Stay in your lane: Unusual driving laws in Canada

What are the penalties for breaking a variable mortgage versus a fixed one?

Three months worth of interest payments or an interest rate differential fee? You should do the math.

Co-owning a house or vehicle: what to consider

 

Many people aim to own a home or car. But it can be a challenging goal to achieve. 

 

Want to switch lenders at renewal? Here's what you need to know

Want to switch lenders at renewal? Here's what you need to know

The mortgage conditions you require may have changed since you first started your term, or you may need a more affordable rate. Before you transition to a new lender, there are a few key things to keep in mind that can help guide your decision.

There are several reasons a homeowner might choose to explore other lending options before renewing their mortgage. The conditions you require may have changed since you first started your term, or you may need a more affordable rate than what your current lender can offer. 

About the author

Michelle Bates

Michelle Bates is an editor/writer in the personal finance space. Her work has also been featured in Cottage Life magazine and on CottageLife.com. In her spare time, Michelle enjoys thrifting home decor, attending live shows, and playing with her Yorkie/Shih Tzu, Freddie, at the park.

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March 7, 2023

3 ways to make your mortgage more affordable at renewal

For those approaching their mortgage renewals, the current interest rate environment is much different than it was five ... Read more

January 26, 2023

How to get a better rate when you renew your mortgage

Before accepting your current mortgage lender's offer to renew your loan, shop around. You might be able to negotiate a ... Read more

September 22, 2022

Your mortgage is up for renewal, but you’ve just lost your job. What now?

As a homeowner, losing your source of income is doubly stressful. And if your mortgage is up for renewal, you may not kn... Read more

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Driving with pets and car insurance: what you should know

Driving with pets and car insurance: what you should know

If your pet loves being close to you, think twice before letting them join you in the driver’s seat. You could face a hefty fine and demerit points, which may lead to an auto insurance increase.

This article has been updated from a previous version. 

It’s not unusual to see a dog’s head or nose sticking out of the rear window of a passing car — embracing the rush of fresh air and taking in the different scents. Some dog owners may even describe the car as one of their pet’s favourite places to be. 

About the author

Hayley Vesh

Hayley Vesh is an editor/writer in the personal finance space. Her work has also appeared in Global News. She is passionate about financial literacy and the pursuit of knowledge through lifelong learning.

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February 14, 2023

What kind of auto insurance do you need if you drive for Uber or Lyft?

While Lyft and Uber provide commercial insurance that covers you while you’re providing the service, you’re still re... Read more

January 12, 2023

How to switch car insurance providers

While it may seem daunting to switch car insurance providers, it is a great way to regain some control over rising rates... Read more

January 5, 2023

How expensive is it to insure one of Canada's top 10 most stolen vehicles?

Theft risk is one of many factors insurance providers consider when they set your premium. Find out how Canada's top 10 ... Read more

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Canadian First-time Homebuyers Guide 2023

Canadian First-time Homebuyers Guide 2023

Becoming a homeowner is one of the biggest decisions you’ll ever make, and we’re excited to help you through it. It might seem daunting but you’ll be a home ownership expert by the time you finish reading.

About the author

LowestRates.ca Staff

The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.

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February 23, 2023

Government of Canada programs to support homebuyers in 2023

In a high-interest market, prospective buyers can use all the help they can get. Luckily, the Government of Canada offer... Read more

November 16, 2022

Everything you need to know about bridge financing when it comes to buying a home

If you haven’t reached the closing date of your current home by the time you want to buy a new one, a bridge mortgage ... Read more

October 6, 2022

How much of a down payment do you need to buy a home in Canada in 2022?

Aside from the affordability barrier, saving for a down payment can be the single most challenging aspect of homebuying.... Read more

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3 ways to make your mortgage more affordable at renewal

3 ways to make your mortgage more affordable at renewal

For those approaching their mortgage renewals, the current interest rate environment is much different than it was five years ago. You’ll want to do all you can to make your mortgage payments more affordable when you renew.

About the author

Michelle Bates

Michelle Bates is an editor/writer in the personal finance space. Her work has also been featured in Cottage Life magazine and on CottageLife.com. In her spare time, Michelle enjoys thrifting home decor, attending live shows, and playing with her Yorkie/Shih Tzu, Freddie, at the park.

Read this next

March 14, 2023

Want to switch lenders at renewal? Here's what you need to know

The mortgage conditions you require may have changed since you first started your term, or you may need a more affordabl... Read more

January 26, 2023

How to get a better rate when you renew your mortgage

Before accepting your current mortgage lender's offer to renew your loan, shop around. You might be able to negotiate a ... Read more

September 22, 2022

Your mortgage is up for renewal, but you’ve just lost your job. What now?

As a homeowner, losing your source of income is doubly stressful. And if your mortgage is up for renewal, you may not kn... Read more

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Is refinancing your mortgage worth the interest hit right now?

Is refinancing your mortgage worth the interest hit right now?

Given the current state of interest rates, it’s fair to say it’s still difficult to gauge whether now is a good time to make any sudden mortgage moves. While higher interest rates continue to be a stressor for homeowners with variable-rate mortgages and those renewing fixed-rate mortgages, those contemplating refinancing are between a proverbial rock and a hard place.  

About the author

John Loeppky

John Loeppky is a disabled freelance writer and editor who currently lives on Treaty 6 territory in Saskatoon, Saskatchewan. His work has been published by the likes of CBC, FiveThirtyEight, Teen Vogue, Insider, and a host of others. His goal in life is to have an entertaining obituary to read.

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April 21, 2022

What you should know before refinancing your mortgage

Refinancing your mortgage can be a great way to lower your interest rate, consolidate and pay off debts, or even access ... Read more

February 10, 2021

What happens to the mortgage after a divorce?

When a marriage ends, there’s no shortage of things that spouses suddenly need to split in two: their finances, their ... Read more

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Are you being asked to pay for tenant insurance? Here’s what to do

What is a blended mortgage?

What is a blended mortgage?

As a homeowner, you might decide to refinance your mortgage for various reasons, but this often comes with some stiff fees. The good news is, there is a way to avoid these fees. Enter the blended mortgage.

This article has been updated from a previous version.  

As a homeowner, you might decide to refinance your mortgage for various reasons, but this often comes with some stiff fees.  

About the author

Caitlin McCormack

Caitlin McCormack is a writer based in Toronto. Her work has appeared in MSN, Food Network, HuffPost, What to Expect, Today's Parent, and Mashable, among others. When she isn't writing, she's busy chasing after her two sons, testing out new recipes, and working on her century-old fixer-upper.

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July 21, 2022

Everything you need to know about reverse mortgages

For older Canadian homeowners, a reverse mortgage can be the perfect way to generate tax-free funds without sacrificing ... Read more

April 7, 2022

What’s the difference between A lenders, B lenders and private mortgage lenders?

Looking outside traditional lenders to qualify for a mortgage? It’s important to understand what’s involved and any ... Read more

March 8, 2022

What is a reverse mortgage and how does it work in Canada?

Eligible Canadian seniors can borrow up to 55% of their home’s value using a reverse mortgage. But there's a lot to co... Read more

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