invis-admin

21
Jun

Update on Interest Rates.

Bond yields have increased prompting interest rates to rise on fixed terms. If the increase in bond yields continues upward the spread shrinks which could cause more rate increases. The spread is obtained by subtracting  the bond yield from the new increased industry average 5 year rate.  Will the rates fall back down again as has happened quite often in

Read more

21
May

Read this if considering renovations.

6 Things You Think Add Value To Your Home – But Really Don’t Jean Folger | Investopedia – Sun, 12 May, 2013 Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home’s value. Certain projects, such as adding a

Read more

15
May

No Housing Bubble?

Flaherty dismisses fears over housing slowdown Decreasing demand, construction a ‘healthy’ development, finance minister says The Canadian Press Posted: May 14, 2013 Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention. While some observers are expressing fears that a steep correction

Read more

14
May

The latest from CMHC

Changes coming fast atop shrinking CMHC THERESA TEDESCO AND GARRY MARR FINANCIAL POST 13/05/13 Canada Mortgage and Housing Corp., the country’s national housing agency, is finally on the path to being operated like a significant financial player which it has morphed into during the past decade. A new chairman of the board, a soon-to-be unveiled chief executive and a new

Read more

10
May

Love at First Sight!

It’s love at first sight for most new homebuyers National Post Linda Nguyen, Canadian Press | 13/05/02 Looking for a perfect home can be an emotional roller-coaster, but a new study suggests finding the right property often comes down to love at first sight. In its report titled Psychology of House Hunting, the Bank of Montreal found that 80% of

Read more

7
May

Ever wonder how a lender looks at your mortgage application?

Ever wonder how a lender looks at your mortgage application? By Lisa J. Gryba | GoldenGirlFinance.com – Mon, 15 Apr, 2013 Lenders are in business to make money…not lose it. Consequently, when a lender approves a mortgage application, it wants to ensure that it will be paid back within the terms of the mortgage contract. To assess your application, most

Read more

7
May

“Best bets for now are that Bank of Canada will stand pat until 2015”

Stephen Poloz named new Bank of Canada governor Brenda Bouw Yahoo Finance Stephen Poloz, president of Export Development Canada, has been named the new boss at the Bank of Canada, replacing outgoing governor Mark Carney. Poloz, 57, was considered a contender for the role, but his appointment is a surprise to many who thought the job would go to Tiff

Read more

7
May

Cell Phone Users Be Aware!

Here is something new to be aware of! Cell phone companies are now reporting account information to Equifax. These accounts will start showing up on your credit bureau file. It is more important now than ever to ensure you keep your cell phone account up to date at all times. While any late payments will not affect your credit score

Read more

2
May

Pre-payment Privileges…. speed up your mortgage pay-down!

The prepayment privileges that come with your mortgage are there for a reason – they help you pay off your mortgage faster and reduce your interest costs. Prepayment privileges differ from lender to lender (up to 15%, 20% + 20%, double up, lump sum). Take the 20 + 20 privilege; it allows an annual mortgage payment increase up to 20%

Read more

26
Apr

What is the Qualifying Rate?

In 2010, the Department of Finance introduced the Qualifying Rate as a new way to assess borrower eligibility and ensure borrowers can handle their payments should rates begin to rise. Your lender will use the qualifying rate to calculate your debt service ratios, which must be at or below their guidelines. The qualifying rate is a 5 year rate published

Read more