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by Jeremy
When searching for a home, choosing the right mortgage is a big part of the equation. Your mortgage broker can always walk you through your options, but really understanding what’s available to you can make things a little simpler. Conventional and High-Ratio: A mortgage loan with less than 20% for a down payment, is considered high-ratio, and must be insured. A conventional mortgage loan has a down payment of 20% or more. Open and closed: Open mortgages allow flexibility to pay as much as you’d like at any time (ideal if you’re expecting large amount(s) of money). Closed mortgages with consistent payments are usually favourable…
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On Wednesday, the Bank of Canada announced it was hiking its interest rate to 1.25 per cent, up…
Posted by Jeremy
Today, the Bank of Canada announced that rates would remain unchanged at one per cent, as they expect…
Posted by Jeremy
This week, the Bank of Canada raised their interest rate for the first time in seven years. But…
Posted by Jeremy
As you know, your variable rate mortgage, line of credit and/or student loans are all based on the…