Property Tax HoldbacksTax arrears to the municipality take priority over a mortgage. As such, lenders are very concerned ..."more... |
Long or Short?The most difficult question facing a potential mortgage borrower is, "Do I go long term or short term?"more... |
40 Year Amortization?Genworth Corp. /CMHC (mortgage insurers) have agreed to issue first mortgages with amortizations up to thirty 35 years, and in some cases 40 years! Is this a good thing?more... |
Interest Adjustment Dates?For ease of processing, most lenders prefer ALL of their payments to be made on the same day of each month (usually the 1st or 15th)."more... |
Weekly or Biweekly?A privilege that is offered to Mortgagors (borrowers) is the option to choose weekly or bi-weekly mortgage payments so as to pay off the mortgage quickly. Should you use one of these? Why?more... |
Hi Ratio FinancingAt one time to buy a property you needed ALL CASH.more... |
Prepayment Priviledge?Let’s look at the various pre-payment privileges that are offered to the Mortgagor (you) that will enable you to reduce your debts quickly.more... |
Term and Amortization?These two words are the basis of some of the most important considerations that the prospective borrower must address. What do they mean and how important are they?more... |
Should I have Mortgage Insurance?Having Mortgage Insurance is strictly a personal choice, but one that should not be taken lightly. There are many factors to consider and many products to choose from.more... |
Pre Qualified vs. Pre Approval?But what does pre-qualifying really mean, and how much should a potential purchaser rely on this information? What's the difference between being "pre-qualified" and being "pre-approved"?more... |
Priorities of the 1st MortgageThe first item that takes priority to a first mortgage is the Realty Taxes levied through the municipality or township.more... |
Title Insurance?Title Insurance Provides Extra Protection for Borrowers and Lenders. Title Insurance is gaining in popularity in the Canadian market. But what is Title Insurance and who does it protect?more... |
How Much Does That Cash-Back Really Cost?One of the marketing techniques used by banks today is to give "cash-back" incentives for taking their mortgages. If it sounds too good to be true, it usually is. How much does that cash-back actually cost the client?more... |
Types of OwnershipThe most common form of home ownership in Canada is known as FREE HOLD."more... |
Rates For
Wed, Sep 8, 2010
5:35 am
| 1 Year (Closed) | |
| CIR: 2.60 | Bank: 5.55 |
| 1 Year (Convertible) | |
| CIR: 2.60 | Bank: 5.55 |
| 1 Year (Open) | |
| CIR: 2.60 | Bank: 5.55 |
| 2 Years | |
| CIR: 3.25 | Bank: 3.45 |
| 3 Years | |
| CIR: 3.70 | Bank: 4.30 |
| 4 Years | |
| CIR: 3.89 | Bank: 5.24 |
| 5 Years | |
| CIR: 3.89 | Bank: 5.50 |
| 7 Years | |
| CIR: 4.85 | Bank: 5.70 |
| 10 Years | |
| CIR: 5.19 | Bank: 5.89 |
