Anyone that lives in Mississauga, Ontario or anywhere for that matter needs to know why it is definitely a smart idea to refinance your debt. There are many reasons why refinancing is a good idea and understanding the most important reasons will help you see why it is a smart decision for you.
Here are the most important reasons why refinancing is definitely a smart idea for most people these days.
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Monday, May 17, 2010
Friday, May 14, 2010
A Clear Picture Of What A Reverse Mortgage Is
Have you heard of a reverse mortgage but are not sure exactly what this is or if it could benefit you? Then you need to know more important information about this type of mortgage to see if you can take advantage of it.
People that live in Mississauga, Ontario and Canada can also take advantage of it because this could be a great option for you. You first need to understand exactly what this type of mortgage is.
Everyone knows that with a regular mortgage you have a monthly payment that needs to be made. With the reverse option you won’t make any payment but will instead get a payment sent to you.
You are basically turning the equity that is in your home into cash that you can use for whatever you want to use it for.
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People that live in Mississauga, Ontario and Canada can also take advantage of it because this could be a great option for you. You first need to understand exactly what this type of mortgage is.
Everyone knows that with a regular mortgage you have a monthly payment that needs to be made. With the reverse option you won’t make any payment but will instead get a payment sent to you.
You are basically turning the equity that is in your home into cash that you can use for whatever you want to use it for.
Read More
Thursday, May 13, 2010
Variable Vs. Fixed - what everyone should know!
Since fixed rates started to climb and news of higher interest rates are on the horizon there has been one question on everybody's mind: Should I stay variable or go fixed?
Over the last 20 years borrowers have saved money by choosing variable mortgage products. But a risk of rising interest rates, as the economy recovers and inflation rises, means there is a chance on the horizon that variable rates could climb high enough and allow fixed rates to actually be the cheaper alternative at this time.
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Over the last 20 years borrowers have saved money by choosing variable mortgage products. But a risk of rising interest rates, as the economy recovers and inflation rises, means there is a chance on the horizon that variable rates could climb high enough and allow fixed rates to actually be the cheaper alternative at this time.
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Monday, May 10, 2010
2010/2011 Home Prices Forecast
The latest housing forecast from TD Economics leaves 2010 totals for sales and prices in Canada largely the same as its previous expectations in December, what has changed though is TD now expects a bigger change between a very hot first half of the year and a predicted cooler second half. The forecasting unit of Toronto-Dominion Bank released a report on Wednesday that maintained its call for housing resale’s this year to rise 2.1% to 475,000, and the average price to gain 9% to $349,000.
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Paul Mangion
http://www.gtamortgagematters.com/
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Paul Mangion
http://www.gtamortgagematters.com/
Tuesday, April 13, 2010
Whatever Happened to all those subprime mortgages?
Unfortunately they are still around. They have been popping up all over the country and causing major problems for the homeowners that took them out and it is going to get worst as the bulk of them are up for renewal over the next two years.
Fortunately the subprime market never grew to more than 5% of the total mortgage market but 5% is still enough to cause some major problems for those less fortunate. It is estimated that there are still another 30,000 of these mortgages coming due within the next 24 months....
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Paul Mangion
M.O.S. MortgageOne Solutions Ltd.
http://www.gtamortgagematters.com/
paul@paulmangion.com
Fortunately the subprime market never grew to more than 5% of the total mortgage market but 5% is still enough to cause some major problems for those less fortunate. It is estimated that there are still another 30,000 of these mortgages coming due within the next 24 months....
Read More
Paul Mangion
M.O.S. MortgageOne Solutions Ltd.
http://www.gtamortgagematters.com/
paul@paulmangion.com
Friday, April 9, 2010
Higher Interests Rates are in the cards for Canada but not as high as some are predicting!
OTTAWA - With the Canadian economy doing surprisingly well over the past six months, many see higher interest rates from the Bank of Canada in the not so distant future, but according to a report released Thursday from CIBC's chief economist Avery Shenfeld, rates are likely to remain at a very low 2.5% through to 2011.
In CIBC World Markets' latest Global Positioning Strategy report, Mr. Shenfeld lists several reasons for Bank of Canada Governor Mark Carney to keep interest rates subdued after July. He points out that the U.S. will probably have a more gradual approach to raising rates and if Canada gets too far ahead, that could send the Canadian dollar soaring.
"While factories are recovering in Canada alongside a global industrial revival, output remains nearly 20% below the pre-recession peak, and wages are now substantially above those stateside without the productivity gains to match. There's only so much of a competitive challenge that non-resource exporters can take in short order," Mr. Shenfeld said.
He also pointed out that inflation is not expected to rise much further and stimulus spending is expected to be reigned in by governments - including Canada's - which will slow growth.
"If the U.S., the U.K., and Japan all move from huge stimulus to even modest restraint, Canada will feel it in our export prospects come 2011," Mr. Shenfeld pointed out.
Click here to read more!
As Quoted in The Financial Post.
In CIBC World Markets' latest Global Positioning Strategy report, Mr. Shenfeld lists several reasons for Bank of Canada Governor Mark Carney to keep interest rates subdued after July. He points out that the U.S. will probably have a more gradual approach to raising rates and if Canada gets too far ahead, that could send the Canadian dollar soaring.
"While factories are recovering in Canada alongside a global industrial revival, output remains nearly 20% below the pre-recession peak, and wages are now substantially above those stateside without the productivity gains to match. There's only so much of a competitive challenge that non-resource exporters can take in short order," Mr. Shenfeld said.
He also pointed out that inflation is not expected to rise much further and stimulus spending is expected to be reigned in by governments - including Canada's - which will slow growth.
"If the U.S., the U.K., and Japan all move from huge stimulus to even modest restraint, Canada will feel it in our export prospects come 2011," Mr. Shenfeld pointed out.
Click here to read more!
As Quoted in The Financial Post.
Tuesday, April 6, 2010
How The Market Will Fix MLS Rules.
The Commissioner of Competition recently made an application to the Competition Tribunal claiming that the Canadian Real Estate Association (CREA) uses control of the Multiple Listing Service (MLS) to impose exclusionary restrictions on the use of MLS.
The commissioner claims CREA rules on MLS lessen or prevent competition and deny consumers the benefits of competition in the Canadian residential real estate services market. CREA maintains it has adopted the MLS rule changes proposed by the commissioner. However, the commissioner remains unsatisfied with CREA's changes. It has sought redress from the tribunal.
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The commissioner claims CREA rules on MLS lessen or prevent competition and deny consumers the benefits of competition in the Canadian residential real estate services market. CREA maintains it has adopted the MLS rule changes proposed by the commissioner. However, the commissioner remains unsatisfied with CREA's changes. It has sought redress from the tribunal.
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