Is Renting Throwing Away Money?

Young people face a lot of pressure from their parents and peers to own a home. Canadians in general have a high rate of home ownership at 69 percent, and in many cases homeowners have seen tremendous growth in real estate prices for the past few decades. For these...

Should You Use An Online Mortgage Broker?

When I wrote about my mortgage renewal strategy last week a reader asked if it was a good idea to visit a rate comparison website and simply select the lender with the lowest rate. No doubt if you frequent these sites you’ll have noticed the lowest mortgage...

My Mortgage Renewal Strategy

Our mortgage comes up for renewal on September 1st. When we bought our home in 2011 I went with a five-year discounted variable rate mortgage at prime minus 0.80 percent. Such a steep discount wasn’t available when it was time to renew in 2016, so I chose a...

Can You Really Afford That Mortgage?

My husband and I purchased our first home when we were 23 and 21 respectively. Back then the mortgage approval process used all of his income but only 50 percent of mine. Income requirements have changed since then. If both spouses (or common-law, or other applicant)...

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