Learning Centre

One of the most commonly misunderstood terms used in the mortgage industry is biweekly payments. The confusion comes from there being two options. Biweekly and accelerated biweekly. When most people use the term biweekly, they are referring to accelerated biweekly....

When purchasing a resale property, the closing date is a straightforward concept. It’s simply the date that the ownership is transferred from the seller to the buyer. Where it becomes more complex is when purchasing a pre-construction condo, as there is not just one...

Despite some not very exciting expectations for the economy, the greater part of Canadians keep on believing that home costs will rise in the next half-year, as indicated by the most recent edition of the Bloomberg-Nanos Canadian Confidence Index. As of the week...

Mortgage rates won’t make any big moves this month and could stay near or below 3%, which means you have an extended window to secure an exceptional mortgage or refinance rate. The current mortgage interest rates could be even better for certain types of refinance...

Are you looking to refinance your mortgage? Looking to consolidate debt? Searching for a HELOC? Then you’ll want to read this article. Here are the 10 top tips when shopping for a loan product in Canada. Home transactions such as second mortgages, investment property...

The rate of interest for a mortgage in Canada recently fell below the rate of inflation. This rarely happens, and the last time real mortgage rates were this negative was over 40 years ago. That was in the middle of an inflation crisis, where everyone bought property...

As more retirees look to reverse mortgages to get through their golden years, one of the country’s two lenders in the space is now offering more options. Equitable Bank, which currently has some of the lowest reverse mortgage rates on the market, has introduced the...

As well referred to as a ‘CMHC fee’, a ‘high ratio’ or an insured mortgage, mortgage default insurance is required for any purchase with less than 20% down payment. With this in mind, this article was written to offer the best possible advice on how to lower your...

Canada’s hot housing market was behind a 41.2% annual increase in new mortgages as of the first quarter, Equifax Canada reported. The average mortgage amount also rose by 20.5% to $326,903. “Low interest rates and speculation around U.S. inflation impacting our...

Almost everyone takes out a loan to buy a home. As the loan is being paid back, you build up the equity in your home. Home equity is the difference between the market value of your home and what you owe that bank on the loan. For example, if your home has a market...