Falcon Financial
250 Consumers Rd, North York M2J 4V6 Toronto, ON, Canada

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Vancouver and Victoria's housing markets show strong evidence of imbalances: CMHC Posted on: 2017-05-08 British Columbia’s hottest housing markets, Greater Vancouver and Victoria, are showing early warning signs of imbalances, causing concern for the markets’ stability....Continue reading

Take Advantage of Low Interest Rates Refinance Your Mortgage Today! Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance at today's low interest rates. With interest rates this low, you owe it to yourself to at least give refinancing a look. If you can refinance your mortgage and get a rate at least half a percent lower than what y...ou are paying, chances are refinancing makes sense. Refinancing your mortgage to get a lower rate is one of the smartest things you can do. When you refinance your mortgage to a lower interest rate, you gain the instant benefit of a lower monthly payment, and those savings can really add up. Depending on the amount of your mortgage, even a small drop in interest rates could mean hundreds of extra dollars in your pocket every month. While those instant savings are certainly compelling, a lower mortgage payment is not the only advantage of refinancing your mortgage. When you take the long view, the value of a mortgage refinance becomes even more apparent. Every dollar you save now is one less dollar you have to pay the bank - and one more dollar you have to invest. Over the life of the mortgage loan, the combined interest savings and extra investment income could mean tens of thousands of dollars in your portfolio. Refinancing your mortgage at the current low interest rates is also a great way to pay for needed home repairs. If your home needs work but you lack the funds to pay for it, refinancing your mortgage could allow you to take money out and tap the equity you have built up through the years. And since interest rates on home equity loans are generally lower than other types of loans, you will pay less interest as you get your home back in shape. There are many compelling reasons to take advantage of the current low interest rate environment. These low interest rates have already lasted longer than usual, and they will not last forever. At one point interest rates will be going up, and when they do everything from home repairs to monthly mortgage payments could be costing you more. At the moment, interest rates are still at historic lows, and now is the time to act.

Open Mortgage A mortgage that can be repaid at any time during the term without any penalty. For this convenience, the interest rate is between 0.75-1.00% higher than a closed mortgage. A good option if you are planning to sell your property or pay-off the mortgage entirely. *some conditions may apply

Deposit A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (seller), the deposit is held in trust by the listing real estate broker, lawyer, or notary until the closing of the sale, at which point it is given to the vendor. If a house does not close because of the purchaser's failure to comply with the terms set out in the offer, the purchaser forgoes the deposit, and it is given to the vendor as compensation for the breaking of the contract (the offer).