It seems that the times of historic-low interest rates are behind us – for the foreseeable future anyway. So what happens if your mortgage is due for renewal in 2023? Maybe you are one of the lucky ones to lock in a 5-year rate at 2.0% or less over the last two years, and youContinue reading “What Do I Do If I Can’t Afford To Renew My Mortgage?”
Tag Archives: mortgage
Free Real Estate Seminar In Sooke: Buying Your First Home
Is 2016 The Year? Learn all about mortgages, real estate, and how to buy your first home Coming up Wednesday, January 27, 2016, you can spend a couple of hours with three of Sooke’s real estate and mortgage professionals learning about strategies you can use to get into your first home in 2016. The seminar isContinue reading “Free Real Estate Seminar In Sooke: Buying Your First Home”
82% of Sooke Home Sales Unaffected By Federal Mortgage Insurance Rule Changes
This morning, federal finance minister Bill Morneau announced changes that his Liberal government is making to CMHC-backed mortgages in this country. The changes were hinted at by well known Canadian Mortgage Trends blogger Robert McLister back on December 1st. The actual changes aren’t quite what he had predicted, but are pretty close.
Bank Of Canada Raises Interest Rate to 0.5% At June 2010 Meeting
This morning at its June 1, 2010 meeting, the Bank of Canada raised its key overnight lending rate (the rate at which it lends funds to chartered banks) one-quarter per cent (25 basis points) to 0.5%, its first rate hike in almost three years. What can we expect? Banks will be increasing their prime lendingContinue reading “Bank Of Canada Raises Interest Rate to 0.5% At June 2010 Meeting”
Upcoming Free Victoria BC Real Estate Seminar: Buying A Home
Ah… springtime… when a young person’s thoughts turn to… buying a home, of course! The spring market is here, and many first-time buyers are taking advantage of record low interest rates and making the jump into their own homes. How much do you need and how can you save for a down payment? What’s theContinue reading “Upcoming Free Victoria BC Real Estate Seminar: Buying A Home”
Your Home Is Not An ATM!
Something’s been bugging me for a while now, and I’ve been meaning to write about it. You know the commercials on the radio and TV. I probably hear them half a dozen times a day, more if I’m listening to a Canucks broadcast. “Making your home equity work for you…..” “If you own your home,”Continue reading “Your Home Is Not An ATM!”
New Canadian Mortgage Qualification Rules Announced Today
Following a couple months of speculation, Finance Minister Jim Flaherty brought in some new regulations designed to tighten up lending practices and cool off the housing market in Canada. The government didn’t go so far as to reduce maximum amortization from 35 to 30 years, or increase minimum down payment requirements higher than 5%, butContinue reading “New Canadian Mortgage Qualification Rules Announced Today”
Upcoming Free Victoria BC Real Estate Seminar: Buying A Home
Is 2010 the year you decide to stop paying rent and invest in your future in the form of your very own home? How much do you need and how can you save for a down payment? What’s the best type of mortgage for you? What homes are available and what sorts of programs areContinue reading “Upcoming Free Victoria BC Real Estate Seminar: Buying A Home”
First Time Buyer Friday #6 – What Does My Money Get Me?
In my continuing series, First-Time-Buyer Fridays, I answer a common question from a first-time buyer. If you have a question to submit, first-time-buyer or experienced investor, put one in the comments below, or fire me an e-mail at Tim@TimAyres.ca. Q. I want to spend about $400,000 on my first home – what can I buyContinue reading “First Time Buyer Friday #6 – What Does My Money Get Me?”
Bank Of Canada Cuts Interest Rate to 0.25% At April 2009 Meeting
To the surprise of many analysts, this morning at its April 21, 2009 meeting, the Bank of Canada cut its key overnight lending rate (the rate at which it lends funds to chartered banks) another half-percent to 0.25%, continuing the trend of historic low rates in an effort to stimulate the economy. Since December 2007,Continue reading “Bank Of Canada Cuts Interest Rate to 0.25% At April 2009 Meeting”