Canadians aim to pay mortgages sooner
Ottawa— The Canadian Press
Canadian homebuyers are showing “a high level of financial literacy,” according to a new Canada Mortgage and Housing Corp. survey that found both high levels of research and a determination to pay off mortgages quickly.
The survey, released Wednesday, said 75 per cent of respondents felt it “very ...
Posted by Todd Fryer
on June 28, 2011
Don't be afraid to leave your bank for a better rate
Are the banks doing an incredible job of retaining customers or are Canadians just too lazy to shop around when renewing their mortgages?
One finding of a survey by Canada Mortgage and Housing Corp. released this week was that 89% of consumers renewing their mortgage stay with the same financial institution. And 68% ...
Posted by Todd Fryer
on June 28, 2011
Fast-tracking your mortgage
When it comes to putting your mortgage on the fast track, a little can go a long way. Here are some strategies for saving on interest costs and shaving years off of your mortgage.
Increase your payment frequency- Opt for biweekly accelerated payments – take your current monthly payment and divide it in two, then set those payments for every two weeks. ...
Posted by John Siarkas
on June 24, 2011