If you have a fixed rate mortgage, you may be able to get a better interest rate or even acquire additional funding by breaking your mortgage. Unfortunately, you will have to go through your disgruntled lender and the subsequent prepayment penalty. The penalty protects lenders against losses and usually represents the profit the lender was… Continue reading Mortgage Penalties Unmasked
Over the last decade house prices in Canada have doubled and the market continues to grow. The demand for property is illustrated by the fact that there are 173 sky scrapers being built in Toronto, the highest number in North America. New York, with nearly four times the population, has only 96 under construction, while… Continue reading Changes In The Canadian Mortgage Industry?