Have interest rates fallen? Or do you expect them to go up? Has your credit score improved enough so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage? The answers to these questions will influence your decision to refinance your mortgage. But before deciding, [...]
1. Going it alone. Buying a house is a complex transaction. Even if you don’t use an agent, you’ll need a complete, dependable team: lender, lawyer, inspector, insurer, as well as referrals and advice from friends and family. Enlist the help of these individuals early in the buying process. 2. Love and purchase at first [...]
Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market. TD Canada Trust (TSX:TD) TD said the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 percentage points starting Tuesday. The move was [...]
Housing-price increases mean future challenges for both owners and renters. Sales of both low- and high-rise newly built homes cooled significantly in April from the near-frenzied pace of the previous month. Why that happened, and whether the pace will pick up again as summer progresses remain matters of speculation. The only thing that appears certain [...]
Many borrowers often confuse the two and think they are the same when in fact they are very different. So what exactly is the difference? Pre-Qualification is a process a borrower can ask for to determine their ability to obtain a mortgage. Lenders can assist by reviewing monthly income, debt and cash on hand. After [...]
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