Quotations by Angela Calla

Fixed interest rates are based on the bond market, and variable interest rates are based on the Bank of Canada. The fixed-rate mortgage interest rate is compounded every six months in Canada, but not in the United States. In the US, the major factor influencing rates is the movement of the ten-year Treasury bond. [2018] - Angela Calla

lenders who allow you to hold interest rates don't generally have the best terms, and the ones with best terms won't want to hold their money for something that may or may not happen. They're only willing to do it for people who are ready to go. [2018] - Angela Calla

Every time you do a credit check, it takes 5 points off your score. Carrying outside debt higher than 20% below the balance hurts your credit score. Carrying less than 2 or 3 active credit scenarios hurts your credit score. [2018] - Angela Calla

If you want the best money-saving mortgage, it often comes from a monoline lender. They offer the best exit and renewal terms. They get their business from one place only: mortgage brokers. Monoline lenders typically want prime properties or plum clients with a 700-plus credit score. If you can qualify for a monoline mortgage based on market fitness, your credit, income, and investment strategy, then you'll be better off. [2018] - Angela Calla

We always recommend you take the longest amortization possible, because the amortization doesn't actually dictate the duration of your mortgage payments; that duration is determined by how you set up your payments. If you have a long amortization, you can always revert back to the minimum payment. This helps you avoid accumulating outside debt, and you can qualify for something else if you need to. If you want to buy a rental, but you've just renewed your principal residence mortgage at 15 years, you won't qualify. But if you had your principal on a 30-year term, it would allow much more flexibility. [2018] - Angela Calla