Should You Borrow to Invest?
Borrowing to invest is a strategy that many investment professionals often tout. But, is it a really good idea? And should you put your home on the line so that you can invest, and maybe get tenfold the money back? When talking about borrowing to invest, you first need to look at what you’re borrowing…
Read moreMore News on Boomers and the Housing Market
Back in September we talked about the Canadian Press report that showed some of the dramatic changes the Baby Boomers will be making on the housing market in the years to come. Now, the Canada Mortgage and Housing Corporation has come out with a report of their own, looking at the same stats for Baby…
Read moreHousing Market Set to Cool
Just a couple of days ago we talked about whether or not the mortgages of today would be underwater tomorrow; that is, if homeowners would find themselves in the position of having more home debt than home equity. In that post, we spoke about ways to try and save yourself from an underwater mortgage if…
Read moreYou’ve Paid Off Your Mortgage! What Comes Next?
So many people wait and wait for that blessed day when they make their last mortgage payment and own their home free and clear. The average monthly Canada mortgage payment is about $1,500 – that’s a large chunk of change that’s left over each and every month when it’s all paid off! But, what do…
Read moreShould Mortgage Rules be Even Tighter?
It was almost a full year ago when Jim Flaherty announced that the amortization period on insured mortgages would be reduced to 30 years instead of 35, while at the same time the federal government put tighter restrictions on borrowing through HELOCs and home equity loans. All of this in an effort to reduce Canadians’…
Read moreDo Women Get a Worse Deal on Their Mortgages?
“True, speaking in general terms, it’s probably safe to say that women usually enjoy shopping more than men. But that doesn’t seem to be the case when it comes to their mortgages, and it could be costing them a bundle throughout the term of their mortgage. The information comes from a new study published by…
Read moreHow to Wisely Use Home Equity
Home equity is a great thing and the more you have, the better off you are. When you have home equity, you are either a lot closer to paying off your mortgage, or you can use it to obtain a second mortgage. But before you go ahead with the latter, first make sure that you’re using your home equity wisely, so that you don’t pay more than you have to and so that you can still be a lot closer to paying off that mortgage!
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