Part 1 - Credit Score Basics for Mortgage Hunters
It’s no surprise to anyone that your credit score is a heavily weighted factor when applying for a mortgage. What always surprises me though is how many people have no idea what their credit score is or whether there are any errors on their report. Did you know you can get a free copy of your credit report mailed to you by Equifax? I highly r ...
There has been a lot of press around the Vancouver Real Estate Market lately and how mortgage rates are pushing first time home buyers out of the market. Sales have started to slow in 2010 as many first time buyers took advantage of low rates in the last quarter of 2009 and early 2010. As more properties have come onto the market this spring, we are starting to see the return of the Buyers Ma ...
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RATE ALERT
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The Bank of Canada lowered it's overnight rate target by 1/4 percentage point to 0.25%. They plan to hold the current rate until the end of the second quarter of 2010. Bank of Canada's Press Release said:
"In an environment of continued high uncertainty, the global recession has intensified and become more synchronous since the Bank's January Monetary Policy R ...
With the uncertainty of job loss racing through many homeowners’ minds these days, taking a proactive approach to this issue by putting mortgage payments aside while you’re still actively employed can help set your mind at ease.
It’s a wise move to set money aside each pay period so you can accumulate six to 12 months’ worth of mortgage payments in a short-term GIC as security for a possible ...
The economy has shown some signs of health as of late with the recent rally in the stock market and real estate sales in February increasing slightly; however, we are still not out of the woods just yet.
What we experienced in the last few years, especially in the real estate market has come and gone. Don't expect to see the gains we say during our pre-recession period any time soon. We have ...
Industry News
With financial institutions in the United States either faltering or collapsing altogether, banks in Canada now find themselves among North America’s largest.
A new ranking by Bloomberg News puts four Canadian banks among North American’s top 10, as measured by assets. Royal Bank, Canada’s biggest bank by assets, is now seventh largest in North America, according to data compil ...