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Understanding Home Equity: Line of Credit vs. Loan Borrower or credit costs can be outrageous. To go get a line of credit, you are usually paying upwards of 6% to 7.5%. These lines of credit can be based on interest only or principle and interest payments. This kind...
U.S. Hiring Cooled in August U.S. payrolls rose by 151,000 last month, below the expectation of 180,000, while the jobless rate held steady at 4.9%. This in combination with weakness in yesterday’s Purchasing Manager’s Index (PMI) report for August showing a slowdown...
Bank of Canada Hold Overnight Rate at 0.5% The Bank of Canada’s decision to hold rates steady once again was very much as expected, even though first half growth was well below the forecast in the July Monetary Policy Report. US growth in the first half of this...
According to data released this morning by Statistics Canada, the Canadian economy declined at a 1.6% annual pace in the second quarter, the largest quarterly decline since the global financial crisis in Q2 2009. In comparison, the U.S. economy grew at a 1.1% annual...
Buying a new home is one of the most exciting – and intimidating – processes of your life. It’s arguably one of the biggest financial commitments you’ll ever make in your lifetime, so having a concrete plan is of the utmost importance to making sure you have what it...
When you purchase a property, you may be a little overwhelmed by all the insurance offers related to purchasing a new property that come your way. Mortgage Insurance, Condo Insurance, Mortgage Default Insurance, Earthquake Insurance; the list goes on and on. It can be...
Fixed vs Variable Rate Mortgage – What’s the Better Choice and Why? In today’s market, variable and fixed rates are not too far apart. This makes most people think that the fixed rate is the way to go as it’s often viewed as the safest option. Many...
Another Example of How All Mortgages Are Not Created Equally and It Will Cost You When I meet with my clients, I explain that I believe my role is to get them the mortgage that fits their goals and plans, while saving them the most amount of money over the lifetime of...
So you’ve graduated from high school and you're off to university or college. Before you start, take the time to set down some goals and a budget for your financial future as a post secondary student. Your parents have probably been telling you to put aside some money...
Acceptable Down Payment Sources The level of documentation required for the average mortgage these days can be very frustrating. It can seem endless, very "nitpicky" and annoying because we are able to purchase a vehicle with just a pay stub. There are a few reasons...
Chances are, you’ve seen real estate listings that end with terms like, “as-is, where-is” or “court ordered sale” or even “offers subject to court approval” and wondered if the listing prices were real. Or even wondered if you should be looking at foreclosed...
This is the great debate around many household dinner tables nowadays: improve or move? With all the attention the real estate market is getting these days in the local and national media, I’m surprised everybody isn’t cashing in, selling and moving. Everybody who...