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Category: Financing (19 posts)

2021 Mortgage Stress Test - Latest Updates

2021 Mortgage Stress Test - Latest Updates

April 21, 2021 | Posted by: Mortgage InGenuity

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ... [read more]

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21, 2021 | Posted by: Mortgage InGenuity

Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ... [read more]

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 12, 2021 | Posted by: Mortgage InGenuity

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ... [read more]

Multi-Family Lending: What You Need To Know About Hard Money Loans

Multi-Family Lending: What You Need To Know About Hard Money Loans

March 8, 2021 | Posted by: Mortgage InGenuity

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ... [read more]

How Good vs Bad Debt Impacts Your Household

How Good vs Bad Debt Impacts Your Household

January 27, 2021 | Posted by: Mortgage InGenuity

In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ... [read more]

3 Tips on How to Better Your Credit Score

3 Tips on How to Better Your Credit Score

December 9, 2020 | Posted by: Mortgage InGenuity

Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ... [read more]

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

July 24, 2019 | Posted by: Mortgage InGenuity

It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ... [read more]

3 Simple Ways to Repair Your Credit

3 Simple Ways to Repair Your Credit

July 10, 2019 | Posted by: Mortgage InGenuity

For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ... [read more]

3 Smart Ways to Use a Home Equity Line of Credit

3 Smart Ways to Use a Home Equity Line of Credit

March 13, 2019 | Posted by: Mortgage InGenuity

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 ... [read more]

How to Improve Your Chances of Being Approved for a Mortgage

How to Improve Your Chances of Being Approved for a Mortgage

December 24, 2018 | Posted by: Mortgage InGenuity

For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ... [read more]

Real Estate: How to Refinance a Mortgage with a Bad Credit Score

Real Estate: How to Refinance a Mortgage with a Bad Credit Score

July 11, 2018 | Posted by: Mortgage InGenuity

There are many excellent reasons a homeowner may look into refinancing their mortgage. To refinance means to replace your current mortgage with a new one, almost always with a lower interest rate. For ... [read more]

Planning to Refinance Your Mortgage? Ask These 4 Questions First

Planning to Refinance Your Mortgage? Ask These 4 Questions First

April 11, 2018 | Posted by: Mortgage InGenuity

Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ... [read more]

Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home

Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home

March 14, 2017 | Posted by: Mortgage InGenuity

Your home is probably the most significant purchase you'll ever make, yet it's surprising how many people simply continue paying their mortgage every month without thinking too much about it. However, ... [read more]

Saving For College: Four Tips For Parents

Saving For College: Four Tips For Parents

November 23, 2016 | Posted by: Mortgage InGenuity

One of the prime concerns of parents, especially parents of teenagers, is how their children will be able to afford college tuition. With prices going up each year at even state and community colleges ... [read more]

Is Having No Credit As Risky As Having Bad Credit?

Is Having No Credit As Risky As Having Bad Credit?

October 12, 2016 | Posted by: Mortgage InGenuity

Let's clear up one misconception, right off the bat: having no credit is not the same as having bad credit. 'No credit' simply means that your credit history - which tracks your loans and repayments o ... [read more]

Why Should I Repair My Credit?

Why Should I Repair My Credit?

September 14, 2016 | Posted by: Mortgage InGenuity

Your credit history is more than just a number; it affects nearly every aspect of your financial life. If you are suffering from a low credit score, you're probably an excellent candidate for credit r ... [read more]

How to Manage Your Credit Card Debt: A 4-Step Strategy

How to Manage Your Credit Card Debt: A 4-Step Strategy

July 13, 2016 | Posted by: Mortgage InGenuity

Being in debt is undoubtedly stressful, more so when the interest rates keep pushing your overall debt to skyrocketing amounts. Many people fall into the temptations of unnecessary expenditures and en ... [read more]

Strategies to Dig Yourself Out of the Debt Hole

Strategies to Dig Yourself Out of the Debt Hole

June 13, 2016 | Posted by: Mortgage InGenuity

Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ... [read more]

Why You Need an Emergency Fund And How to Get One

Why You Need an Emergency Fund And How to Get One

June 6, 2016 | Posted by: Mortgage InGenuity

Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ... [read more]

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