Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the… Continue reading Mortgage Monday Rate Update – February 2012
Housing Bubble or Housing Balloon?
Since Monday, there has been a lot of talk in the real estate industry about BMO’s latest report on Canada’s housing market. First, let’s get some definitions out of the way. The word “bubble” has been used a lot since the recession started a couple years ago. But what does it mean? Basically, the value… Continue reading Housing Bubble or Housing Balloon?
What exactly are condominium declarations, by-laws and rules?
A condo declaration is a document that creates the condominium corporation. It defines what each unit is physically, establishes the common elements, and assigns responsibility for repair and maintenance of each unit and the common areas. It also sets out each owner’s proportionate interest in the common elements and share of the common expenses, and… Continue reading What exactly are condominium declarations, by-laws and rules?
Mortgage Amortization – A Common Sense Overview
Article courtesy of MCAP. A good way for a borrower – let’s call our borrower Barry – to understand the concept of “amortization” in the context of mortgage repayment is to look forward to a time when the mortgage is fully re-paid. How much is Barry borrowing and how much can he afford to pay… Continue reading Mortgage Amortization – A Common Sense Overview
A Picture is Worth 1000 Words
You’ve seen the listings on realtor.ca. The ones with photos that are dark, off-centre, fuzzy, maybe with dirty dishes in the sink…you know what I’m talking about! Some listings don’t have any photos at all!!! Check out Hooked on Houses for a variety of incredibly terrible MLS photos 🙂 You may think that if you… Continue reading A Picture is Worth 1000 Words