The Long-Term Impact: This post can delve into the concept of mortgage amortization, explaining how the length of the amortization period can affect both monthly payments and the total interest paid over the life of the mortgage.

Canada's recent ban on foreign buyers has been a topic of much debate and analysis in terms of its impact on the housing market. This ban, effective from January 1, 2023, prohibits non-citizens and non-permanent residents from purchasing residential property in Canada until the beginning of 2025. The intention behind this legislation is to make housing more accessible to Canadians, in response to soaring house prices and concerns about housing affordability.

The Bank of Canada’s interest rate decisions are pivotal in shaping Canada’s economic landscape, directly influencing mortgage rates and the housing market. Understanding these impacts is crucial for homeowners, potential buyers, and investors.

In the mortgage world, terms like "insured," "insurable," and "uninsured" can significantly impact your mortgage rates and eligibility. Understanding these concepts is key to making an informed decision when choosing a mortgage.