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Tag Archives: mortgage term
Canada’s Bond Yield increasing – mortgage rates may increase as well
Historically, Bond Rates and Fixed Mortgage Rates have fluctuated in relation to each other.Canada’s Bond Rates have climbed in the past few days. As a result, some lenders are increasing their interest rates. Interest Rates are still at a historical … Continue reading
Posted in Canada News
Tagged interest rate, Mortgage, mortgage broker, mortgage term
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OSFI Considering Mortgage Amortization Changes
Here we go again. Just as we’re setting into our spring market, an announcement from the Office of the Superintendent of Financial Institutions Canada, verifies that they may be looking at changes to amortization rules yet again, tightening the rules … Continue reading
Ten questions to help you avoid mortgage penalty shock
Here’s a list of 10 questions that The Globe and Mail assembled to help you understand the nuances of Payout Penalties. BMO’s Mortgage Prepayment Calculator. ING’s Mortgage Prepayment Calculator. CIBC’s Mortgage Prepayment Calculator. HSBC’s Mortgage Prepayment Information page. National Bank … Continue reading
Posted in Canada News
Tagged amortization, Mortgage, mortgage term, pay out, penalties
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Tips For Canadian First-Time Home Buyers
Since 2008 the Canadian Finance Ministry has tightened up the rules for government-backed mortgages 4 times. The most recent change in July 2012 hurt Canadian first-time home buyers the most because it made it harder to qualify for financing. Use … Continue reading
Posted in Canada News
Tagged amortization, finance ministry, finances, First Time Home Buyer, Mortgage, mortgage broker, mortgage term, rates
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5 Year Fixed at 2.99% – Variable rates at Prime minus 0.35%
With the drastic changes caused by our new mortgage rules, some lenders are offering deeply discounted rates, such as this New 5 Year Fixed Rate Being Offered for 2.99%.
Posted in Canada News
Tagged finances, housing market, interest rate, Mortgage, mortgage term, rates
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XCEEDs Super Prime Mortgage of 2.84% for Clients With Premium Credit
“Good” credit and “excellent” credit generally get you about the same mortgage rate, until now.
Posted in Canada News
Tagged credit, credit score, Mortgage, mortgage broker, mortgage term, rates, super prime, XCEEDs
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Mortgage Rules Changed
Taking effect July 9, 2012, we Canadians will experience the 4th round of amortization rules in as many years.
20 Observations on the New Mortgage Rules
Another awesome article from the folks at canadianmortgagetrends.com. Here are their 20 observations of the New Mortgage Rules.
Posted in Canada News
Tagged amortization, CMHC, interest rate, Mortgage, mortgage broker, mortgage term, rules
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Pick The Right Mortgage Term
Most buyers are extremely conscious of choosing the best – lowest- mortgage rate, however not everyone can choose the right mortgage term. The mortgage term, or length of the mortgage contract, can be more important that the minute differences on … Continue reading
Canadians challenged by 2% Higher Rates
A Bank of Montreal survey claims that 1 in 5 Canadians would be challenged by 2% Higher Rates. On a principal of $600,000 and a term of 30 years, the difference between a 3% interest rate ($2,530) and a 5% … Continue reading
