855 55 FUNDS
855 55 FUNDS
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. One…
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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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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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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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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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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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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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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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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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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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We’ve all heard doomsday reports about the Toronto housing market. Much like religious cults who predict the end of the world every few years, various reputable journals have been daily expecting the so-called Toronto housing bubble to pop for years. McLean’s, the Economist, the Wall Street Journal and Canadian Business have anticipated an imminent housing…
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We know all about Toronto’s red-hot home buying market, with bidding wars driving up purchase prices by 10’s of thousands of dollars. What is surprising is that, with fewer rental properties available, we are seeing bidding wars on rental properties too! Renting for $800 over-asking A client of ours recently renovated their basement and put…
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A long time client of Matrix Mortgage Global, Lloyd, had wanted to open up his own small business; a bottled water company. He had the business name registered for over 5 years and his friends started to tease him that he was never going to make the jump and start production. Lloyd was lamenting the…
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If you ever scratch your head in disbelief at how some of Toronto’s neighbourhoods have changed so dramatically seemingly overnight, there’s good reason to believe your eyes. According to the Toronto Star, almost one quarter of the city showed some signs of gentrification. Interestingly enough, just less than 1% of neighbourhoods actually made the jump…
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After reading this article you will want to JUMP at the opportunity to network this Wednesday, September 14 — RSVP HERE: http://bit.ly/2coCpWG 3 HUGE Benefits Of Networking Raising Your Profile The familiarity bias is a driving force behind the automatic assumption that someone or something you have had a lot of exposure to is safe, trustworthy and positive. By regular…
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Several forthcoming reports on the best cities for property investment in Ontario (SpendTree, Moneysense) suggest that looking outside the biggest housing markets will yield the most robust returns. Here’s our top 4 housing markets which are sure to surprise you. Thunder Bay. Yes, really. In the last five years, real estate prices in this Northern Ontario city have appreciated…
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Insider Tips: Which Renovations Will Boost Your Home’s Resale Value? When considering which home improvements to undergo, a good rule of thumb is to consider the amount of money spent compared to the value it will add to the home. This should not be the only consideration, as making sure that the home is structurally…
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