Lawrence Cuming Sells Calgary!

(NC) Just as life changes over time, the terms of a mortgage may need to change too.

“It's important for homeowners to review their mortgage regularly to make sure it's still the best fit with their current and future financial goals,” says Nupi Zubair, associate vice president of retail products at TD Canada Trust. “Depending on the situation or stage of life, a homeowner may want to reassess how quickly the mortgage is paid down or the frequency and size of their payments.”

Zubair offers some simple strategies for homeowners who want to reduce the cost of their mortgage and pay it off faster:

1. Increase mortgage payments. This can significantly reduce interest costs as well as help you pay down a mortgage faster.

2. Choose weekly or bi-weekly rapid payment options. Like increased payments, more frequent payments also reduce interest costs and help pay off a mortgage faster.

3. Make lump sum payments. Consider putting any extra cash, such as a tax refund, towards a mortgage. Just keep in mind what your prepayment privilege amounts are.

4. Explore flexible options. If caught between wanting to pay off a mortgage as quickly as possible and worrying about cash flow, take advantage of options which allow you to pay more when possible and ease off in months when other expenses prevent large payments.

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Condominium sector boosts Calgary resale housing activity Citywide year-over-year sales growth reaches double digits Calgary, October 1, 2014 – Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year.

“September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand. For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame.

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Lawrence Cuming

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