Should You Switch Lenders at Mortgage Renewal?
Switching lenders at renewal often saves you money, because your current lender rarely offers its best rate on the renewal letter. Moving your mortgage to a new lender can secure a lower rate, but it comes with its own paperwork and a fresh approval. The right choice depends on the rate gap, any penalties, and […]
Should you break your current Mortgage?
Breaking a mortgage in Canada typically involves paying a penalty and other fees. It’s a complex and costly decision that requires careful consideration. Get expert advice from a financial advisor or mortgage broker before proceeding.
Breaking: CMHC Announces Changes to Insured Mortgages
Canada Mortgage and Housing Corp. is toughening up its rules to make it harder to get mortgage insurance, a move that would reduce demand from riskier borrowers and keep prices in check at a time of economic uncertainty. The new criteria, effective July 1, are designed to help weed out borrowers who are less likely […]
Should I refinance my home now?
With rates at all-time lows you might be asking yourself, should I refinance my mortgage now? The first thing you should consider when deciding if it’s the right time to break your mortgage and refinance is to ask yourself why are you breaking your mortgage? Are you wanting a lower interest rate? Do you want […]