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Your Mortgage Payment Includes Principal & Interest Charges

Your Mortgage Payment Includes Principal & Interest Charges

by Glenn Maclaren | Dec 25, 2020 | Blog, Economy, Finance, Homeownership, Mortgage

When discussing mortgage payments, most people focus on the interest rate. But, it’s also important to understand how the principal balance owing on your home comes into play with your monthly mortgage payment.   The ‘principal’ is the amount of money you...
Don’t Forget Monthly Carrying Costs When Buying a Home

Don’t Forget Monthly Carrying Costs When Buying a Home

by Glenn Maclaren | Dec 18, 2020 | Blog, Finance, Homeownership

Ensuring homeownership remains an affordable option stretches well beyond monthly mortgage payments. There are numerous recurring expenses known as ‘carrying costs’ that help you maintain your investment and, therefore, must be factored into your budget to avoid...
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

by Nick alafogiannis | Dec 9, 2020 | Announcements

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented...
How Do I Know How Much I Can Spend on a Home?

How Do I Know How Much I Can Spend on a Home?

by Glenn Maclaren | Dec 4, 2020 | Blog, Finance, Homeownership

Determining what you can comfortably afford to spend on a home is important to define well before you head out home shopping. Otherwise, you could waste time looking at homes that stretch you outside your financial comfort zone or, worse yet, are completely beyond...

Recent Posts

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  • Debt Consolidation Strategies
  • Enhanced Protection Introduced for New-Home Buyers in Ontario
  • Tips for Setting Your 2021 Budget
  • What are My Mortgage Rate Options?

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