Edmonton Real Estate Blog

(NC) The pandemic is causing many of us to re-evaluate our finances. If you are thinking of renegotiating your mortgage to take advantage of a lower interest rate, be aware that this could mean having to break your mortgage contract.

If you break your mortgage contract you may have to pay a fee, called a prepayment penalty.

Before breaking your mortgage, make sure the benefits outweigh the costs. Far too many homeowners who have broken their mortgage contracts have been shocked by penalties amounting to tens of thousands of dollars, or other fees required to complete the transaction.

Know the costs

Every mortgage contract contains different terms and conditions. Federally regulated financial institutions must provide you with key information in a box at the beginning of the mortgage agreement, including information about any penalties and fees that will apply if you break your mortgage contract.

As a consumer, you have the responsibility to read your mortgage agreement and understand the...

Read full post

(NC) Understanding how to manage your money and budget better is important for financial health, especially during uncertain economic conditions. Each person’s situation is unique and requires a personalized approach, but with education and confidence, financial planning can become a less arduous task.

According to the TD Financial Health Index, a national benchmarking survey providing a portrait of Canadians' financial well-being, women tend to have lower “financial health” than men – particularly among younger groups. Women received an average financial health score of 64 – lower than the average score for all Canadians. 

Regardless of financial management experience, taking small, thoughtful and actionable steps towards building your wealth management skills can help improve your financial profile in any circumstance.

Here are some resources to consider:

  1. Read, review and reevaluate. Empowering yourself with the right resources can better equip you to...
Read full post
Categories:   account | affordability | agents | air conditioning | amenities | andrew | Andrew, Andrew Real Estate | apartments | appliances | assessment | backsplash | backyard | balconies | balcony | bank | banking | Barrhead, Barrhead Real Estate | bathroom | bedroom | bills | borrowing | budget | build | building | buildings | bungalow | buyers | buying | cabinet | cabinets | Canada | Canadian | canadians | candles | clients | climate | cold | colour | comfort | communities | community | concrete | condo | condos | consumers | countertop | credit | curb appeal | debt | demographics | design | designer | diy | downtown | edmonton | Edmonton, Edmonton Real Estate | education | election | entertainment | expense | expenses | expert | families | family | fees | finances | financial | financing | fire | fireplace | flooding | floor | flooring | Fort Saskatchewan, Fort Saskatchewan Real Estate | furnishings | furniture | garden | Gibbons, Gibbons Real Estate | government | grass | greenspaces | gym | heloc | highrise | home | homeowner | homeowners | homes | house | household | houses | ideas | indoors | infrastructure | insulation | insurance | interest | interest rate | interior | investments | kitchen | lamps | lawn | lawns | lender | lifestyle | light | lighting | listing | living room | lrt | mail | makeover | market | marketing | minimalism | money | mortgage | movie | nature | neighbourhood | new | news | nights | offer | offers | office | oliver | Onoway, Onoway Real Estate | outdoors | paint | painting | patio | pillow | plumbing | pool | portfolio | price | professional | project | projects | property | purchase | quality | red cross | remodelling | renovate | renovation | renovations | repair | resale | reserve | river valley | roof | room | rooms | Rural Leduc County, Rural Leduc County Real Estate | Rural Sturgeon County, Rural Sturgeon County Real Estate | safety | sale | search | season | sell | sellers | services | sewer | shades | shopping | shops | sink | sold | space | spending | Spruce Grove, Spruce Grove Real Estate | St. Albert, St. Albert Real Estate | statements | Stony Plain, Stony Plain Real Estate | style | suite | summer | theatre | theft | tile | tips | transportation | trends | tub | vacations | value | vote | wallpaper | warm | warmth | water | wealth | weather | weeds | window | winter | winters | work | world | Zone 07, Edmonton Real Estate | Zone 09, Edmonton Real Estate | Zone 10, Edmonton Real Estate | Zone 12, Edmonton Real Estate | Zone 14, Edmonton Real Estate | Zone 15, Edmonton Real Estate | Zone 16, Edmonton Real Estate | Zone 20, Edmonton Real Estate | Zone 27, Edmonton Real Estate | Zone 28, Edmonton Real Estate | Zone 29, Edmonton Real Estate | Zone 30, Edmonton Real Estate | Zone 55, Edmonton Real Estate | Zone 58, Edmonton Real Estate
Copyright 2021 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.