My daughter, Jessica, recently received her mortgage renewal papers in the mail. As the end of her first mortgage term grew near, the bank had automatically sent her paperwork for another 4 years.
Jess said her proposed new mortgage rate was 5.3% for four years. I thought I'd misheard, or maybe her young eyes were deceiving her. Maybe she needed her dad's new trifocals. Surely, she must have m ...
Financial analysts in Ottawa have been eyeing the hot condo market in Toronto and other Canadian cities with concern for some time.
To cool things down they made changes to amortization periods for government insured mortgages. The history of the changes to these mortgages are:
- From maximim 40 years to 35 years in 2008
- From maximum 35 years to 30 years in 2011
- From maximum 30 years to 2 ...