As expected, the Bank of Canada is holding the overnight lending rate at 0.5 per cent – where it’s been since July 2015. Read on for the Bank’s revised forecast for the Canadian economy.
Applying for a mortgage? Already own a home? The federal Liberals have announced mortgage changes that will have an impact on homebuyers and homeowners. Read on to find out what these are and how they will affect you.
No surprise this time around: The Bank of Canada is leaving the overnight lending rate at 0.5 per cent – where it has been since July of 2015. Read on to find out how this will impact fixed and variable rate mortgages.
If you’ve followed along since January, you’re now eight months into your debt free journey! But high interest could be holding you back from erasing all your debt before the curtain closes on 2016. Read on to find out what you can do to lower your interest payments and speed up your repayment timeline.
Fixed rate mortgages are pretty straightforward, but a variable rate mortgage depends on the Bank of Canada’s overnight lending rate. So what happens if that rate should change? Read on to find out!
Sell and leaseback programs, which allow a homeowner to sell their house but continue living in it under the new owner, give Boomers the chance to tap into equity and stay in the family home. Sounds like a win-win situation – but is it a good idea?
Is it a good idea to refinance your mortgage? Given the penalties for breaking a mortgage, it’s not always clear if you’ll save – here’s how to tell if refinancing is for you.
The latest consumer survey from CMHC finds mortgage renewers are the most loyal to their lenders – 86% of them stayed with their bank once they already had their mortgage in place. Check out the survey’s top consumer highlights.
The CMHC is the biggest provider of mortgage insurance in Canada, but recent efforts have focused on reducing their involvement with high-risk mortgages. The Crown Corporation reported $14-billion decline in insured mortgages in their 2014 annual report. Great news for taxpayers – but what does that mean for prospective borrowers?
Reverse mortgages can be a costly way to use your home’s equity – but what about when they’re the only option? This dilemma was faced by our retiring couple case study. Read on to see how they addressed their income issue.