How to Choose REITs
On Friday in our mini-series about REITs in Canada, we looked at the different types of REITs you could buy. But there’s a lot more to choosing a REIT than just knowing whether you want one that deals in retail space or one that’s directly tied to Canadian mortgages. Just like any other shares you’re…
Read more3 Options for Getting a Mortgage with Bad Credit
Truthfully, you have lots of options for getting a mortgage with bad credit. While you’re most likely going to pay higher interest rates, bad credit doesn’t always automatically mean you’re doomed when it comes to buying a home; and once you start looking, you’ll find there are options you never even thought of, or knew…
Read moreWhat the Interest Rate is Going to Do
Everyone eagerly waited to see what the Bank of Canada would do with the interest rate yesterday, as many homeowners sat waiting to see if now would be a good time to refinance their mortgage. It was expected that the overnight rate would remain at 1%, the same rate it’s been since September of 2010…
Read moreA Closer Look at the Banks’ New Deals
Homeowners and homebuyers rejoiced on Wednesday when the Bank of Montreal lowered their 5-year fixed rate deals to 2.99%. Meanwhile, many of the other major lenders in Canada were in a panic to also come up with new products and packages to match BMO’s offer. The bidding war was the best mortgage news Canadians had…
Read moreConfusion Surrounds Canadian Housing Market
The confusion with the current state of the Canadian housing market began when interest rates were set to record lows early last year. That created a surge of homebuyers, and of home sellers that knew those buyers were ready to pay whatever price was put on a home. That led to home prices climbing and…
Read moreThings to Consider Before Co-Signing a Mortgage
On Monday we began our mini-series about co-signers and mortgages in Canada. While we covered who they were, what they do, and how they can be a great help to home buyers, there are still a few things you need to consider if you’re considering being a co-signer for someone’s mortgage. Most of these revolve…
Read moreWhere Can You go for a Reverse Mortgage?
Reverse mortgages have been around in Canada since 1986, and they’re a type of home loan that’s becoming very popular. These mortgages are secured by your home equity but unlike other types of mortgages, there are no principal or interest payments for as long as the homeowner lives in the home. But while these loans…
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