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Canadians Aim to Pay Mortgages Sooner

  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 ...

Don't be afraid to leave your bank for a better rate

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% ...

Fast-tracking Your Mortgage

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. ...
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