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With the once popular variable mortgage no longer offering significant discounts off the prime rate, we have seen a turn of the tide over the last several months as Canadians conclude that long-term fixed rate mortgages look very attractive again, and for some consumers, the longer the better. Many homeowners are locking in to historic …

Recently ING moved to to join a few selected lenders who are registering their mortgages as a Collateral Charge. It seems like more lenders are using collateral charge mortgages these days so it’s important to understand the key differences between a collateral and standard charge mortgage. Which is better for you? They both have advantages …

The majority of homeowners wish to pay off their mortgage early. Wanting to be mortgage-free sooner is easier said than done; however, there are some simple mortgage tips that can help you reach your goal quickly. Make More Payments Your first option is to pay more frequently, such as accelerated bi-weekly. Most mortgages default to …

Well its good to be back and have 2011 behind us. What a year. As foreign debt crisis concerns monopolized the financial talks Canada and its housing market did exceptionally well. Canada’s housing boom is among the most long-lived in the Western world at 13 years, the average house increase in value by 85 per …

In both Fall 2010 and Fall 2011, the Maritz/CAAMP study investigated consumer attitudes on some current issues related to housing markets and mortgages. Overall the results were widely distributed, there were a few exceptions where results were clustered, however the responses maybe considered to be inconsistent. CAAMP’s previous research on mortgage indebtedness has found that …

Last blog post I talked about Land Title Fraud as being one form of Real Estate Fraud in Canada. This blog will talk about another form of Real Estate Fraud: Foreclosure Fraud. Foreclosure Fraud First, let’s discuss Foreclosure. Foreclosure is the process whereby the mortgage lender takes possession of a borrower’s home and sells the …

Although Real Estate Fraud isn’t the most popular type of fraud in Canada it does have a huge financial impact to its victims. It is important to understand how Real Estate Fraud happens and more importantly how to protect yourself against it. There are two types of Real Estate Fraud: Title Fraud and Foreclosure Fraud. …

The Bank of Canada has decided to keep its key overnight rate at 1%. Global uncertainty with concerns over Europe’s recession and economic stability continue. In Canada household expenditures and business investing remain strong, however the strength of the Canadian Dollar is concerning for our export business. Also underwatch is our growing unemployment numbers. Credit …

The Home Buyer Plan is a program administered by the Canada Revenue Agency. The program allows you to withdraw invesment funds from your RRSPs to buy, or build, a qualifying home. You can withdraw up to $25,000 from your RRSP in a calendar year to purchase a home for yourself or for a relative who …

So you have found your perfect home, however it is in need of some renovations to accommodate you and your family; perhaps it’s a new kitchen, bathroom or windows. You are wondering how you will be able to afford to complete the renovations. What should you do? One option to consider would be the Purchase …