A Pre-Approval Is Not Really a Pre-Approval There is a misconception out there that once you’re pre-approved, you’re good to go. A pre-approval simply means that based on your CURRENT income, expenses, down payment and credit you SHOULD be able to get fully approved once you find the right property (this is the first half of […]

http://www.cmhc.ca/en/corp/nero/nere/2014/2014-02-28-1100.cfm   OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental […]

– Garry Marr | March 4, 2014 –   Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage and all the risks that come with an interest rate linked to prime. The lure is right in your face on every mortgage rate comparison site. The five-year fixed-rate mortgage […]

There is recourse if you’re at an impasse with a credit granter over an unpaid debt. You can ask the credit bureau to intercede on your behalf. By:Ellen RosemanPersonal Finance Columnist, Published on Tue Feb 12 2013   Scott Smith, 24, is an MBA student. He’s proud of paying his bills on time and having […]

By:Karin Mizgala and Sheila Walkington Published on Sun Feb 03 2013 In this excerpt from Unstuck: How to Get Out of Your Money Rut and Start Living the Life You Want, Karin Mizgala and Sheila Walkington offer ways to stay out of the debt trap.   1. Know why you want to be debt-free. Imagine […]

Why more home sellers are listing in January? ( By Mark Weisleder | Fri Jan 11 2013 ) Traditionally, January is a slow month for real estate as most sellers choose to wait until the middle of February in the hopes of capitalizing on the early spring market. However, given the uncertainty in the housing market […]

Interest rates to rise before end of 2014, governor Mark Carney suggests by Julian Beltrame on Wednesday, October 31, 2012 6:06am VIEW IN CLEAN READING MODE » WHAT IS THIS ?  Here at Maclean’s, we appreciate the written word. And we appreciate you, the reader. We are always looking for ways to create a better […]

When it comes to choosing  between a variable rate or fixed both are great options too. That’s because  interest rates are so insanely low these days. But I think what tips the  balance in favour of a fixed rate these days is that the price you pay for  certainty is incredible low. By Bruce Sellery […]

I realize that insurance agents get a bad rap. There are few people on the face of the Earth who can be more persistent than an insurance adviser. I often tell the story of the time I met with my own adviser who was trying to sell me a policy. I told him I would […]

There are generally two ways to get a mortgage in Canada … from a Bank, or from a Licensed Mortgage Professional.  While a Bank only offers the products from their particular institution, Licensed Mortgage Professionals send millions of dollars in Mortgage Business each year to Canada’s largest banks, credit unions, and trust companies … offering […]