Thursday, May 30th, 2019 1:13 pm , Posted by
Matrix Mortgage Staff Writer
Home renovations can add a lot of value to your home both in terms of your house’s market value and in terms of your own enjoyment. Major home renovations however can be quite expensive, and if you do not have all of the money saved up, you will have to borrow it from somewhere. […]
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Friday, April 27th, 2018 2:27 pm , Posted by
Matrix Mortgage Staff Writer
If you are a Canadian over the age of 55, you have probably heard about reverse mortgages and you may be wondering if they are right for you. Simply put, a reverse mortgage is a loan which makes use of the equity in your home. You may choose to receive that loan as a lump […]
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Tuesday, April 24th, 2018 2:16 pm , Posted by
Matrix Mortgage Staff Writer
According to a report that was recently released by CIBC Capital Markets, 47% of mortgages in Canada will be up for renewal in 2018. This is a significant increase from the 25-35 per cent of mortgages that are normally up for renewal in a typical year. This comes at a time when interest rates are […]
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Friday, April 13th, 2018 5:19 am , Posted by
Matrix Mortgage Staff Writer
If you are having difficulty in qualifying for a traditional mortgage, getting a private mortgage may be a solution to help you get into or stay in your home. In the past private mortgages have accounted for approximately 4-5% of all Canadian mortgages, however with stricter lending rules now in effect, that number is expected […]
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Monday, April 9th, 2018 6:38 am , Posted by
Matrix Mortgage Staff Writer
The new mortgage stress test rules are starting to show their effects as more renters decide not to enter the housing market. Consequences for renters One of the unintended consequences of the new mortgage rules is that because less people are buying homes, rental prices of condos and apartments in Toronto have surged more than […]
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Thursday, April 5th, 2018 6:34 am , Posted by
Matrix Mortgage Staff Writer
Taking out a second mortgage or home equity line of credit (HELOC) can be a great way to get the cash you need for things like home repairs, children’s tuition or to pay off high interest debt. It allows you to use the equity in your home without breaking your first mortgage. But how do […]
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Monday, April 2nd, 2018 6:24 am , Posted by
Matrix Mortgage Staff Writer
One of the choices you will have to make when you apply for a mortgage is whether you get a fixed rate mortgage or a variable rate. The majority of Canadians choose fixed mortgages because they like the stability of knowing their rate is not going to change – but if you’re willing to handle […]
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Thursday, March 29th, 2018 10:18 am , Posted by
Matrix Mortgage Staff Writer
Between their credit cards, student loans, and lines of credit, many Canadians are struggling with debt. If you’re reading this article, maybe you can relate. It can be frustrating to see so much of your income go to creditors and have nothing to show for it. One solution that many Canadian homeowners turn to is […]
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Monday, March 26th, 2018 10:12 am , Posted by
Matrix Mortgage Staff Writer
It just got a little tougher for Canadians to get approved for mortgages. As you may know, new rules introduced the beginning of 2018 introduced a stress test – the goal of which is to make sure that homeowners are able to make their mortgage payments even if interest rates go up. But how do […]
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Wednesday, November 29th, 2017 7:59 am , Posted by
Matrix Mortgage Staff Writer
Are you getting the best interest rate for your mortgage? Many homeowners aren’t. We all want to get the best interest rates possible and keep more money in our pockets. But too many people rush through the mortgage qualification or renewal process. Considering how much money is involved, it’s amazing how little research and effort […]
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