A recent move by major Canadian banks to increase fixed mortgage rates on the back of surging bond yields is unlikely to slow the country’s red hot housing market, as more than half of new borrowers take out variable-rate loans that are the cheapest they’ve ever been. The market share of new variable-rate mortgages surged
A mortgage term is the length of time a buyer is locked in to a certain mortgage with a specific lender at its rate and conditions. Each type of term has its pros and cons, so it’s important for you to consider your own financial situation when choosing one. Short-term vs Long-term Your risk tolerance
After speaking to several contractors and having floor plans drawn up by an interior designer, we were told to budget approximately $90,000 for the renovation. While we knew our project list was substantial—a full kitchen, bedroom, ensuite bathroom, living room, laundry facilities and storage closets—that large number was still hard to swallow. However, none of
