• New Down Payment rules coming to effect by February 2016

    Canadian government has made changes to down payment rules that will be effective by Feb 2016. These new rules are much better than previous ones. The updated percentages will affect the properties whose prices are between $500,000 to $1 million. Below is how these new rules work: 5% down payment on first $500,000 10% down payment on the remainder of purchasing cost no change to default insurance premiums no change in down payments for properties above $1 million Besides this,...

    Read More

    Shifting from Variable Rate Mortgage to Fixed Rate Mortgage? Be Aware..!!

    A lot of time people think of going from variable rate to fixed rate mortgage as variable rate mortgage is subjected to unanticipated rate changes. Here you will read about what are the common mistakes  made by people and how they can be avoided. Most of the people do not review the mortgage rates at timely manner and when the rates hikes up, it is already very late. Fixed Rate Mortgages depend on the bond market prices and bond dealers...

    Read More