Good news for prospective home buyers! The Bank of Canada (BOC) just announced another 50 basis point cut to its policy rate, taking it down to 3.25% from 3.75%. This rate cut is a significant move that is surely going to improve the market gap in real estate. The Dec. 11 move is the central...
A mortgage holder replaces their current mortgage with a new one when they choose to refinance. Every year, thousands of borrowers opt for this option in order to access equity, shorten the loan’s term, convert an adjustable-rate mortgage to a fixed-rate mortgage (or vice versa), consolidate debt, or get a lower interest rate on the...
Looking for a mortgage refinancing service in Surrey? Buying a new house is an exciting occasion with a lot to do, whether you’ve done it before or for the first time. What if mortgage interest rates fall below your current rate while you are still paying it off? Refinancing your mortgage loan may allow you...
Wondering whether to choose an insured or uninsured mortgage? No matter, which bank or lender you are lending with, residential mortgages in Canada fall into two categories, namely insured or uninsured mortgage. One of the many advantages of being a first-time home buyer in Canada is the ability to purchase with as little as 5%...
Everyone aspires to live in their perfect home. If one plans to build their own home rather than buying a ready-to-move-in, the experience will definitely be unique. A home construction mortgage or home remodeling mortgage allows you to borrow money to build your own home rather than purchasing an apartment. As each stage of home...
