Congratulations! You are about to take on one of the biggest financial commitments of your life! Do not worry! It is not as scary as it sounds. There are two main types of mortgages: Fixed and ARM. No, we are not …
Mortgage rates and inflation are two important factors that are closely related to each other. In Canada, these two factors significantly impact the housing market and the decisions of homebuyers and …
he interest rate on variable-rate mortgages fluctuates according to an underlying benchmark rate. This is based on the prime rate of the Canadian mortgage lender. Lenders determine the prime rate, but it often tracks …
An interest rate is applied on the principal amount borrowed. That is referred to as mortgage interest rate, which varies between 5 to 8 percent.
Mortgages are primarily classified into fixed-rate and adjustable-rate …
The housing market of Ontario is making a balanced territory. It has been giving powers of negotiating to its buyers for the first time in 2 years. Many are still unaware of how rising interest …
The mortgage stress test is required of all homebuyers. If interest rates rise and mortgage payments increase dramatically, the mortgage stress test can help you avoid defaulting on your loan. There are steps you can …
To understand a fixed-rate mortgage, we should know what a mortgage is? A mortgage, in simple terms, is the loan that a person uses to buy a home or land. That person becomes the borrower and agrees to pay the …
Paying off existing debt and replacing it with a new one is the definition of refinancing a mortgage. There are a variety of causes for homeowners to …
You’re probably familiar with the term “mortgage.” It is a form of loan used to purchase a home. Learning as much as possible about getting a mortgage is a good idea, and mortgage rates today should be done before you …
The Main Reasons for Refinancing a Loan : If you’re a homeowner, you’ve considered refinancing your mortgage at least once. Many homeowners are not only unsure whether or not they should refinance, but they …