As politically popular as it is to spew “soak-the-rich” rhetoric during an election campaign, the reality is that it is a very inefficient way to raise revenues or to address income inequality. Indeed, it will actually shrink the economic pie. It provides a disincentive to entrepreneurial spirit and work effort and it will make it […]

THIS JUST IN, MORTGAGE INTEREST RATES ARE…..and there it is again…headline news about another low rate from one of the main lenders. But what does it all mean and why does it continue to grab the headlines on the evening news? It probably comes as little surprise that mortgage financing in Canada is big business […]

With a competitive market in full force, banks and credit unions are offering rates for their mortgages with free legal fees. Before you sign on what seems to be a great offer, take a look at the numbers and see what a mortgage with free legal fees is really costing you. This is one of […]

Finance Minister Bill Morneau said today that Canada’s budget is deeper in the red than we were told in the 2015 budget as the economy’s performance has disappointed. He also revised down the government’s outlook for the economy over the next year. According to the Minister, the federal books are short roughly $3 billion in […]

There you are, sitting down with your realtor and preparing an offer to purchase for that amazing home that you just looked at this afternoon. You get to the point in the conversation with your realtor about the need for a financing condition and you’re trying to remember what you talked about with your Mortgage […]

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability . You must be considered a first-time home buyer.  You are not considered a first-time home buyer if you […]

Before home buyers go shopping for a home, it is important to know what you can afford before you buy. It is becoming more common for home buyers to make an offer, get declined for the mortgage and the deal collapses. This is stressful for everyone involved, including the buyer, the seller and the realtor. […]

          This is a sequel to This vs That Here are a handful of additional terms used in the real estate and mortgage industry and hopefully the explanation will provide some clarity. MORTGAGOR VS MORTGAGEE The mortgagor is the borrower and the mortgagee is the lender. PORTABLE VS ASSUMABLE MORTGAGE The act of […]

  Versus (vs) – as compared to or as one of two choices; in contrast with. At least once a day I get asked, what’s the difference between ‘this’ and ‘that’? With this in mind I put together some content that will hopefully provide some clarity in regards to  a few of the more commonly […]

Today, with the Internet, we all have an abundance of information literally at our fingertips. Despite the information available many homeowners have limited knowledge about the mortgage process and products. Their lack of knowledge can turn out to be costly. Homeowners should know the difference between a conventional mortgage and a Home Equity Line Of […]