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Smart Ways to Enjoy a Financial Windfall

Posted onJuly 27/2020By

Imagine a scenario where your significant other’s aunt has died and left your family with an inheritance of $200,000. Once the papers have been signed and the proper condolences have been passed, you are left with a substantial amount of money in your bank account. At this point, you may be thinking about mortgage rates and how you can use the money to help lower your mortgage rates or get a better package by placing a substantial down payment on a second home. In any event, below are some smart ways that you can enjoy a financial windfall. Take a…

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What the Future of Real Estate Mortgage Looks Like

Posted onApril 07/2020By

The housing market in 2019 was dominated by limited supply, high demand, and low rates, primarily in the lower-priced end of the industry. As for 2020 and beyond, some experts predict more of the same, while others have predicted some marked changes that will take the real estate market by storm. Here, we will discuss some of the trends to look for in 2020 regarding the real estate mortgage industry and the real estate market at large. Mortgage Rates Will Either Remain the Same or Go Down Slightly While mortgage rates will fluctuate depending on where you live, Freddie Mac’s most recent numbers had real estate mortgage rates sitting at roughly 3.75%, which is nearly a 1% difference from what the monthly average was a year ago. As such, the drop in rates caused an upswing in refinancing over the last three months, as purchasing activity also enjoyed a surge…

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Latest Trends in Real Estate Mortgage

Posted onNovember 25/2019By

For the last couple of years, Canada’s housing market has experienced gradual disinflation, despite the implementation of policy interventions looking to cease the deterioration in affordability in Toronto and Vancouver. Overall, affordability at the national level has yet to improve. But this is not surprising considering the significant increases in the average mortgage rate over the past two years, which has made it difficult for any reforms to trigger improvement in affordability. If you’re considering buying a home or investing in property, then you should first check out the housing and real estate trends for the year and beyond, especially concerning home types, real estate mortgage rates, and whether this is still an excellent year to buy your dream home. Affordability Relief The falling home prices across the country are probably due to the government’s efforts to aid the Toronto and Vancouver markets, though government decisions made federally affects the…

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A Guide to Real Estate Mortgages

Posted onNovember 18/2019By

Many people struggle with the decision to buy or lease a home. It’s important to know if you want to own a home before getting yourself entrenched in the process of a real estate mortgage. But once you determine that you’re ready for homeownership, the next step is to choose a home you can afford. With each mortgage payment, you will be building equity in your own place. It’s essential to consult a mortgage professional to help you determine how much mortgage you can carry comfortably. This will help you evaluate your financial position and set achievable goals concerning the repayment timeline. Whether you’re a first-time homebuyer or you want to ensure that you’re ready for your next property purchase, here’s a simple guide for the real estate mortgage process: How much debt can you afford? A mortgage has four components that affect the affordability of a property and the…

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