If you have followed my blog for a while, I think you would understand me saying that I find it difficult to come up with interesting original material to provide. I mean…I am selling getting into the biggest DEBT that most people will ever likely incur, and I talk about a local housing market that… Read more »
Category: mortgage information
News and commentary on mortgages and real estate related matters.
I was meeting with my business development manager for Canadian Home Income Plan (CHIP) about their reverse mortgage product today, and he shared with me an experience with a client of his bank that is at once shocking but also, unfortunately, not uncommon. There is a private mortgage lender who advertises on the radio that… Read more »
Today’s Globe and Mail website features an article on the debate between using extra funds to pay down your mortgage vs. saving for retirement via RRSP’s in particular. It argues that the low rates of mortgages make it advantageous to invest instead of paying down debt.
Here is a good article on the CBC website that talks about breaking your mortgage to refinance with a better interest rate. I would generally agree with the points made in the article, except that the last point regarding splitting up the mortgage into multiple components I would not necessarily agree with. One reason for… Read more »
There is a new article in the Globe and Mail regarding the newest mortgage regulation changes being implemented by OSFI. From the article: One of the most notable changes is that the regulator is now spelling out criteria banks must meet to verify the income of borrowers, especially those who are self-employed. OSFI has waded… Read more »