Date Posted: February 23, 2012 Seeing a light at the end of the tunnel when it comes to your mortgage payments is a terrific feeling. However, discharging early, though satisfying, isn’t without penalties. This article from the Toronto Star illustrates various situations in which a prepayment penalty can occur, and how to avoid paying more…
The Canadian Mortgage and Housing Corporation, the crown corporation that insures Canadian mortgages, seems optimistic about the housing market in the next two years. Recently, there have been steadily rising concerns of what record low mortgage rates will do to the housing market. However, in this article we learn the CMHC is predicting the market will stay…
When we were looking to sell our first house and buy a second we agreed to meet with a realtor. After that disastrous meeting we had just about decided to not use one at all when we were fortunate to meet Tom Sapinski. We couldn’t have been happier with him. As a realtor, he makes…
Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board’s Multiple Listing Service system compared with 677 in January 2011, an increase of one per cent. The five-year average for January sales is 652. Of those sales, 138 were in the condominium property class, while 546 were in the…
Rock-bottom mortgage rates have been the fuel behind Canada’s house-price boom. Now, they may also be the shield keeping that boom from becoming a bubble. Bank of Montreal chief economist Sherry Cooper argues that despite the Bank of Canada’s repeated warnings about the alarming deterioration in the country’s household debt levels, driven in no small…