Archive for: January 2013

Paying Off Your Mortgage Faster

Filed under: Mortgage - 29 Jan 2013

THINK OUTSIDE THE BOX:  It’s paying “more” that pays off the mortgage earlier, NOT paying “more frequently’ as many articles out there lead you to believe.  Paying more frequently does the job only if you ‘accelerate’ your payments (for example, making …

Consider using RRSPs for down payment

Filed under: Mortgage - 22 Jan 2013

THINK OUTSIDE THE BOX:  No RRSP’s??… but you have existing savings or gifted funds for down payment??…. If your purchase is not closing for at least 90 days, consider depositing your savings and/or gifted funds to your RRSP – you’ll …

The secret to financial success in 2013? Baby steps

Filed under: Mortgage - 15 Jan 2013

Your landlords send you a letter informing you that rent is going up $50 per month. Do you move? Probably not. Instead, you suck it up and curse them under your breath.

Over time, we adjust to gradual price increases but …

Canadian Mortgage Rates Hinge on the Americans

Filed under: Mortgage - 08 Jan 2013

If you want to know what’s moving Canadian mortgage rates, watch the American news.

The reason?  Canadian bonds are 95% correlated with American bonds (Treasuries) and bond yields are 97% correlated with 5-year fixed mortgage rates. (See: Yields and Fixed Mortgage …

Tips On Buying A Profitable Investment Property

Filed under: Mortgage - 02 Jan 2013

Although you have to consider essentially the same factors, buying a home for investment purposes is still different from purchasing a home for settlement; you have to pay closer attention to present factors that can influence future prices and you …