Ok, your buying your home, you have applied for a mortgage and you have been pre-approved!
In Canada, a mortgage contract contains all the conditions that you follow while you have your mortgage. You are bound to this contract for the TERM of your mortgage, which in Canada is typically five years.
Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. “The average household renewing […]
An economist with Canada’s biggest bank says the country’s housing-market correction “is officially over.”
The Canadian housing market is teetering on the verge of favouring sellers despite the vast majority of local markets remaining balanced — for now.
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