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My Mortgage Blog — Latest Posts
MORTGAGE RULE CHANGES FOR CONVENTIONAL MORTGAGES – STARTING JAN 1.
The Office of the Superintendent of Financial Institutions (OSFI) released revised guidelines for the mortgage industry, similar to the draft version released earlier this summer. These new...
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Bank of Canada hikes interest rate to 1%
Bank of Canada hikes interest rate to 1% as country's powerful growth broadensThe Bank of Canada is once again raising its benchmark interest rate as it sees the economy's powerful performance...
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Mortgage Terminology
Amortization: The number of years it takes to repay the entire amount of the mortgage.Appraisal Value: An estimate or a property’s market value by a professional Appraiser; used by lenders in...
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What Not to do Before Purchasing a Home
No Major Purchases of Any Kind - This includes furniture, appliances, electronic equipment, jewelry, vacations, expensive weddings and automobiles.Do Not Move Money Around - When a lender reviews your...
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