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
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
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
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
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,
I wouldn’t say its “new” but these techniques have only been used to make the rich, richer. It is a method of designing your finances that extends the remarkable benefits of debt conversion to almost anyone with a mortgage. Wealthier Canadians commonly employ expensive tax accountants and tax lawyers to
Given that mortgage rates are so low right now, should I switch from my higher fixed rate to the current lower rate ?
Great Question Shawn.. this is exactly what most Canadians seem to be asking too….. The good news is “probably”…. But please let me explain why,you want to look MUCH deeper into your numbers and MAKE SURE…. (Well with your Mortgage Teacher of course). One of the key numbers is your total
Why would the bank be charging a higher interest rate than what is the going rate today? They quoted me a rate of 6.55%
Well Carrie, it’s GREAT to see you are asking the right questions. Many consumers have been asking this for years. The banks system “seems” to be…. We’ll quote you a high rate, and (hopefully you sign it) if you shop around and get a better deal…well, ok, then maybe we’ll
Credit Score also known as Beacon Score is definitely one of the key components when qualifying for a mortgage.
Good question, Many clients have left one of our OMAC offices with a much lower rate then what they were offered from their current bank, so many people would answer your question as “yes” But… the truth is, OMAC Mortgages is a group of high volume mortgage brokers who pool