Leading the headlines is a warning from the Bank Of Canada regarding the levels of Canadian household debt. According to the report the average debt per household, including mortgage and credit card debt, hit $96,100, as the debt-to-income ratio climbed to a record 146 per cent. This means that for every dollar earned, $1.46 is owed to creditors. This news comes on the heels of recent rule ch ...
Good news from the Bank of Canada if you have a variable rate mortgage or line of credit. In their last meeting for 2010 the Bank of Canada has decided to leave the prime rate unchanged citing that while the global recovery is rolling out as expected there are some increased risks. You can read the full press report here.
What does this mean to you?
If you are in a variable rate mortgag ...
What is a private mortgage? A private mortgage is a mortgage contract in which the lender is not a registered financial institution. Instead, the lender may be a friend, family member or an individual investor.
Banks have strict guidelines surrounding their lending practices. This limits their ability to lend for certain scenarios or borrower profiles. As some borrowers may be marginalized th ...
Mortgage interest rates have edged up in response to a recent increase in bond yields. While mortgage rates have jumped about 20 points, rates still remain at all time lows. To find a mortgage that works best for you contact us at 416.461.0204 or visit us at our Danforth Avenue office in Toronto.
| Mortgage Interest Rates | |
| Term | Rate |
| 1 year fixed |
2.65% |
| 3 year fixed | 3.49% |
| 5 year fixe ... | |
