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Mortgages push household debt to new levels?

While the uptick in mortgages is good news for the industry, the levels of debt could be a future concern once mortgage rates climb upwards. The latest bank data shows that total Canadian outstanding household credit rose to $1.869 trillion in August, up an annualized pace of 5.9% from July. Compared to the previous year,…
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The Pitfalls of Rent-to-Own Contracts

There is NO guarantee that you will qualify for a mortgage at the end of your term; hence you may lose your deposit! You are buying a home based on an estimated future value, so you could be paying an over-inflated price.  What happens if your house de-values over the term of your R20 contract?…
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The Pitfalls of Rent-to-Own Contracts

There is NO guarantee that you will qualify for a mortgage at the end of your term; hence you may lose your deposit! You are buying a home based on an estimated future value, so you could be paying an over-inflated price. What happens if your house de-values over the term of your R20 contract?…
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Don’t jump the gun locking into a fixed-rate mortgage.

With mortgage rates likely about as low as they can go, it may seem like  a sure bet to lock into a fixed rate.  But as a homeowner you should  focus less on rates and more on the bigger issues of affordability, eligibility and most importantly, maintaining good credit. A fixed mortgage is locked in for…
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