How often should you make a mortgage payment? The most traditional method is to pay your mortgage monthly – but you have options. Read on to learn more, and to see how shaking up your payment frequency can help you save money!
It’s every home owner’s worst nightmare; an unforeseen financial crisis renders you unable to pay your monthly mortgage payment. A recent survey finds 61% of Canadians don’t know what to do in this situation – but you DO have options.
Choosing your mortgage amortization is an important decision – a long amortization provides security and time to save, while a short one will have you debt-free faster.
The 2.77% mortgage rate is back! Butler unveiled their record low rate once again on Friday. Will more lenders follow suit with record breaking lows?
Thinking of moving in with your significant other? Embarking on the next era of your relationship means taking the communication about your finances to the next level. While there are plenty of benefits from going dutch – paying halfsies on rent and other bills means a savings boost – financial incompatibility can be a deal breaker.
For the 14th consecutive time, today the Bank of Canada announced that they will continue to maintain the overnight lending rate which holds steady at one per cent. This means no increases to mortgage rates and monthly mortgage payments for variable rate mortgage holders and home equity line of credit consumers.
This past Tuesday the Bank of Canada had their first meeting of 2012 to discuss any changes they were going to make to the overnight lending rate. Low and behold … no change. This came as no big surprise to Canadians and the overnight rate remains steady at 1%. FYI the next meeting is scheduled for March 8th, 2012. How does this impact the mortgage industry exactly?
Did you know that changing your payment schedule can mean paying off your mortgage in less time and saving loads of money? Here are the different types of mortgage repayment options.