The last several months have seen a change in Canadian mortgage rules to stimulate a stagnant housing market. We have summarized below:1. The threshold for mortgage insurance has risen to a $1.5 million purchase price. 5% down on the first $500,000 and 10% down on the...
2023 was a bad year for mortgage renewals. 2024 and 2025 will be worse.If you experienced a mortgage renewal from a 5-year fixed rate mortgage in 2023 you would have experienced about a 20% monthly increase in payments. This may have resulted in some pain; a...
It’s crucial to be mindful of your finances and find ways to save money. Here are 12 tips to help you save during these challenging times: 1. Create a budget: Develop a comprehensive budget that outlines your income and expenses. This will help you understand...
There are many great reasons to work with a mortgage broker when you are buying or refinancing a home. Your mortgage is likely to be your biggest financial decision you will ever make, so it is crucial to understand just how valuable your mortgage broker is. Here are...
Regardless of your position on the war in Ukraine, beyond the appalling human destruction and suffering that has occurred, the Ukraine war was lost before it began for all concerned. Regardless of the military outcome, a change has occurred in the world order that...
Private lending is a great tool to maximize real estate returns. Typically you can only finance up to 80% LTV (loan to value) on a rental property with traditional lenders. By adding additional mortgage debt through the use of a second mortgage, it is possible to...
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