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Tag Archive: mortgage prepayments

Prepayment Envy

—The Mortgage Report: Sept. 28— Ever wonder who’s got the most generous prepayment privileges in Canada on a closed mortgage? So did we, so we just looked in our database of 3,000+ rates to find out. It turns out that credit unions rule the roost when it comes to annual lump-sum prepayment allowances. The leaders: 30% per year: Casera Credit...

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Invest or Prepay Your Mortgage?

—The Mortgage Report: July 9— Play Stocks or Play it Safe?: That’s a common question for otherwise debt-free mortgagors with nothing else to do with their money. It’s not a question we can answer for everyone, given all the personal variables to consider. But here’s an interesting look at what might have happened had you got a standard mortgage 10...

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Competitors Attack Banks on Mortgage Penalties

If there’s one thing the major banks wish would go away, it’s talk about their fixed-rate mortgage penalties. Competitors constantly use accounts of huge bank penalties to sell against the banks, and the media picks up on it. Expect more of this as mortgage penalties approach record highs. In the last few months, we’ve seen non-bank lenders increasingly market their...

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