On the other hand, a 30-year fixed rate could also result in a slight disadvantage for 30-year fixed-rate mortgage borrowers. The overall interest rate on a 30-year fixed-rate mortgage is much higher because of the longer amortization period. Additionally, because 30-year fixed-rate mortgage payments typically pay interest at the beginning of the loan term rather … Read more
A Fixed and reverse loan is a short-term financing option designed specifically for real estate investors who are purchasing properties in need of renovation, repair or remodeling, with the intention of selling them for a profit. These loans provide the capital needed to acquire the property and finance necessary improvements. Key Features of Fixed and … Read more
Drummond, a former TD economist who advised Canadian prime ministers, believes the ultra-low rates of the last decade were an aberration. “Many people, for many years, have said that rock-bottom interest rates are the new normal. I never believed that,” he said at the Mortgage Professionals of Canada national conference last month. “Obviously it was … Read more