25 Jan

RRSP time is great for your mortgage

General

Posted by: Leonore Claypool

Did you know that RRSP time is a great time to get a mortgage? Banks are eager to get your RRSP money so rates are typically at an annual low. Many attractive offers out there right now. So this is the time to get a Mortgage Check Up. See if you can take advantage of […]

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18 Jan

Bank of Canada keeps Target rate the same

General

Posted by: Leonore Claypool

Relax the interest rate for your Variable Rate Mortgage and line of credit stays the same. As widely expected the Bank of Canada left the overnight lending rate unchanged for the third consecutive meeting. Most likely will be July when next hike coming however then next meeting is March 1st and that is when we […]

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17 Jan

Mortgage Rules Changes affect home buyers and refinancing

General

Posted by: Leonore Claypool

Well it is now offical. Good-bye 35 year amortization and hello to the 30 year amortization. Effective March 18, 2011 mortgage applicants will have to qualify based upon the 30 year amortization. Does this make a difference? You tell me. For a mortgage of $300,000 with a 35 year AM the monthly payment is $1321 […]

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6 Jan

What’s your New Year’s resolution?

General

Posted by: Leonore Claypool

Happy 2011! So the party is over and you are considering what you would like to change this year. The top resolutions include weight loss, physical fitness, health and quitting smoking.  The one that gets overlooked or shuffled to the bottom of the list is personal finances.  Do you know where your money goes every […]

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7 Dec

Bank Of Canada decision &

General

Posted by: Leonore Claypool

The Bank of Canada decided to keep the lending rate the same. This means that Prime should stay at 3%. So, people with Variable Rate mortgages, line of credits, loans based up Prime and some credit card holders will be happy to hear this. You may have heard inflation increased quite significantly this last quarter. […]

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8 Nov

1 Trillion and still affordable!

General

Posted by: Leonore Claypool

Canadians just crossed the 1 Trillion threshold for mortgage debt according to recent report cited in the Canadian Press today. Wow this is a lot of money! But this is good news even though it is largely due to high home prices and low interest rates because Canadians report they can afford to pay another $300 more per […]

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