Saving to buy a home is so much more than putting together a down payment. Down payments receive all the attention as you save to buy a property. If you take some time to plan for other expenses related to closing on your property, you won’t be surprised by the actual amount you should have […]
Author: langfinancial
Protect your new family for life
There may be no greater life event than having a child. As a parent, it’s only natural that you feel a great sense of responsibility along with incredible joy and love for this little person who is going to become such a big part of your life. Parents need protection Life insurance should be considered […]
Brief Update on Current Market Volatility
We want to take a moment to update you on our thoughts related to the coronavirus and its impact on the financial markets, and, ultimately, on your personal financial situation. Going into this New Year, many stock markets around the world were trading near all-time highs including major indexes in the US, Canada, UK, and […]
CHIP Reverse Mortgage
Wouldn’t it be nice if you had the money to do more of the things you want to do? A CHIP Reverse Mortgage could be just what you need. It’s the simple and sensible way to unlock the value in your home and turn it into cash to help you enjoy life on your terms. […]
Anatomy of mortgage changes
There is little doubt that housing sales have slowed down in the past year, due in large part to stricter mortgage regulations. Part of those regulations is a mortgage stress test that requires borrowers to qualify for an interest rate that’s at least 200 basis points higher than the contracted rate. Those in favour of […]
Canada’s Federal Budget
First Time Home Buyers were given a boost today. Here are the highlights: New program: First-Time Home Buyer Incentive A fund administered by Canada Mortgage and Housing Corp. (CMHC) will provide 5 % of the cost of an existing home and 10% of a new home through what amounts to an interest-free loan to be […]
Paying Off Your Mortgage
Your Road to Mortgage Freedom Do you dream about paying off your mortgage? The new year is usually a time when people review their finances and, if they are in debt, create a plan to reduce that debt. With interest rates rising in Canada, the perennial question resurfaces: Should you pay off your mortgage early? […]
7 and 10 year Mortgage Rate?
When we look to see/predict where the 5 year mortgage rates are heading, we use the 5 year Canada bond yield. One year ago the rate was 2.14% and in October of 2018 it rose to 2.45%. Today the yield is at 1.79%. Looking out to the 10 year bond yield today we have 1.89% […]
BOC Decision
Bank of Canada Remains on Hold, Revising Down Oil Market Outlook The Bank of Canada left the overnight benchmark policy rate at 1-¾%, as expected. In another dovish statement, the Bank of Canada acknowledged a slowdown in global economic activity and highlighted that oil prices are roughly 25% lower than what they had assumed in the […]
What is the difference between an “Adjustable Rate” mortgage and a “Variable Rate” Mortgage?
ARM (Adjustable Rate Mortgage: ·Payments automatically change and go up/down with the Prime Rate to ensure you maintain the original amortization schedule of the mortgage ·Lender sends out a monthly reminder when payments change ·8 Bank of Canada rate announcements per year VRM (Variable Rate Mortgage): ·Payments remain fixed for the duration of the term […]