Blog, Mortgage Tips & Advice 28 Jan 2024 Mortgage Renewal Rates in Canada Here’s a crazy statistic: 80% of all mortgages outstanding as of March 2022 are coming up for renewal in 2024. This amounts to approximately $250 billion in mortgages. 2025 is expected to be an even… CMSpeople
Blog, Mortgage Tips & Advice 10 Jan 2024 How to Get a Home Equity Loan in 2024 If there is ever a time when homebuyers need to access their home equity, it’s 2024. Rising costs across all categories have tightened the grip on household budgets. While mortgage rates have increased gradually over… CMSpeople
Blog, Mortgage Tips & Advice 29 Dec 2023 What is the Prime Rate in Canada? What is the Prime Rate (or prime lending rate) you ask? The prime lending rate in Canada is a base rate used by commercial banks to determine the rate at which they lend you money.… CMSpeople
Blog 23 Dec 2023 How to Get the Lowest Mortgage Rates in Canada Want to know what kind of mortgage rate you are eligible for? Contact us today (905) 455-5005 and we'd be happy to help answer any and all of your mortgage related questions. nkad3
Blog, Mortgage Tips & Advice 15 Dec 2023 What is Mortgage Portability? Mortgage Portability Defined: Mortgage portability is when you sell your existing home and transfer your mortgage to your newly purchased home. So just like you, your mortgage can move too! Imagine being in a scenario… CMSpeople
Blog, Mortgage Tips & Advice 08 Dec 2023 Everything you need to know about Mortgage Payment Frequency While monthly mortgage payments are the standard for many homeowners, choosing a different mortgage payment frequency can help pay off your mortgage sooner, or at the very least, make it easier to manage your household… CMSpeople
Blog 01 Dec 2023 Mortgage Stress Test – What is it? What is the Mortgage Stress Test? Simply put, mortgage borrowers must qualify (on paper) at an interest rate that is the higher of: The rate being offered by the bank (the ‘contract rate’) + 2.00%… nkad3
Blog, Mortgage Tips & Advice 24 Nov 2023 What’s the Difference Between a Guarantor and Co-signer? Quick AnswerBoth help you qualify, but they're not the same. A co-signer goes on the mortgage and the title: a full co-owner, equally responsible for payments from day one. A guarantor backs the mortgage but… CMSpeople
Blog 16 Nov 2023 2024 Mortgage Rate Forecast Questions of hope… and for some, desperation. Are mortgage rates going to drop in 2024? Will the Bank of Canada continue with quantitative tightening, or begin with ever-so-needed easing once again? On October 25th, 2023,… CMSpeople
Blog 10 Nov 2023 What is a Second Mortgage (2nd Mortgage)? Many people often confuse the term “second mortgage” as a mortgage they seek when there are looking to purchase a home the second time around. Others understand the same term as when you refinance your… nkad3
Blog, Mortgage Tips & Advice 06 Nov 2023 Why Do I Need a Mortgage Pre-Approval? At face value, it might seem self-explanatory, yet we often get asked: What is a mortgage pre-approval, and why do I need one? People are right to ask though and that’s because there is some… CMSpeople
Blog 27 Oct 2023 What is a Reverse Mortgage? Think a Reverse Mortgage is right for you? Let our experienced agents help you today! Contact Canadian Mortgage Services for more information. nkad3 No Comments
