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Today is the day Canadians will vote in one of the most exciting elections to hit the polls over the last several decades. Looking over the top five party’s platforms, here is a brief summary of what they are saying about protecting Canadian communities and the homeowner.
Your home away from home has turned out to be an oasis for the family weekends and summers away, but has it lagged in your expectations for generating rental revenue? This spring take note of some of the expert tips from CottageCountry.com.
1. Take Good Shots: Potential renters want to know that yours is a safe and solid bet for their vacation. They have many properties to choose from, so it is vital that yours stands out. Take quality photos in good lighting of every room of the property and different aspects of it from outside. Do not post low-light or out of focus shots. If you need to, borrow a high functioning digital camera from a friend or family member. Highlight the selling features of your property, such as the boat dock, the fire pit, the outdoor living space, or the intimate master bedroom.
Continue reading “Tips on Making the Most of your Holiday Abode”
Virtually any time you apply for credit or financing you are entering into a contract, the elements of which you need be cognizant of.
Entering into a binding contract is something you probably do more than your think, and think about less than you should. Virtually any time you apply for credit or financing you are entering into a contract, the elements of which you need be cognizant of.
The Financial Consumer Agency of Canada recommends consideration of the following steps before entering into a contract:
Continue reading “Seven items you should know before you enter into a contract”
If you are a Canadian mortgage broker, financial planner, real estate agent, or simply want to post today’s mortgage rates on your website, read on. Canadian Mortgage Rates can be posted to your website in as many as 200 different custom-fit mortgage boxes. These rate boxes will be up-to-date and tailored to suit your business.
Best of all, these Canadian mortgage rate boxes are available for your website free of charge and require no maintenance. The rates posted in your box will be updated each day automatically.
Accuracy and transparency are essential in today’s real estate and financial market. Why not keep your website up-to-date with Canadian mortgage rates that are reliable; and posted minute by minute?
Continue reading “Display Current Mortgage Rates On Your Website”
Government of Canada Tightens Reins on Canada Mortgage Market
As of March 18, 2011, two significant changes will take effect in Canada, with the third change commencing as of April 18, 2011:
Continue reading “Big Mortgage Changes to Hit Canada this March”
The U.S. has an atypically high proponent of mortgagors opting for longer term fixed rate mortgages,
The International Comparison of Mortgage Product Offerings report released this September, composed by Dr. Michael Lee for the Research Institute for Housing America (RIHA), has revealed many oddities regarding the American mortgage market.
For starters, for a developed country, the U.S. has an atypically high proponent of mortgagors opting for longer term fixed rates. Securitization also plays a larger role in providing housing financing than in other countries, such as Australia where securitization plays virtually no role but interest rates are overall higher.
Continue reading “The Unusual Mortgage Market of the United States”
selecting a fixed-rate five year mortgage term over a variable rate mortgage could grant Canadian mortgagors the best mortgage rates over the next five years
According to recent forecasts laid out by a CIBC economist, selecting a fixed-rate five year mortgage term over a variable rate mortgage could grant Canadian mortgagors the best mortgage rates over the next five years.
CIBC’s Benjamin Tal presented a chart at last week’s CAAMP forum to illustrate the savings a five-year fixed rate mortgage could potentially garner over a five-year variable rate mortgage.
Among Canadian first-time home buyers, the percentage whom employ a mortgage broker has risen from 30 per cent in 2006 to 45 per cent in 2010.
Interesting information comparing mortgage markets abroad with the mortgage market of Canada was presented last week by CAAMP’s international mortgage panel.
According to the Australian mortgage market report, provided by CEO Phil Naylor of the Mortgage and Finance Association of Australia, only three per cent of mortgages attained in Australia are transacted outside of a bank.
A RESP is a prime method for Canadian parents or guardians to put away education savings dollars for their children or beneficiaries and watch them grow tax-free.
The Registered Education Savings Plan (RESP) is a prime method for Canadian parents or guardians to put away education savings dollars for their children or beneficiaries and watch them grow tax-free.
RESPs involve a promoter and a subscriber. A subscriber can be a parent or common-law partner, an ex-spouse or former common-law partner, or a primary caregiver. The subscriber names a beneficiary, namely the child or children to whom the education savings will in time be paid. Contributions made to the RESP cannot be deducted from income tax, but within the RESP they may grow tax-free, and be paid out to the beneficiary tax-free as well. If RESP savings are not paid out to the beneficiary by the date of contract maturity, the promoter (though which the RESP is held) will return the RESP contributions to the subscriber, and no tax will be paid on the sum at this time.
According to Canadian insurance providers, the average Canadian will pay their mortgage in less time than that provided by their amortization through the option of pre-payments.
Rumors that the Government of Canada’s Finance Department is musing the possibility of dropping the maximum amortization from 35 years to 25 years are sparking discussion among financial experts and potential mortgagers.
The year before last the government decided to cut back amortizations on high ratio loans (loans that require financing of 80 per cent or more of the mortgaged property’s value) from 40 years to 35 years. Lessening the overall time homebuyers have to pay their mortgage loan back would decrease the amount of Canadians who could potentially qualify for mortgage financing. But is it in their best interest?