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Investing vs. Mortgage Payments: Which Comes First?

Posted by Sherwood Mortgage Group on 9 October 2018
Investing vs. Mortgage Payments: Which Comes First?
Balancing mortgage payments alongside growing your investment portfolio is a difficult task.

According to The Globe and Mail's Benjamin Felix, the trick is to think about asset allocation and how mortgage interest reduces your overall returns from bonds.

To learn more, read the full article on theglobeandmail.com.
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Will the USMCA Trade Deal Help or Hinder Homebuyers?

Posted by Sherwood Mortgage Group on 8 October 2018
Will the USMCA Trade Deal Help or Hinder Homebuyers?
With NAFTA re-negotiations concluded next week, the re-vamped United-States-Mexico-Canada Agreement has lifted a grave shroud over the Canadian economy. However, according to The Globe and Mail's Rob Carrick, active home buyers have nothing to be thankful about. He says that the low-interest rate environment some have enjoyed since 2008 will swiftly be transformed by rising rates, and that young buyers should lock into a decent mortgage rate sooner rather than later. To lea...
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The Hidden Benefits of the Mortgage Stress Test

Posted by Sherwood Mortgage Group on 5 October 2018
The Hidden Benefits of the Mortgage Stress Test
Thinking about refinancing your mortgage? Before you contact registered mortgage professionals, bear in mind that new federal mortgage rules mandate a mandatory mortgage stress test. That means that before you can refinance your mortgage, you have to prove that you'll be able to manage monthly payments even if interest rates rise. This test rate is the higher of either the Bank of Canada's five-year benchmark, or your current rate increased by two per cent. However, Global&...
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Balancing a Mortgage with Retirement

Posted by Sherwood Mortgage Group on 4 October 2018
Balancing a Mortgage with Retirement
With people living longer and fewer employers offering defined benefit pension plans, balancing mortgage payments and retirement savings is a challenge hanging over the heads of many professionals. According to Forbes' Jack Guttentag, addressing it requires more than just stricter savings on the side of borrowers, but policy changes that privilege faster loan repayment, rather than just affordability, in order to avoid anyone continuing to pay off their mortgage into retirement. ...
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New Mortgage Guidelines to Help Self-Employed Individuals Secure Financing

Posted by Sherwood Mortgage Group on 3 October 2018
New Mortgage Guidelines to Help Self-Employed Individuals Secure Financing
According to The Globe and Mail's Solarina Ho, the Canada Mortgage and Housing Corporation is introducing new guidelines that make it easier for self-employed borrowers taking out a down payment below 20 per cent to be qualified based on additional factors and new forms of income documentation. CMHC says that 15 per cent of Canadians are considered to be self-employed, but bear in mind that number could rise because of the burgeoning gig economy. Read more about the new guideli...
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