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What is a Mortgage? When considering purchasing a home, you’ll likely come across the term ‘mortgage.’ Understanding what a mortgage is and how it works is crucial, especially if you plan to finance your home purchase. This in-depth guide will help you grasp the key concepts behind mortgages and how they can impact your financial…

‘We have to be better at explaining to the client the time is now,’ said CEO Tristan Kirk (pictured), CEO and managing partner of Citadel Mortgages in Canada and Simply Approved Mortgages in the US, is acutely aware of the changes shaping the mortgage industry in North America. And, when asked about the recent growth…

Focus turns to how new Trump administration will tackle housing crisis The dust has settled on a momentous 2024 US presidential election campaign that dominated headlines for months and put two sharply contrasting plans for America’s future in the spotlight – and as a second Donald Trump presidency looms into view, attention in the mortgage…

If you’re a homeowner with a mortgage, you’ve likely come across something called mortgage insurance. Mortgage insurance, also known as private mortgage insurance (PMI) for conventional loans or mortgage insurance premium (MIP) for FHA loans, is a requirement when you don’t have a sufficiently large down payment. It’s an additional cost that can add up…

Mortgage rates expected to stabilize as job growth supports market rebound. After a tough period for home sales, the National Association of Realtors (NAR) has forecasted that the housing market will stabilize in the coming years, with a projected increase in home sales for 2025 and 2026 as mortgage rates level out around 6%.  With…

The central bank cut interest rates at its meeting yesterday in response to cooling inflation, but the real action came at the press conference after the meeting. Federal Reserve Chair Jerome Powell has been under pressure before, but the events of this week might have him sweating through his crisp collared shirts. The central bank…

The Federal Reserve on Thursday is expected to announce its next policy move on interest rates in the wake of the election and after an influx of economic data. Policymakers on the Federal Open Market Committee (FOMC) are expected to announce a 25 basis point cut, lowering the benchmark federal funds rate to a range of 4.5%…

Rising costs made housing a priority in national and local races. Housing affordability was a major factor for many early voters in the 2024 US presidential election, with 38% saying it influenced their choice, according to a recent Redfin survey. The survey, conducted by Ipsos at the end of October, highlighted the role of rising…

The rules have changed over the years when a family member is employed by a family business. Knowing which product to choose to make the application flow without issues is key as all agencies do not have the same requirements. Here are the guides for each agency. On conventional loans this applies to borrowers employed…