With the Canadian resale housing market booming, and indications that the Bank of Canada will increase interest rates on June 1st, there's been a lot of attention lately regarding the various options available for mortgage loans.Whether you're applying for a new mortgage, or thinking about refinancing before the predicted rate increases hit, it's important that you know your options so you can ...

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Canadian homeowners know that paying off your mortgage is the key to achieving financial freedom. Knowing that, it's surprising how many homeowners shy away from closed mortgages and opt to pay a higher interest rate to get the payment flexibility offered by an open mortgage. While it may sound reasonable in terms of making additional payments, the reality is that this strategy can end up costing ...

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Here are explanations of some of the most common terms used in credit - not necessarily legally precise but they'll give you an idea of what the various credit terms mean.

Amortization - The period over which the principal and interest on installment or mortgage loans are repaid.

Appraisal - The process whereby the value of a property is determined for lending purposes (usually for ...

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