Like many aspects of your life, obtaining financing on a new or existing home can be a lot less stressful and a whole lot more straight-forward if you’re prepared. But if you’re not prepared, there are many common mistakes you can make. Most of these mistakes are easily avoidable with some preparation and informed advice […]

Improving your credit score If your credit score is not as high as you think it should be, make sure that the information in your credit report is correct. If it is correct, read your report carefully to find out which factors are most likely having a negative influence on your score, and then work […]

Fixed Rate or Variable Rate  The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand increases in mortgage payments. You can sometimes expect a financial reward for going with the variable rate, although the precise […]

CMHC is moving yet again to tighten the home mortgage market with changes that would make it more difficult for certain Canadians to obtain government-secured financing for real estate purchases. The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income […]

Putting your full faith in a mortgage pre-approval is like betting on a heavy favorite in a horse race. You’ll probably win but there’s room for major disappointment. Sure, pre-approvals have benefits. The best ones accurately measure your qualifications and how much house you can afford. Their 90- to 120-day rate guarantees protect you if […]

Many experts believed that the real estate market was cooling. But as the spring buying season begins, it’s clear that’s not true. According to the Canadian Real Estate Association, the national average price for a home in March was $401,419, an increase of six per cent in year-over-year comparisons. While the market defies predictions, one […]

It looks like BMO is restarting some rate wars out there…however it is important to remind you that this rate offer may NOT give you all the bells and whistles of a regular mortgage product that some other mortgage lenders offer! Unfortunately for those who buy into it, BMO’s Low-Rate Mortgage is a product that […]