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Save on Interest Payments

If you ever watch HGTV Canada, you’ve most likely seen shows like “Til Debt Do Us Part” or Slice channel’s “Princess” – shows that bring in a professional to help people come to their senses and manage their debt. Everywhere you turn these days, you’ll hear people talking about debt. The economic crisis in the United States and Europe has shone a light ...

Understanding Your Credit

Your personal credit is serious business.  Unfortunately, credit is complicated and it can easily be taken for granted. Most of us pay our bills on time every month so we assume we don't have anything to worry about.  My concern and most often discussed issue regarding credit is over-use; specifically with credit cards.  Simply paying the minimum on your credit ...

What Happened in 2011?

It’s that time of year again. The market slows to a crawl as Canadians prepare for the holiday season, and we all stop to reflect on the year that has passed. What did 2011 mean to CENTUM and to the mortgage industry? When we think about it, one word comes to mind as the best description: Change. The vast majority of Canadians have been sheltered from the economic turmoil seen around the world ...

“Snowbirds” Escape for Winter

Everywhere you turn, people are talking about the economic slowdown and if it’s still a good time to buy that vacation home in the U.S. or someplace else. According to the National Association of Realtors, Canadians were the biggest foreign buyers of American real estate in 2010. That shouldn’t be surprising considering our proximity and the strong Canadian dollar. Real estate companies ...

How Do You Choose Which One is Better - Fixed or Variable?

As promised in our blog last month, I thought we would do an overview of fixed versus variable rates, as this is a constant water cooler topic. As predicated, lenders have made significant changes to variable rate products. Most of the leading lenders are still offering prime rates at 3.00%, and five-year fixed mortgage rates are hovering in the 3.40% – 3.69% range. What does this mean to ...

Is It Time to Break Your Mortgage Contract?

Is It Time to Break Your Contract? With mortgage rates still hovering at a 30 year historic low and the likelihood that mortgage rates will rise; chances are you have considered breaking your current mortgage term and processing an early renewal before rates rise substantially. In some cases, the lenders are open to negotiations regarding your penalty if there is a short amount of time remaining ...

Giving Thanks to Low Mortgage Rates

At this time last year, sitting around the feast laden table, many economic forecasts indicated that mortgage rates would be on the rise in 2011. Here we are on the fleeting end of the year and rates for the most part have remained at a historical 30 year low. Although prime rate remains unchanged, a noticeable trend over the second half of the year seems to be the pricing by the mortgage facilitators ...

Is buying a student condo for my child a good investment?

Sometimes a parent decides to buy a place for their children while they hit the books in university or college.  It can be a good alternative to paying thousands of dollars toward residence fees or rent.  Just look at the math: Student rent of $500 a month = $6,000 a year = $24,000 over 4 years of school. That money could go to your mortgage instead as an investment for you! ...

If Disaster Strikes Your Home: Will You Be Protected?

Recent images of devastating floods, tornadoes and fires, along with warnings by Environment Canada of the potential for severe summer weather, might have you wondering what protection there is for your home in the event of a natural disaster. Did you know that overland flooding is not covered by home insurance? Government assistance can be there to assist communities ...

Poll: Almost 40% of Young Condo Buyers Not Aware of New Lending Rules

A recent poll conducted by Environics Research Group for TD Canada Trust reveals, not surprisingly, that the majority of urban Canadian condo buyers are first-time home buyers.  Environics polled 806 people in Montreal, Toronto, Calgary and Vancouver who have bought a condo in the past 24 months or intend to buy a condo in the next 24 months. Results ...
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Viewing All Posts. 92 Posts Found.
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