S&P Lowers Genworth’s Status
It was just a couple of days ago that we published a post talking about mortgage insurance. There are three companies in Canada that provide it – Genworth, AIG United Guaranty, and the Canadian Housing and Mortgage Corporation – which insures mortgages in Ottawa and is the only federally-backed company of the three. And while…
Read moreHow to Stop Foreclosure
No homeowner ever wants to think about foreclosure – the process of losing your home when you default on the mortgage. But if you have already missed several payments with your mortgage lender, you have probably already been forced to consider the possibility. So, how do you stop it? Your first option is to refinance…
Read morePre-Qualifying vs. Pre-Approval
When you first sit down with your Ottawa mortgage broker to try and get an Ottawa mortgage, some of the first terms that you’ll hear are “pre-qualifying” and “pre-approval.” All to often homebuyers get confused by these terms and even mistakenly use them interchangeably. So what’s the difference? Before you even think about finding your…
Read moreHome Owners Comfortable with their Mortgage
Is it ironic that we published a post this morning about how housing is becoming less affordable in Canada – and now, just a few hours later, we talk about a report showing that most Canadians are comfortable with their current mortgages? But while many may think that our conflicting views with actual affordability is…
Read moreHousing Affordability Down in Most Major Cities
How affordable is it to own a home in Canada? With all the talk about rising home prices and the fact that interest rates are going to rise soon, it seems housing affordability is slipping beyond our reach. And according to Royal Bank’s housing affordability index, a report released Tuesday, it is – at least…
Read moreDBRS: Unemployment Bigger Concern than Interest Rates
Interest rates, along with the high amount of debt Canadians continue to take on, has been a huge concern surrounding mortgages in Ottawa. But DBRS, a credit rating agency, says that unemployment is more of a concern than either our growing debt, or an interest rate spike. The agency said that while Canadian households would…
Read moreAn Alternative to Calgary Mortgages
Alberta housing prices are starting to climb, and certain cities in the province have been on a booming upswing for the past several years. While the boost has been great for builders and developers, it’s left some people looking for Calgary mortgages or Edmonton mortgages looking for different options. The problem is, just as in…
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