Roma Luciw, a columnist for the Globe and Mail, published an article on Monday about the recent surge in popularity of the ten-year mortgage. There are distinct benefits to locking in for an extended period of time, especially now, with historically low rates that...
Latest News
Mortgages
Mortgage wars!
The Globe and Mail published an article last week about the latest round of price cuts on Canadian mortgages. Bank of Montreal has reduced its rates again, offering low five- and ten-year mortgages. In response, the other big banks in Canada have followed suit,...
Fixed or variable?
The Globe and Mail had a feature a while ago about whether you should choose a fixed or variable rate mortgage when you buy or refinance, which included this handy summary of the issues. As noted in the article, if you are less comfortable with risk or are certain...
The end of the variable era?
I read this very interesting article in the Globe and Mail the other day. In a nutshell: fixed rate mortgages are the way to go right now. Because of prime rates being so low, and the constant fluctuations in the markets, it is possible to get a fixed-rate mortgage at...
Bridging the gap
I have a lot of clients who are moving up and selling the starter home they own in order to buy a larger home. Most of the time, they have these transactions occur on the same day: sell in the morning, buy in the afternoon, spend the weekend moving in. But what...
Wouldn’t it be nice…
Many of us have seen the commercial: happy elderly people paying for renovations, trips and university education for their grandchildren through a reverse mortgage. I came across this excellent post from the Retire Happy blog, which details the pros and cons of a...