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... |
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... |
Long or Short?The most difficult question facing a potential mortgage borrower is, "Do I go long term or short term?"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... |
What are GDSR and TDSR?When applying for mortgage financing the mortgage broker will immediately ask you for certain pieces of information. Why do we ask these questions? Because we are going to reduce you, the future mortgagor, to a few mathematical ratios (I apologize).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... |
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... |
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... |
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... |
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... |
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... |
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... |
Property Tax HoldbacksTax arrears to the municipality take priority over a mortgage. As such, lenders are very concerned ..."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 |
