As many economists expected, the Bank of Canada announced today that it is increasing the overnight rate by .25% to a (total of 1.5%), the fourth increase since last summer, given strong economic improvements.
Many people think if they get a mortgage equal to the amount of money they are paying in rent, that’s all they need to become a homeowner. What they don’t realize is that there are hidden costs that come with homeownership that they may not have considered. If you are looking into buying your own home, there are a few things you should consider before jumping into the game.
Paying down your mortgage as early as possible is one of the best suggestions that financial advisers make to their clients. After all, throwing extra money at the biggest debt you may have can result in big interest savings and being mortgage-free years sooner.
When buying a home or renewing a mortgage, many people think they are obligated to sign up for their financial institution's mortgage life insurance. Don't rush into buying your bank's insurance policy until you've looked at all the possibilities. You could end up saving money and getting added life insurance coverage at the same time by purchasing a term life insurance policy instead.
Bathroom and kitchen fans are an integral part of your home's overall ventilation system. In addition to removing odours and improving your indoor air quality, fans can also help lower the level of humidity in your house, protecting your home from moisture damage and helping to prevent the growth of mould. But with so many models to choose from, how do you know where to begin?
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