Real People, Real Mortgages: Dilip & Geeta [Penalties and Fees]
Dilip and Geeta purchased their first home in 2012. They went to their Big 5 bank who had a 5 year fixed rate of 4.79%, but offered them a ‘discounted’ rate in the mid-3’s. This summer, they finally got fed up hearing how their friends were all paying closer to 2.0% on 5-year variables. They […]
From Bad Credit to Approved — A Real Success with Cannect
Embarking on the journey of homeownership is a profound chapter in one’s life, filled with dreams, decisions, and the pursuit of a place to call home. In this feature, we delve into the real-life narrative of Margot and George, a couple whose story echoes the experiences of many as they navigated the intricate world of […]
Renegotiate your mortgage now!
The events of the last week have presented a remarkable opportunity to get a better rate on your existing mortgage. Whether it’s renegotiating with your current lender or breaking your mortgage for a better rate, here are 6 things you should know before you do anything. Starting Point: Fixed vs Variable If you are currently […]
How to Evaluate the Costs of Renewing Your Mortgage
Looking to consolidate some of your debt? There are a few keys to ensuring that you get the best rate when renegotiating a mortgage. When you or someone you know is renegotiating a mortgage, you must be prepared. In order to keep your interest rate as low as possible, you should evaluate your credit risk […]
Good News!!!! Same Prime, Different Day
It’s that time again. When Mark Carney and his cohorts ascend Mount Olympus once more for the latest round of talks to decide the immediate future for Canadian mortgage holders. The prevailing feeling however is that little will result from this month’s scheming and plotting. Another meeting will pass with rates unchanged and the variable […]
How to Save on Your Mortgage Penalty with Cannect
Cannect has reintroduced our successful Mortgage Penalty Reduction Plan to assist Canadians in taking advantage of recent changes in mortgage rates. “We will be helping qualified Canadians save up to 25% on their mortgage prepayment penalties” said Cannect Home Finance President, Marcus Tzaferis. Almost every mortgage loan in Canada includes a “prepayment privilege” allowing the […]
TD, CIBC Raise Mortgage Rates—Should You Lock In Now?
Jim Flaherty’s announcement last month enforcing stricter mortgage regulations was a call to arms on Bay Street. The street, which plays host to Toronto’s financial almighty, would play scene to a duel more commonly associated with America’s Old West rather than Canada’s financial epicenter. The big banks of Canada waited anxiously, eyeballing their opponents, to […]
Investing in Tech: 5 Compelling Reasons to Choose Cannect MIC
The Cannect Mortgage Investment Corporation has an advantage. Our in-house technology allows us to underwrite loans more efficiently than our competitors. What does that mean for our business? It means that we can focus more on what we are good at: helping borrowers get to lower cost capital and earning a consistent return for our investors. Have […]
How Does the New NAFTA Affect Home Prices?
I will be using Trump book titles throughout this newsletter.) The USA has negotiated a new trade agreement with Canada and Mexico. It’s called the USMCA and for starters here are 5 points that we can take away from this agreement as Canadians. How will this affect Canadians, our economy, and your mortgage?Like this article? […]
The Bank of Canada: A Brief History
The Bank of Canada is the nation’s central bank. Established in 1935 through the Bank of Canada Act, the BoC’s main goal is to promote the economic and financial interests of Canada. Before the 1930’s there was no need for central banking due to Canada’s scattered and primarily rural economy. The branch bank network that […]
