Posts Tagged ‘mortgages’

What’s the Penalty for Breaking a Mortgage and When to Consider It?

best mortgage rates canada

Mortgage rates in Canada have been quite competitive recently, with low-cost providers entering the market and interest rates in decline. With attractive rates beckoning, you may wonder whether it’s worthwhile to break your mortgage contract before the current term ends and switch to a different provider that’s offering a better rate. In some situations, breaking…

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Tips on How to Pay Off Your Mortgage Faster

how to pay off mortgage faster

When you buy a house with a 25-year mortgage, it can feel like a life sentence. You’re committing to a quarter-century of payments that you must make without fail, or risk losing your home. So, what if there was a way you could pay down your mortgage faster — a “get-out-of-jail-sooner” card, so to speak…

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Finding the Best Online Mortgage Lenders

online mortgage canada

Canadians are known for their polite and passive nature. It’s no surprise, then, to see Canadian homeowners lagging compared to their global peers when it comes to switching mortgage providers or even doing the research on the best online mortgage lenders to see whether they can get a better deal elsewhere. According to an HSBC…

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How to Use the Home Buyers’ Plan

RRSP Home Buyers Plan

According to CBC News, the average home price in Canada sat at $480,000 in March of 2019, and although that’s the lowest level since 2013, it’s still scarily high enough that Canadians are having a difficult time coming up with the required 5% down payment on a home of their own. If this sounds like…

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What is a Reverse Mortgage?

reverse mortgage explained

With the average home in Canada now worth about a half-million dollars — and much more in large cities such as Toronto and Vancouver — it’s not surprising that some older homeowners are looking to reverse mortgages to unlock the equity that has built up in their properties. Indeed, average home prices in Canada have…

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Why isn’t Generation Y saving any money?

I was checking this post by Studenomics that talked about why Twenty Somethings are not saving money and being of the same generation Y/ 20 something category, I got to thinking… In the past, Canadians have traditionally saved about 10% of their gross income and stashed it away in their piggy banks. Currently, the savings…

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