10 Questions Every Borrower Should Ask

General Rob Skoko 28 May

1. If I have mortgage default insurance do I also need mortgage life insurance? Yes. Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home should something tragic happen to you. Mortgage default insurance is something lenders require you […]

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10 Most Commonly Asked Mortgage Questions

General Rob Skoko 7 Nov

1. What’s the best rate I can get? Your      credit score plays a big part in the interest rate for which you will      qualify, as the riskier you appear as a borrower, the higher your rate      will be. Rate is definitely not the most important aspect of a mortgage,      however, as […]

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The Harper Government Takes Prudent Action to Support the Long-Term Stability of Canada’s Housing Market

General Rob Skoko 17 Jan

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership. “Canada’s well-regulated housing sector has been an important strength that […]

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Interest Rates

General Rob Skoko 19 Oct

*BoC Keeps Key Rate Unchanged The market widely predicted the Bank of Canada would not raise rates, and it was right. The BoC has left its key lending rate at 1.00%. In turn, prime rate will remain at 3.00%, making today’s BoC meeting a non-event for mortgage holders in the short-term. The BoC’s call comes […]

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Choosing Your Mortgage Amortization

General Rob Skoko 25 Aug

Selecting the length of your mortgage amortization period – the number of years it will take you to become mortgage free – is an important decision that will affect how much interest you pay over the life of your mortgage.   While the lending industry’s benchmark amortization period is 25 years, and this is the […]

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Department of Finance Announcement

General Rob Skoko 16 Feb

Canada’s Housing Market Remains Strong Canada’s housing market remains healthy and stable. According to the International Monetary Fund, our housing market is fully supported by sound economic factors, such as low interest rates, rising incomes and a growing population. Moreover, mortgage arrears—overdue mortgage payments—have also remained low. Today’s announcement is part of the Government’s policy […]

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Information on HST

General Rob Skoko 8 Feb

On July 23, 2009, British Columbia announced its plans to implement a Harmonized Sales Tax (“H.S.T.”) for B.C. effective July 1, 2010. The H.S.T. is a combination of the 7% Provincial Sales Tax (“P.S.T.”) with the 5% federal Goods and Services Tax (“G.S.T.”) for a single sales tax rate of 12%. For consumers, goods and […]

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