Tag: mortgage payments

Longer mortgage amortizations.

Longer amortizations…why do they cost more?

By: igill

With new regulations, insured mortgages have a maximum 25 year amortization. Banks often choose to insure low ratio mortgages, and cover the cost themselves. Having insured mortgages allows banks to off load the risk and securitize these mortgages.

Possibility of rate increase looms

By: The Super Broker

Among all the ups and downs in Canada's housing market over the last few months, one thing has remained certain: Mortgage rates are low. This has spurred homebuyers and homeowners alike to obtain new mortgages or refinance their current ones, offsetting the cooldown in sales due to Finance Minister Jim Flaherty's restrictions on government-backed mortgages. …

Low mortgage rates

Mortgage rates present opportunity

By: The Super Broker

Historically low mortgage rates are continuing to make homeownership affordable for Canadians, according to the Royal Bank of Canada. Data from the RBC's Housing Trends and Affordability report shows that low mortgage rates are keeping Canadian homeowners from entering dangerously unaffordable territory. Additionally, the report stated that rate increases are likely not on the horizon. …

scotiabank

Homeowners optimistic regarding mortgage repayment

By: The Super Broker

New data from Scotiabank reveals that homeowners are feeling more confident in their ability to pay off their mortgages faster.

Paying off a mortgage faster

By: The Super Broker

Data from the Canadian Imperial Bank of Commerce shows that Canadian borrowers believe it will take them longer than previously thought to pay off their mortgages.

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