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Should You Go Fixed or Go Variable?

Should You Go Fixed or Go Variable?

  |Source: Mortgage Architects It is typically one of the first questions someone asks when talking about your mortgage: What’s your rate? While everyone can recall their rate off the top of their head, it tends to be the only detail of the mortgage they can remember....
To Defer or Not to Defer

To Defer or Not to Defer

April 2020|Source: Mortgage Architects With Canada’s major Mortgage Finance Companies (MFC’s) and all six big banks offering mortgage deferrals of up to 6 months, as well as case-by-case options from credit unions, one of the major questions currently...
Eeny, Meeny, Miny, Moe.  Where for Mortgage do I go?

Eeny, Meeny, Miny, Moe. Where for Mortgage do I go?

I’m biased but I also happen to like choices.  As a consequence, I feel that the following article is pertinent for those contemplating their next mortgage. Mortgage brokers vs. banks: the pros and cons, By Tracy Hanes ~ Special to the Star I will also add that...
How to Reduce Mortgage Interest Cost

How to Reduce Mortgage Interest Cost

ManuLife offers a mortgage product within their ManuLife One product that is worth considering.  Here is a perspective offered by Rob Carrick of the Globe and Mail This might be the most useful savings account in Canada   Your first reaction might be one of...
A Little Knowledge is Helpful

A Little Knowledge is Helpful

The following piece from Global News is a nice summary of the implications of the new mortgage stress test. Could you pass the mortgage stress test? Here’s how to find out   It is worth pointing out that the accepted GDS and TDS ratios vary based upon a...

The Times Are A Changin’

Once upon a time, the debt service levels that are used to determine the amount of mortgage money that we can borrow were lower than they are today. The new mortgage stress test that was recently implemented looks like it takes us back in the direction that...

My quick link post

https://www.theglobeandmail.com/report-on-business/new-mortgage-stress-tests-could-disqualify-10-of-buyers-bank-of-canada/article37109981/ Central bank expects biggest impact to be concentrated in Toronto, Vancouver...

My quick link post

http://business.financialpost.com/personal-finance/stricter-osfi-rules-on-mortgage-lending-will-do-more-harm-than-good-fraser-institute Fraser Institute doesn’t believe the changes are necessary and says another key result could be a less competitive mortgage...