21 Jul

Documents required to get the best mortgage rate

General

Posted by: Ashley Chrunik

Buying a house or investment property? We often hear how important it is to get pre-approved for your mortgage amount: It helps us understand our maximum house-price, the down-payment required and the monthly payments we’ll need to make once we purchase the property. But the difference between the pre-approval and the approval process is so […]

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15 Jul

Bank of Canada Cuts Rates 25 bps…Canadian Dollar Plunges

General

Posted by: Ashley Chrunik

Bank of Canada Cuts Rates 25 bps…Canadian Dollar Plunges The Bank of Canada cut its overnight rate target by 25 basis points to an historically low 0.5 percent today. The loonie immediately plunged to 77.5 cents U.S., down a full cent. The disparity between monetary policy in Canada and the U.S. is especially evident today […]

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12 Dec

The hidden trap of mortgage penalties at the big banks

General

Posted by: Ashley Chrunik

It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you won’t have to pay the posted rate on your next mortgage. Pretty much nobody does that any more, according to mortgage broker Robert McLister. The real danger is that posted rates will be used to calculate the penalty […]

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7 Nov

Is Refinancing Right For You?

General

Posted by: Ashley Chrunik

There are numerous reasons why homeowners choose to refinance their mortgages – everything from debt consolidation to freeing up money for their child’s education to using their home equity to buy another property. But the most popular reason for refinancing at this time of year is for holiday gift buying and entertainment. Planning ahead really […]

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30 Oct

Why no rate hike means variable mortgages are safe again

General

Posted by: Ashley Chrunik

A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going. There have been signs the housing market is in recovery mode with year-over-year sales rising in many markets, […]

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6 Aug

Preparing for Rising Interest Rates

General

Posted by: Ashley Chrunik

  The interest rate party for borrowers is almost over. Following almost five years of historically low rates, we’ve started to see some upward movement in the cost of money.   Most people watch the central banks for indications that rates are about to take off. But that’s not where the real action is for […]

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24 Apr

What happened to the expected Alberta real estate boom?

General

Posted by: Ashley Chrunik

CALGARY — Several ‘market influencers’ have kept the reins on the expected Alberta real estate boom, says a new report on the housing market. The report, by Don Campbell, senior analyst and founding partner of the Real Estate Investment Network, said debate is raging about why the market isn’t booming like it did in 2006 […]

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22 Jan

First Time Homebuyer Tax Credit

General

Posted by: Ashley Chrunik

You may qualify for the Canadian First Time Home Buyers Tax Credit when you file your personal taxes this year, so make sure you let your accountant or tax preparer know that you a bought a home in 2012. You can claim an amount of $5,000 for the purchase of a qualifying home made in 2012, […]

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12 Dec

Buying a rental property? How the financing game has changed

General

Posted by: Ashley Chrunik

Just four short years ago, you could buy an investment property with nothing down and get the best interest rates in the market. That was then. Today, rental financing is night-and-day different. To mortgage a small (a one-to-four unit, non-owner occupied) rental property now, you need to plop down one-fifth of the purchase price. And even […]

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