TD announces special fixed rate mortgage if you want to lock-in

TD Canada Trust lowers seven and 10 year special fixed rate mortgage offers, effective March 11, 2011. “With talk of the possibility of interest rate increases in the future, more and more borrowers, especially first time homebuyers, are considering locking into a longer term mortgage at a fixed interest rate,” said Chris Wisniewski, Associate Vice…


Students push for interest-free Osap loans

The interest rates on student loans have become a major concern for Ontario school-goers following Newfoundland and Labrador’s move to eliminate interest charges on the provincial portion of student loans. It has been a primary demand of Ontarians for a long time, but now students have found a solid base to press the McGuinty government…


The pros and cons of hybrid mortgages

According to the RBC survey results, most of us still prefer a fixed-rate mortgage, where the rate of interest is fixed for a specific period of time. With this kind of mortgage, you lock in your mortgage interest rate to a specified rate for a term as long as 10 years. The benefits of a…


New rules cuff some mortgages to banks

A headlock would be the wrestling term to describe the hold Canadian banks will have on some consumers because of new, more strict mortgage rules. We are already seeing the impact of the changes that came into effect on April 19, but were put in place well in advance by Canadian financial institutions. Consumers are…