Line of credit for flooding Underwater car on Wilson Ave. in Toronto Emergency funds are one example of good use of a line of credit. In the link to the video below we have an example of unpredictable events against which we should keep monetary provisions like a line of credit. Recuperating from this losses…
Household credit growth in Canada The information on the following graph helps us observe that from the past 7 year approximately borrowers are paying more importance to their secure mortgage credit rather than easy to obtain commercial credit like credit cards; Thanks in part to the federal government regulations and on to the slow economic…
Decreasing bond value pushes to higher mortgage rates Financially speaking, a bond is a debt instrument that based on a current rate pays interests with certain periodicity and investors attracted to profit from those bonds may see their principal invested upon maturity of the bond. Since the mortgage rates having remarkably low due to a…
Mortgage renewal 5 years vs 10 Here is one great advantage of renewing your mortgage loan with us, rather than banks. Scenario renewing your mortgage with a bank for 5 years: Mortgage amount = 300,000 mortgage rate @ 5 yrs 3.00% Balance at maturity = 248,685 Repeat the mortgage renewal with the same factors 5…
Canadian job market 2012 The Canadian job market ended 2012 with a bang, as it created 39,800 net new positions in December. The monthly report card was a whopping eight times what the market had been expecting. If we broaden the period of interest to the fourth quarter, the Canadian economy churned out 100,800 new…
Lowest mortgage rate for 10 years quick close high ratio The following are our current mortgage rates Mortgage rates Variable mortgage rates 3 yrs variable 2.65% 5 yrs variable 2.85% Open HELOC 3.50% Fixed Mortgage rates 6 Months 3.95& 1 Year 2.65% 2 Years 2.69% 3 Years 2.79% 4 Years 2.89% 5 Years QC 2.85% 5 Years…
Mortgage rates Variable mortgage rates 3 yrs variable 2.65% 5 yrs variable 2.85% Open HELOC 3.50% Fixed Mortgage rates 6 Months 3.95& 1 Year 2.65% 2 Years 2.69% 3 Years 2.79% 4 Years 2.89% 5 Years QC 2.85% 5 Years regular 2.95% 7 Years 3.59% 10 Years 3.89% Mortgage Rates are subject to change without…
CHMC Housing Market Report Toronto Fall 2012 Market at a Glance – New home construction and resale activity will slow into the first half of next year, setting the stage for an improvement during the second half of 2013. – New home construction starts will reach 37,600 units in 2013, including 10,100 singles and…
Why Mortgage Insurance? August 31, 2012 If you only have a CHMC Mortgage loan insurance; that protects the lender against default you should consider a Mortgage protection plan to protect your self and your family against default. If banks insured their mortgages to protect themselves, why wouldn’t you protect yourself? Here are some situations during the term of…
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