All your friends are refinancing their mortgages. Should you?

By LowestRates.ca When the Bank of Canada cut interest rates three times in one month last year, LowestRates.ca saw an unprecedented increase in the number of Canadians using our mortgage quoter to refinance their homes.  Our data revealed a 389% increase in refinancing mortgage quotes on LowestRates.ca in March 2020 compared to February 2020, and a 156% increase in March 2020 compared to March 2019.

Why you should consider insurance when you move

Outgrowing a house is common, and quickly followed by the many to-do’s – home renovations, staging, and listing. You’re also shopping for your new home – narrowing your choices between the semi and fully detached, selecting what’s more important: the school or proximity to the grocery store, and it’s all on top of your everyday living. What a whirlwind! With that in mind, preventing a catastrophe, especially in these hectic and hassle-filled times, you must consider your insurance needs. Insurance protects you from the sudden and unexpected. If there is a time when you don’t want anything to go wrong, it’s at this critical juncture.

Home Values 101: How to value a home in Canada

The traditional home valuation process can be complex, but in the simplest terms, a home’s value is equivalent to how much a buyer would pay for the home in the current market. This value is based on various factors and will change over time. The property’s unique features, its location, and changes in the local and national economy can all impact a home’s value. Ultimately, the market is the arbiter of the selling price of a home.

Mortgages 101: Your guide to mortgage options when buying a home in Canada

Finding your dream home is challenging enough, but many home buyers will agree that the mortgage process is the bigger mountain to climb. Not only do you have multiple types of mortgages to explore, but each one comes with its own unique requirements, advantages, and disadvantages to consider. If you’re feeling confused or overwhelmed about your mortgage options in Canada, this mortgage guide is for you.

Guide To Mortgage Insurance For Sellers And Buyers

When it comes to buying or selling your home, you need to consider how mortgage insurance will impact the finances of the transaction. This article will explain how the two types of mortgage insurance are used, and offer a few tips on how to minimize the impact on your finances.

How Important Is Your Credit Score When Getting A Mortgage?

When applying for a mortgage, lenders consider several factors: your income, the size of your down payment, the property itself and last, but certainly not least, your credit score. It can be easy to overlook your credit score, since after all, we don’t learn about credit scores in school. However, that would be a big mistake! A good credit score can mean the difference between getting a mortgage at a low-interest rate and having to pay much more.