UNBIASED REPORTING SINCE 2009
Did you hear the news? Or did you miss it? Last week the Bank of Canada announced they would stop buying Canada Mortgage Bonds. But it seems like nobody is talking about this.
Why should you be paying attention to this?
Continue reading “What’s happening with Canada Mortgage Bonds?”
Rates are at all time lows and are expected to stay that way for a while! This means payments can’t go much lower. Let’s put interest rates and mortgage costs in perspective.
Here is what MORTGAGE PAYMENTS on a $400,000 mortgage look like with a 30 year amortization:
Continue reading “Rates are at all time lows”
I recently participated in a conference call with Scotiabank’s Chief Economist & SVP, Jean-Francois Perrault and John Webster President & CEO Scotia Mortgage Corporation. It was good to hear real financial experts make sense of what has happened and what will most likely happen.
Here are of some of the highlights:
Continue reading “Is the COVID-19 emergency over? An economists perspective.”
Bridge loans are short-term loans that bridge the gap between two different closing dates. More commonly used when an existing homeowner sells their home, and buys another home, with two different closing dates. But bridge loans have become a very popular way to take possession of that new home while it’s empty for 2 or 3 weeks to allow for renos. Best of all, it’s really inexpensive!
THE OLD WAY
In the past, most homebuyers would have their selling and buying dates match. It’s always been a bit of a juggling act as you have to pack your moving truck and unpack it, all in less than a day. Somehow, everyone manages to get it done… but talk about one of the most stressful days in your life, moving ranks right up there! Throw in some kids, maybe a dog, and a house full of stuff and you have a real chore on your hands.
THE NEW WAY Continue reading “Bridge Loans… the what and why!”
Some years ago, I did a study on the benefits and disadvantages of online shopping. Sure, you can order food from your favourite restaurant, buy a new set of earbuds, book a hotel or flight… but can you get a mortgage online without speaking with your banker or mortgage broker?
Continue reading “What’s a Travel agent got to do with a mortgage?”