Many of you know that the lowest mortgage rates in Canada often require default insurance. Insurance reduces credit risk and losses for lenders, and lenders often pass that savings through to consumers. What many don’t know is how to get insured rates if you already have a mortgage. Consider this example… Suppose youbought a $900,000 home a few years ago...
Five-year fixed rates have dominated consumer mindset all year, but that dominance may start waning in 2020. If you believe unemployment has bottomed out in this country, and you believe an inverted yield curve is rate-bearish, and you’re a financially secure borrower, you’re probably going to steer clear of a 5-year fixed. Instead, you might focus on terms that cost...
Imagine spending hours of your life to: research the best mortgage negotiate for a better rate apply to refinance at a new lender answer all the new lender’s questions collect all your documents get an appraisal review all the paperwork submit all the documents find a lawyer to close the mortgage get ready to close …then be told just five...
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