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At Mortgage Teacher, we educate you with an exclusive library of resources to help you make smart mortgage choices. We negotiate in your best interest to get you the rates and terms you want, saving you time and money.
Posted
Oct 21, 2009 by The Mortgage Teacher
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Teachers Notes

Feeling pushed into a fixed rate ?

Canadian banks are trying to convince consumers to lock in their mortgage rates because more than 20 per cent of the home loans they have negotiated have become unprofitable, according to industry sources. The push has come after the banks cut the discount they offered to consumers with variable rate products

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Posted
Oct 20, 2009 by The Mortgage Teacher
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Teachers Notes

How long will rates stay low?

Low rates look safe for a while “There are arguments that this country needs an extended period of credit coddling.” With Canada’s economy looking perkier than expected and Australia’s central bank having sprung the world’s first rate-hike surprise two weeks ago, murmurings have arisen that the Bank of Canada could

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Posted
Sep 12, 2009 by The Mortgage Teacher
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FAQ

How important is Credit Score when qualifying for a mortgage?

Credit Score also known as Beacon Score is definitely one of the key components when qualifying for a mortgage. It can help determine how much the down payment needs to be. It can also determine what sort of product can be applied. Most of all, it can be used as

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Posted
Sep 12, 2009 by The Mortgage Teacher
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FAQ

What can I do to maintain a high credit score?

This is a GREAT question, your credit score can also be referred to as your Beacon Score or a Fico Score Your “Credit Score” is not just based on the usual approach of making the payments on time. In fact, many of us know how we lose points with late payments, surpassing

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Posted
Sep 12, 2009 by The Mortgage Teacher
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FAQ

Hey Michael, I’m shopping for a mortgage, am I not just looking for the lowest rate ?

Yes and No, of course rate is a key component, but sometimes a mortgage can be compounded differently to work against your rate. If we all wanted the lowest rate, wouldn’t we all just get the exact same mortgage? What I’m trying to get at is, there’s much more to

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Posted
Sep 1, 2009 by The Mortgage Teacher
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Teachers Notes

Some say the recession is ending, but will interest rates stay low ?

Recession may be over but growth will be limited next year Inflation and interest rates will remain low as economy recovers The recession in Canadaand the U.S. may be over, but the damage it left behind means Canadian growth and inflation will be muted next year, keeping Bank ofCanadainterest rate hikes

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Posted
Aug 29, 2009 by The Mortgage Teacher
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FAQ

A reminder on the idea of making our mortgage tax deductible

A new court decision reminds us how critical it is when rearranging your debt to do so legally. It has been nearly six months since the Lipson decision, in which the Supreme Court of Canada effectively blessed the debt-swap strategy known as the “Singleton shuffle.” But a new court decision

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Posted
Jul 9, 2009 by The Mortgage Teacher
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FAQ

I would like to move forward with my pre-approval. What exactly will I need?

You will be required to provide the following list of information to your mortgage professional to finalize the mortgage: Confirmation of income or employment earnings Current bank information Evidence of your down payment List of assets List of liabilities Contact information for your lawyer Copy of the Purchase Agreement Copy of the MLS listing

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Posted
May 24, 2009 by The Mortgage Teacher
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With investments doing so poorly, would be to our benefit to pay down on our mortgage while we are below at such a low prime ?

Michelle, Great way of thinking…. I suggest YES, figure out a comfortable payment (maybe check what the payment was back when you signed up) and ask your lender (bank) to “hold the payment” at that comfort zone. HEADS UP THOUGH…. I just called my bank to do the same, and

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Posted
May 19, 2009 by The Mortgage Teacher
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Teachers Notes

Is this banking crisis over?….. if so, will rates go up?

Great Question, some are saying the crisis is coming to an end, read below to find out what some economists are saying, jobs and housing still has a way to go, but when “may” rates go up?… The good news is, Prime should stay around the 2% mark until mid 2010,

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