Ottawa Mortgage Blog

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Category: Mortgages (10 posts)

Reverse Mortgages – Impact on Heirs in Ottawa, Ontario

Reverse Mortgages – Impact on Heirs in Ottawa, Ontario

September 2, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

How do Reverse Mortgages Affect Canadian Heirs? For Canadian seniors, there is a great way to get the most out of the equity in their homes. Home prices tend to rise, and equity builds in the prope ...

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When Is Mortgage Refinancing a Bad Idea in Ottawa, Ontario?

When Is Mortgage Refinancing a Bad Idea in Ottawa, Ontario?

June 3, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

Property owners refinance their homes and commercial properties all the time. As your credit improves and you have built more equity into the property, it may make fiscal sense to refinance when inter ...

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Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve

Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve

June 3, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is &frac1 ...

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5 Smart Ways to Use a Home Equity Line of Credit

5 Smart Ways to Use a Home Equity Line of Credit

April 15, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always a ...

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What should you consider when refinancing your mortgage in Ottawa?

What should you consider when refinancing your mortgage in Ottawa?

April 1, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

Mortgage rates are at a historic low. If you're thinking about refinancing your mortgage, you could possibly save significant amounts of money over the years. Especially in the first years of owning y ...

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Bank of Canada lowers overnight rate target to 0.25 percent

Bank of Canada lowers overnight rate target to 0.25 percent

March 27, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. T ...

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Should You Pay Off Your Mortgage Early in Ottawa, Ontario?

Should You Pay Off Your Mortgage Early in Ottawa, Ontario?

February 18, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

It's a dream to be able to pay off your mortgage early, but is there a downside?  While it sounds like a great idea, there are some factors to consider before doing so.  This article will ex ...

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10 Essential Tips for Taking Out Your First Mortgage in Ottawa, Ontario

10 Essential Tips for Taking Out Your First Mortgage in Ottawa, Ontario

January 22, 2020 | Posted by: Jamie Small - Ottawa Mortgage Broker

Taking out your first mortgage presents a major financial commitment, possibly the biggest one you'll ever make, so it's crucial that you get the best deal available. Getting a mortgage is often not a ...

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Should You Spend the Full Mortgage Amount You're Approved For?

Should You Spend the Full Mortgage Amount You're Approved For?

December 16, 2019 | Posted by: Jamie Small - Ottawa Mortgage Broker

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

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Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

December 9, 2019 | Posted by: Jamie Small - Ottawa Mortgage Broker

Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ...

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