By Rubina Ahmed-HaqMoneyville If you’re buying a house and are shopping for a mortgage this spring you may come across something called a collateral mortgage. This home financing tool has been around for a while, but mainly in the background. Now it’s going mainstream with both TD Bank and no-frills ING Direct abandoning the conventional […]

By Mark Weisleder | Sat Jul 30 2011 When you apply for a mortgage, you usually just ask about the term, amount, interest rate and monthly payment. Not many people understand the difference between a conventional mortgage and a collateral mortgage. Yet many banks are now asking borrowers to sign collateral mortgages — and it […]

The Canadian PressGlobe and Mail An interest rate hike of 2 per cent would leave four-in-10 Canadians unsure about whether they could afford their homes, according to a new study from the Bank of Montreal. The survey, compiled for BMO (BMO-T59.27-0.03-0.05%) by Leger Marketing and released Wednesday, found 43 per cent believe an interest hike […]

Garry Marr Mar 27, 2012 The logic is pretty simple. You hit rock bottom and there is no where else to go but up. Mortgage rates on terms of five years and 10 years have never been this low. You can go back 50 years and not find a rate of 2.99% from one of the […]

Postmedia News  Mar 22, 2012Financial Post OTTAWA — Finance Minister Jim Flaherty saw irony Thursday in major banks seeking changes to mortgage rules from government, given the control the banks themselves have over the industry. Flaherty said, however, the possibility of tightening the insured mortgage market — which has been done three times under the current […]

By Gail Johnson | Insight With the popularity of home-decorating shows like Trading Places soaring, suddenly everyone’s an interior designer. But from a real expert’s point of view, where are home-owners’ renovation dollars best spent? “Kitchens and bathrooms are the best place to start,” says Toronto’s Howie Track, owner of Traxel Construction, which specializes in high-end residential and […]

By Mark Weisleder A mortgage is usually the largest financial commitment a person will make. The interest is far more than any other debt, yet it is troubling that many of the details involved in mortgage applications are poorly explained — if at all — to those applying for the loan. Many people buying their […]

By Krista Franks Brock Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is […]

MARY GOODERHAM Globe and Mail Keeping up with mortgage payments is an important part of home ownership, in addition to property taxes, insurance and maintenance. But what happens if your roof suddenly needs replacing, the foundation springs a big leak or the furnace gives out in the middle of a cold snap? Your mortgage can […]

TAVIA GRANTGlobe and Mail Update Housing affordability is improving in Canada as home prices soften, while low interest rates through this year should continue to keep costs at bay. A national measure shows housing became more affordable in the fourth quarter of last year, the second improvement in a row, Royal Bank of Canada’s quarterly […]