23 Jul

Ruby the Mortgage Mutt

General

Posted by: Mark Unwin

In case you are not yet added to my data base, here is Ruby’s first mortgage video. https://youtu.be/VlKQI2HrnSs Ruby will be emailing weekly, so email me if you want to be added to the list.

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2 Sep

Interest Rate Differential

General

Posted by: Mark Unwin

Interest Rate Differential (IRD) The IRD is a compensation charge that may apply if you pay off your mortgage prior to the maturity date, or pay the mortgage principal down beyond the amount of your prepayment privileges. The IRD is based on: The amount you are pre-paying; and, An interest rate that equals the difference […]

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17 Aug

Stress Test 4.79

General

Posted by: Mark Unwin

National Bank of Canada cut its posted 5-year fixed rate by 15 bps on Monday, following similar cuts by BMO and CIBC over the weekend, while RBC and TD lowered their rates last week. In May, similar big-bank posted rate reductions caused the qualifying rate to fall from its then-current level of 5.04%, since the […]

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12 Aug

Benchmark Rate Drop

General

Posted by: Mark Unwin

The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates. Mortgage experts say the Bank of Canada will reduce the benchmark qualifying rate—a.k.a., “stress test rate”—from 4.94% to 4.79% this week. National Bank of Canada cut its […]

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