Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More? + MORE Mar 17th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Bank of Canada Raises Rate by 0.25% – Is it Time to Worry Yet? + MORE Mar 8th

As predicted, the Bank of Canada raised their benchmark rate a few days ago. No surprises here. And yet, the media will make you feel like this was out of left field. Even worse, they’ll spew fear mongering dribble that the train is off then rail. That every single BoC meeting for the rest of the .... More »
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How much you need to earn to afford a home in Vancouver and the GVA Jan 31st

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Affordability tips for first-time home buyers to securing a mortgage + MORE Oct 29th

Q. My partner and I rent a two-bedroom apartment in Toronto in a great neighbourhood for $1,850 a month—so, a great deal. We have been living together for three years and would like to buy a house together next year, when we both turn 30. Get the mortgage rate that works for you.Find the bes.... More »
Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More?
Your finances are in order and you’re pretty sure you can qualify for a mortgage. Congratulations, this is the first step on the road to homeownership. But can you pass our mortgage myths test?
If you’re a newbie homebuyer, making your way through the maze of mortgage terms, types, and down payment requirements is tough. According to a recent study, 92% of Canadians see at least one barrier to homeownership standing in their way and is causing concern. Two of their top worries are related to the mortgage process, with more than half of Canadians seeing their ability to qualify for a mortgage as an obstacle.
While we can’t control rising interest rates, we can help you become better informed about the mortgage process. We invite you to take our quiz and debunk some popular (but false) mortgage myths along the way.

The post Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More? appeared first on MoneyWise.

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Why Are Some Mortgage Rates Rising?

– canadianmortgagetrends.com

Fears over the COVID-19 pandemic and plummeting oil prices have caused mortgage rates to plummet to multi-year lows over the past couple of weeks. But now some lenders are actually starting to raise rates. Fixed rates on certain terms have been creeping back up, while some of the big banks have been quietly cutting their discounts on prime rate (which affects floating rates). Scotiabank, for example, raised its published 5-year closed variable rate 60 percentage points on Saturday, from 3.45% […]

Continue Reading On canadianmortgagetrends.com »

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