If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think? If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do.

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Trying to save up a down payment to purchase a home?  No need.  The Flex Down mortgage allows you to borrow the down payment and closing costs?
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The main objective of any mortgage borrower is to pay down there mortgage as soon as possible.  Naturally coming up with the money to do this is not that easy.  Two ways to chip away at your mortgage is to take an accelerated payment frequency and take advantage of the automatic payment increase allowed on your mortgage by your mortgage lender.  Here is an example.
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What is a conventional and high ratio mortgage?

A conventional mortgage is where the buyer provides a down payment of 20% of the purchase price. In other words the mortgage may not exceed 80% of loan to value. Mortgages that exceed this limit are called High ratio mortgages.
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Typical process for a renewal is you will receive a letter in the mail anywhere from 120 to 30 days prior to your maturity date. The bank will offer you a rate that may be lower than the posted rate but is typically much higher than the current market rate. Most of us will sign the renewal and send it back just to avoid the hassle of more paper work, but is that the best option for your bank account.
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The main objective of any mortgage borrower is to pay down there mortgage as soon as possible.  Naturally coming up with the money to do this is not that easy.  Two ways to chip away at your mortgage is to take an accelerated payment frequency and take advantage of the automatic payment increase allowed on your mortgage by your mortgage lender.  Here is an example.
Read More

Below is a great article I found posted on http://client.advisor.ca it talks about why today’s interest rates are low. Hope you enjoy the read.

Why are interest rates so low? Many would blame the government, says Ben Bernanke, distinguished fellow in residence with the Economic Studies Program at the Brookings Institution.
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If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think? If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do.

Read More

What is a conventional and high ratio mortgage?

A conventional mortgage is where the buyer provides a down payment of 20% of the purchase price. In other words the mortgage may not exceed 80% of loan to value. Mortgages that exceed this limit are called High ratio mortgages.
Read More