How Low Can it Go?

We’re talking about the 10-year fixed mortgage rate.  Last year we saw them dip below the 4% mark (see some previous posts from last year: 10-Year Mortgage Below 4% & Should You Consider a 10-Year Mortgage?) and many Canadians started to make the switch to the previously unpopular 10-year term.  The 10-year mortgage continues to be popular this… Continue reading How Low Can it Go?

Debt Service Ratios — What are They?

When applying for a mortgage, one of the things lenders look for is whether or not the person/people applying for a mortgage can afford the mortgage payments.  Makes sense, right?  Obviously if they’re going to lend someone money to purchase a house, they want to be sure they can afford the payments each month. There… Continue reading Debt Service Ratios — What are They?

Mortgage Monday Rate Update – January 2013

Welcome back to BarrieRealEstateTalk! Cesia and I are looking forward to bringing you more great posts on real estate in the Barrie area.  If you’re a real estate professional in the Barrie area and you’re interested in doing some guests posts on BarrieRealEstateTalk.ca, send me an email – we’d love to have more contributors! For… Continue reading Mortgage Monday Rate Update – January 2013

What is a Co-Signer?

Occasionally with first time home buyers, the lender will ask for a co-signer or guarantor on a mortgage application.  This happens for a couple of reasons – usually due to the applicant not having enough income to support the mortgage on their own, poor credit, insufficient employment history or an inadequate down payment.  A co-signer simply adds… Continue reading What is a Co-Signer?

Mortgage Monday Rate Update: December 2012

While the mortgage industry slows down around Christmas, it doesn’t quite slow to a standstill.  For those that are shopping for a new house, or looking to do a refinance (or even just a simple mortgage renewal), rates and numbers are an important part of the mortgage equation. When rates change even the slightest of percentage… Continue reading Mortgage Monday Rate Update: December 2012