CategoryMortgage News

My advice is simple: Over 50? Get a secured line of credit while you can qualify.

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.

The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.

We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.

Continue reading “My advice is simple: Over 50? Get a secured line of credit while you can qualify.”

Online shopping for Stocks, Vacations and Mortgages.

Posted 1 week ago Case study

Online shopping …. Stocks, Vacations and Mortgages. What’s the difference?

Is choosing a mortgage as easy as booking a trip or trading a stock? Let’s find out!

Sure, you can book a flight online or buy a stock through the web. But, can you really choose the right mortgage product on your own? Can you really find the absolutely lowest cost mortgage financing option? I’ll bet some consumers can. I’ll also bet the vast majority cannot. There’s a steady stream of horror stories, on this news site and others, that show just how costly and financially dangerous it is to be in the wrong mortgage product, with the wrong lender.

I’ve shared dozens of those experiences on this site. Consumers who were directed into the wrong mortgage by their Banker or by some web site claiming to offer ‘the lowest rate’. I empathize with these consumers as I believe they were just trying to save some money but instead ended up paying far more than they had to. Continue reading “Online shopping …. Stocks, Vacations and Mortgages. What’s the difference?”

Posted 2 weeks ago Interest rates

Important week for mortgage rates could cost or save you thousands.

Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a greater than average number of real estate transactions. We also saw consumers taking advantage of these low rates by refinancing their mortgages early.

The Five-Year Government of Canada bond yields have been going up and down like a yo-yo over the last three months, with a low point being 1.13% and a high of 1.58% just this past week. This uncertainty/volatility forced financial institutions to raise their interest rate by about .2% to .3%. Having said that, interest rates are still very low. In my discussions with the major lenders, they are all telling me that it’s busier than usual for home purchases and refinance purposes. Continue reading “Important week for mortgage rates could cost or save you thousands.”

Posted 4 weeks ago Mortgage News

Information vs advice. Why is it free?

The internet is great for researching infomation, ratings and even advice. With so much available data, it’s hard to decide which is accurate, reliable or even truthful.

Take this site for example. If this is your first visit then you may not be aware of all my credentials nor how accurate my information or recommendations are.

You’re probably making a decision right now. That’s how fast we decide today. I’ve either got your attention or I don’t. Hello to those that continue, or farewell and thanks for stopping by to those that are leaving. (By the way, stick around, you may find this useful). Continue reading “Information vs advice. Why is it free?”

Only two things in life are certain Death and Taxes

Posted 1 month ago Money saving tips

Death, taxes and interest payments. Part 2 of 2.

Part 2 of 2…. In Part 1, we examined rental properties and how they can be a great way to reduce your taxes, build net worth and create an income stream. Part 2 looks at Interest payments. Interest payments are a big part of our personal expenses. Here are a few suggestions on how to reduce your interest costs.

Continue reading “Death, taxes and interest payments. Part 2 of 2.”