Fixed or Variable?

Posted on April 29th, 2010 by admin

When trying to decide if your Ontario mortgage loan should be fixed or variable the most important key may not be financial. There are plenty of things to think about from a financial aspect including; job security, assets, equity, and debt just to name a few. The good thing is many of these factors can be measured, for example you know you have $9,000 in stock investments as an asset or your credit card has a $1,200 balance. What is not so easy to measure is the emotional strain that rising rates could put on you.

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CIBC and Desjardins Raise Rates

Posted on April 27th, 2010 by admin

Following yesterdays move by the RBC, both CIBC and Desjardins have raised their mortgage rates. The 15 basis point move covers a range of maturities; fixed rates have been rising steadily over the last few months reflecting improving economic growth in Canada. The increase in interest rates as well as recent changes in mortgage rules has caused an increase in mortgage activity over the last month.

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Online Mortgages and Loans

Posted on April 22nd, 2010 by admin

Seems we turn to the internet for everything these days from health advice to weather and mortgages are no exception. Almost daily on TV I see multiple ads for mortgages and loans urging viewers to apply online. While there are many legitimate businesses online you should still be very guarded as to who you give personal information to, unfortunately some sites may collect your information and turn around and sell it. Not only will they sell it to one mortgage company but the next thing you know you will have 10 mortgage companies ringing your phone off the hook. There are a few things you can to avoid being taken advantage of online.

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Applying For A Second Mortgage

Posted on April 21st, 2010 by admin

Often homeowners apply for a second mortgage or home equity loan when they need to consolidate debt, want to do some home renovations/upgrades or need money to cover some other expenses they may have. The type of mortgage loan that they select usually depends on their needs but the approval process is similar. It’s important to consider the second mortgage terms, pre-payment penalties and options, as well as the interest rate and any related closing costs that they may have to incur.

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Tags: second mortgage

Bank of Canada Warns of Rate Hike

Posted on April 21st, 2010 by admin

Yesterday may have marked the end of the Bank of Canada’s low interest rate for economic growth policy as governor Mark Carney indicated a rate hike might happen in the very near future. The policy change comes as growth in the GDP has been revised upward to 3.7% from 2.9%. Indicating that Canada’s economy maybe recovering much faster than anticipated. The news sent the Canadian dollar up over parity with the US dollar a level at which it seems to have hit some resistance over the past few weeks.

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Ontario Mortgage Loan-Buying A Home in Ontario

Posted on April 20th, 2010 by admin

Maybe you are a first time home buyer in Ontario or you might be moving from another province or country, either way it’s very important to educate yourself on Ontario mortgage loan and real estate markets.

The market has been bullish recently thanks to low interest rates and demand surpassing supply. The average price in Toronto (GTA) was $434,696 for March, 2010. Though prices have appreciated over the last year they are still far below the Vancouver market. With income levels in Ontario not keeping up with the rising market many buyers are probably carrying increased debt loads. Whether you are a first time buyer or refinancing a home in Ontario there are provincial programs that might help you financially.

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Posted on April 20th, 2010 by admin

Welcome to the Ontario Mortgage Loan Blog. The site is for consumers, real estate and mortgage professionals or anyone who wants to keep up with the ever changing mortgage market. Thank you for visiting Please feel free to post questions, comments or concerns about the mortgage or real-estate market. scott@OntarioMortgageLoan.com 

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Tags: Ontario Mortgage Loan, Ontario Mortgage Loan Blog