April 15, 2024
In our last article, we showed how s. 8 of the Interest Act prevents lenders from imposing a penalty on borrowers who have defaulted on their mortgage. In this second part, we will dig into the case law surrounding this issue, and hopefully solidify once and for all that it is illegal for lenders to impose default penalties on the default of borrowers.
Opening up the Niagara Association of Realtors website, one of the things you are greeted with is a graph depicting market activity over the past year based on Median Sales Price. The current graph is surprising
Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free as well as how much interest you pay over the lifetime of your mortgage (a longer lifetime equals more interest, whereas a shorter lifetime equals less interest but also bigger payments).
Last newsletter we saw that the first month of the year started off a little stronger than where it had finished in December. A gain of $6,111 to be exact. Not a huge gain, but it at least reversed a six month slide in prices.
March 15, 2024
Anyone who has ever had a mortgage will know that there are lots of legal terms that apply. This is true especially when it comes to legal terms that relate to what happens if you fail to make payments.
March 15, 2024
In January, the Canadian bond market took quite a beating as interest rates rose roughly 30 basis points from their recent lows. The December housing data revealed a surge in sales, while inflation data showed just how difficult it may be to return to the 2% inflation target.
Speculators are gamblers. Plain and simple! Oh, they might disagree. They have a system they will tell you. They follow trends. They watch the market. And ten thousand gamblers at Vegas will say the same thing
