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
Author: Tim
Tim is a mortgage agent in Barrie who specializes in helping first-time home buyers. He works with a variety of lenders and can help customize a mortgage with the best rates & options that fit the needs of each customer.
10-Year Mortgage Below 4%
The 10-year term in Canada is pretty rare these days (less than 1% of mortgages in Canada have a term 10 years or longer), but a 10-year term below 4% is unheard-of. Or, at least it was until last week. Gone are variable rates with “prime-0.9%” discounts (now they’re hovering right around prime which is… Continue reading 10-Year Mortgage Below 4%
Consumer and Industry Perceptions
As part of its commitment to understanding perceptions about the Canadian mortgage industry, CAAMP (Canadian Association of Accredited Mortgage Professionals) surveyed both consumers and industry members this past fall. I thought it might be interesting to look at some of the results of that survey (my comments in italics). Canadians have approximately 68% equity in… Continue reading Consumer and Industry Perceptions
The Best Mortgage Rate is Not Always the Best Option
In the mortgage world, there’s always a lot of talk about rate. What’s the current best 5-year rate? What’s the best rate I can get? What’s the best rate you offer? While rate is definitely an important part of the mortgage equasion (and we discussed a while back why term is also important), sometimes the… Continue reading The Best Mortgage Rate is Not Always the Best Option
Happy New Year!
Welcome to 2012! The authors here at BarrieRealEstateTalk.ca would like to wish you a Happy New Year. We look forward to bringing you more insightful, original real estate talk again starting next week. Have any questions or topics you’d like us to cover this year? Let us know in the comments below! TimTim is a… Continue reading Happy New Year!