FPAC response: As you’ve heard, the Bank of Canada recently announced it would be ending its “quantitative easing” program, the government bond purchasing program that contributes to keeping interest rates low. The end of...
Loan Mortgage Definition A financial agreement in which the borrower agrees to repay the lender the principal amount borrowed plus interest over a period of time. A secured loan used to buy a home...
To clarify, making a lump sum payment against your mortgage, SK, will not reduce your monthly payments. It will reduce your mortgage balance and the remaining number of payments, but it will not reduce...
The house went up for sale in April 2021 and sold in early May for $1,075,000. After realtor fees, closing costs and other debts were paid, we walked away with about $688,000. Our plan...
If, in the past four years, neither you nor your common-law partner occupied a home that you or your common-law partner owned, you can both qualify for HBP (not to be confused with the...
The perks of renting: About a year and a half after purchasing their townhouse, Agnew and his wife decided to flip the script by moving to Vancouver to rent. “The townhouse just wasn’t for...
Sellers are letting the market decide their home’s value It’s also important to understand the sellers’ perspective: they don’t want to put a ceiling on their potential sale price. As we’re experiencing really heavy...
If you both own 50% of the lot, and you change the ownership to joint tenants with right of survivorship, there should be no income tax implications either, Sheila. If you own a different...
Get the mortgage rate that works for you.Find the best rate for you in under 2 minutes at ratehub.ca. Let’s get started.You will be leaving MoneySense. Just close the tab to return. First, let’s...
The truth is there are a lot of questions you might have about home insurance. (“How much is home insurance?” How much does home insurance pay” and “How much does average home insurance cost?...
