Fixed Rate Mortgages Fixed rate mortgages offer a stable payment that does not change throughout the term. With some lenders you have the ability to port and increase via blended rate or refinance with blended rate to avoid a penalty Statistically, most people don’t make it through a 5 year term for a variety of reasons such as: 1.- They move 2.- Need to refinance to access equity for debt consolidation 3.- To buy another property Bond Yields Unlike Prime which is dictated by Bank of Canada, fixed rates vary based mainly on bond yields. Bonds are typically safer investments than stocks. When the economy is less stable and stocks…
What are the risks of Condition-Free Offers?
Great question. In today's market, buyers are often in multiple offer situations and want to submit a clean offer that has no conditions. This is never advisable, but we do understand that this is a very competitive market.
If you have been pre-qualified by a licensed mortgage broker, you may be vetted by one or more lenders, however, the property has NOT been vetted. Below are some issues that could affect a lender’s willingness to lend on a particular property. Please note that this list is not exhaustive. There could be other issues impacting a lender’s decision.
Working with an experienced mortgage broker is a great plan when buying a house. They can help pull your credit score, achieve a pre-approval, and close your mortgage in no time, so you can move into your dream home. However, misconceptions about these professionals have misled many individuals into believing that hiring a mortgage broker is not a good idea.
Original Article Source Credits: canada, https://www.canada.ca
Article Written By: NA
Original Article Posted on: 2020-09-17
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html
Original Article Source Credits: betterdwelling, https://betterdwelling.com
Article Written By: Stephen Punwasi
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/canadian-markets-are-seeing-a-real-estate-boom-with-population-declines
First-Time Home Buyer Incentive to Become More Useful in Select Markets - Mortgage Rates & Mortgage Broker News in Canada
Original Article Source Credits: canadian mortgage trends, https://www.canadianmortgagetrends.com
Article Written By: Steve Huebl
Original Article Posted on: December 4, 2020
Original Article Source Credits: financialpost, https://financialpost.com
Article Written By: Kevin Carmichael
Original Article Posted on: Dec 18, 2020
Original Article Source Credits: movesmartly, https://www.movesmartly.com
Article Written By: David Larock
Original Article Posted on: November 3, 2020
Link to Original Article: https://www.movesmartly.com/articles/fixed-or-variable-rate-mortgage-right-now-its-no-contest
We are delighted to announce the launch of our new website!
New Website Coming Soon!