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Blog by Linda M Linfoot

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Understanding Your Credit Score

June 1st, 2010
Credit Score Secrets by Gail Vaz-Oxlade, for Yahoo! Canada FinanceThursday, May 27, 2010 Ever wonder how that magical number – The Credit Score – is computed?  Whether you’re obsessing over your FICO score or your Beacon score, you’re likely shopping for credit. The FICO score was developed by Fair Isaac & Co., which began credit scoring in the late 1950s. The point of the score is consolid ...
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Posted in Mortgage Information

Q & A On Government Changes

April 13th, 2010
Q & A Government Regulatory Changes   New Qualifying Rate Rule Changes for both Conventional and Insured (CMHC/Genworth) Mortgages:   Do the new qualifying rate rules apply to both conventional and insured mortgages? Yes. Similar to today, our policy will use the same qualifying rate rules for both conventional and insured mortgages     If I have a pre-approval prior to April 19th wil ...
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Posted in Mortgage Information

Bank Of Canada Interest Rates

April 13th, 2010
When will the Bank of Canada raise interest rates and by how much? Posted to FP: April 12, 2010, Jonathan Ratner With most agreeing that a rate hike from the Bank of Canada is imminent, the talk now turns to the exact timing and extent of the central bank’s policy changes. Governor Mark Carney made a “conditional” promise to keep the benchmark interest rate at 0.25% through the end of Jun ...
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Posted in Mortgage Information

Interest Rates

March 3rd, 2010
Economy improving, but interest rates to stay at historic lows for now By Julian Beltrame, The Canadian Press OTTAWA - The Bank of Canada is keeping interest rates at historic lows for a few more months, while sending out signals that the economy is rebounding strongly and could trigger inflationary pressures. The central bank's more positive take on the economy followed a Statistics Cana ...
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Mortgage Changes

February 17th, 2010
Government of Canada Takes Action to Strengthen Housing Financing Mortgage changes target ‘reckless’ buyers: Flaherty   The  question  most heard yesterday was, “what 5 year rate will they have to qualify on?”.  It will be the 5 year rate at that institution granting the commitment. As the client was having to qualify on that institutions 3 year rate, it will now be their 5 year rate. T ...
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Posted in Mortgage Information

Deciding on a Mortgage

February 3rd, 2010
Deciding on a mortgage  It is generally less expensive to continually roll over a short-term mortgage than to commit to a long-term one Eric Tyson and Tony Martin Published on Tuesday, Feb. 02, 2010 1:04PM EST Last updated on Tuesday, Feb. 02, 2010 1:06PM EST This is the sixth in a series of 10 excerpts from Investing for Canadians for Dummies. Whether to go for a short- or long-term ...
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Posted in Mortgage Information

Historical Rate Sheet 2009

January 13th, 2010
Historical Rate Sheet 2009Comparison of the "Fixed" rate vs the "Variable" rate....2009
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Posted in Mortgage Information

Pay Off Holiday Purchases!!

January 11th, 2010
Strategies to Pay Off Holiday Purchases   With holiday purchases – a lot of them put on plastic – soon coming due, many Canadians are sorting through bills and realizing that they have too much high-interest credit card debt.  This new year, consider taking charge of borrowing costs by paying off higher-interest consumer debt with funds secured through mortgage financing.    A common mor ...
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Posted in Mortgage Information

November 18th, 2009
Can’t decide between fixed or ARM? Want to keep partner equity separate? Want to pay interest only on your investment loan?   The 5 year HELOC might be the product for you!
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Posted in Mortgage Information

Variables in a Variable Rate

October 5th, 2009
There are a lot variables in a variable rate Garry Marr, Family Man, Financial Post  He has a landmark study on mortgages, but York University professor Moshe Milevsky says he never anticipated the credit markets of the last year. The 2001 paper examined the previous 50 years to determine whether consumers benefitted from locking into a fixed-rate mortgage or going with a variable-rate prod ...
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Posted in Mortgage Information

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