Bank of Canada hikes key interest rate to 0.5% The Bank of Canada raised its benchmark interest rate to 0.5 percent on Wednesday for the first time since slashing the benchmark rate to near-zero at the start of the COVID-19 pandemic, in a bid to help fight inflation which is at its highest levels. When […]
After our health, we can say that COVID-19 affected our finances the most. Toronto, Mississauga and the area was especially hit hard. Paying your mortgage probably suddenly became a challenge or you decided to postpone your new home purchase, especially if you were first-time home buyers. Who would have thought just a year ago that […]
Since March, Bank of Canada has made several cuts to its benchmark interest rate as a response to COVID-19. As of now, the prime rates are currently at 2.45%. The next Bank of Canada meeting will be on April 15, 2020. Will they make further cuts to the interest rate? The central bank says it […]
Applying for a Home equity loan is quite a daunting task for people who have never dealt with home ownership before. Equity in your home creates huge financial value for any property. There are two major kinds of Home Equity loans: Standard Home Equity Loan Home Equity Line of Credit Pick a Suitable Home Equity […]
Financial crisis in the life of all individual is quite common. At some point of time in their life, most of the people face situation of deficit financing. In such financial crunches, you generally look for getting loans from banks or money lenders. No matter whether you are in need of money to buy a […]
Hiring a right mortgage service assists you to secure loans from different banks and at the same time, it also helps you in getting best deals. A mortgage agent actually acts like middlemen who mainly negotiate in securing best deals for you. For example – if you want to start a new business then an […]
What is a reverse mortgage? In brief, a reverse mortgage is a type of home loan for homeowners aged 55+ that requires no monthly mortgage payments. Reverse mortgages allow the borrower to access equity they have built up in their homes now and defer payment of the loan until they die, sell, or move out of the […]
It is a well-known fact that with any investment comes significant risks and benefits and how important it is for an investor to properly weigh those risks and benefits before making a decision. It is only logical for an investor to have proper knowledge about the investment; in this case the property beforehand to help […]
Buying your first home is an exciting experience and it can also be quite stressful. The process of buying a home can be confusing and with all the new rules and changes to the market the amounts of things that can go wrong are endless. Here are some tips to help you reduce the stress […]
Traditional mortgages don’t always work for everyone, sometimes choosing a private mortgage may = be the better option. Similar to traditional mortgages, private mortgages let you borrow on the equity you’ve built up in your own home, or purchase a home (if you have the required down payment). But the main difference between a traditional […]
