Tal Sivak Life Investment

How Many Credit Inquiries Is Too Many? When you apply for a loan or bank card, the lender will request a copy of your credit report to evaluate your risk. By applying for the loan in the first place, you are authorizing the lender to receive a copy of your credit report from one of the three major credit bureaus. Each time this happens, it is known as a credit inquiry and can affect your credit score....Continue reading

Choosing a Personal Reference for an Apartment Rental Application Filling out a rental application can feel daunting. Gathering personal information and proof of income is a time-consuming part of it, but then you also have to choose your rental reference. Rental references, or referrals, are votes of confidence from people who know you in a personal, financial, educational, professional, or prior rental experience setting. Having a few qualified people who can vouch for you ...Continue reading

Don't miss it... The Ontario Standardized Lease Agreement 2020 Once you’ve successfully found new tenants, it’s time to get them to sign a lease. However, since 2018, a 13-page simplified lease came into effect in Ontario, and it will be mandatory for most residential landlords and property management companies to start using the new standardized lease. The lease was released in English or French, accompanied by a guidebook in 21 different languages. Below is some helpful in...Continue reading

Good news : Q2 Lender Earnings: Mortgage Deferral Situation Easing ... Despite Canada Mortgage and Housing Corporation CEO Evan Siddall warning of a mortgage deferral cliff, and a sharp rise in mortgage defaults this fall, data from the country’s key mortgage lenders appear to be telling a different story. That cliff is looking more like a slope, according to Equitable Bank President and CEO Andrew Moor, who reported a decline in mortgage deferrals from 20% of the bank’s portfolio to just 6% as of mid-July. Our general feeling is that many of our customers called looking for a deferral just out of an abundance of caution in an uncertain economic scenario, Moor said during the bank’s Q2 earnings call. It was a similar story across Canada’s non-Big-Six bank mortgage lenders. Both Home Capital and First National have seen their mortgages in deferral fall to a third of their peak levels, and both expect more mortgage clients to get back to their regular payment schedules in the coming months. One of Canada’s two private mortgage default insurers reported a similar scenario, with an optimistic outlook for the remainder of the year. Provided the current economic trends continue, we expect the level of reported mortgage deferrals to decline over the second half of the year, said Genworth Canada President and CEO Stuart Levings. Source : Mortgage Trends

Worth to read!!! Stress Test Rate to Fall to 4.79% The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates....Continue reading

Good to know... fixed or variable rate mortgage? ...Continue reading

Interesting... 5 Simple Steps To Determine If You Should Refinance When Mortgage Rates Are Low. With COVID-19 creating havoc and uncertainty within our economy, mortgage rates are hitting historic lows. According to Freddie Mac, the national average rate dropped earlier this month to an all-time low 2.98%. In fact, Mortgage News Daily reported that the average reached a seemingly impossible 2.87% on Thursday....Continue reading