The spring of 2015 has seen a dramatic reduction in interest rates. From a high of 3.09% in December to 2.59* today for a 5 year fixed rate mortgage, the drop of over half of a percent has increased affordability, and allowed for buyers in the market to qualify for larger mortgages -and thus purchase…
As we all know, home renovations can be costly. Ranging anywhere from a few hundred dollars for shelving, to $150,000 or even more for major home improvements, the cost of renovating a home can often prohibit change. Adding bedrooms, finishing a basement, renovating a bedroom or bathroom, or even mandatory improvements like replacing a roof,…
As we all know, home renovations can be costly. Keeping this in mind, many homebuyers avoid properties that would need to be modified to meet their needs -regardless of location, ‘charm’ or purchase price. Coming up with an additional $10,000, $20,000 or even $100,000 for renovating a home on top of a down payment can…
The cost of purchasing a home in Alberta is about to get a little more expensive, again. Just weeks after Alberta’s Provincial Government increased title registration costs by nearly $1,000 on the registration of a new mortgage, both CMHC and Genworth (Canada’s two largest mortgage loan insurers) have announced an increase of 15% to mortgage…
The cost of a mortgage is about more than rate, here are 4 things to look out for As consumers, we are all looking to minimize the cost of our mortgage. Less money paid to the mortgage company means more money in our pockets to spend on any of the many costs of life. In…
