Protect Yourself at Renewal
It’s a commonly held belief that if you’ve made your mortgage payments on time throughout the entirety of your mortgage term, that the lender is somehow obligated to renew your mortgage. The truth is, a lender is never under any obligation to renew your mortgage. When you sign a mortgage contract, the lender draws it up for a defined time, so when that term comes to an end, the lender has every right to call the loan. Now, granted, most lenders are happy to renew you
Porting Your Mortgage
Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate...
Mortgage Options for Older Canadians
Although it’s ideal to have your mortgage paid off by the time you retire, that isn’t always possible in today’s economy. The cost of...
Locking in a Variable Rate Mortgage
If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can...
Bank of Canada increases its benchmark interest rate
Today, in its second scheduled policy decision of 2022, the Bank of Canada made good on its pledge to increase interest rates in the face...
Residential Market Commentary - The War and Interest Rates
This week’s interest rate announcement by the Bank of Canada was almost universally expected to bring an increase; probably 0.25% but...
