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Strategies & Market Trends : Ride the Tiger with CD

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To: CashWhore who wrote (201892)	8/2/2011 1:31:51 PM
From: Cogito Ergo Sum	2 Recommendations Read Replies (1) of 312792

I had a CMHC insured mortgage on my first home approx 12.5% interest rate... at renewal 3 years hence I was no longer CMHC insured... made a point of reducing principle fast... seems lots of Canucks are as anal as I was (mortgage free on second home for quite a few years now) on paying home down fast... looks to me that we are better off for 'lack' of mortgage interest deductibility.. incentive for us to pay it off FAST... I am 'less' concerned about our housing market than some... • 22 per cent of mortgage borrowers increased their payments during the past year; 18 per cent made a lump sum payment; 9 per cent did both and 27 per cent who renewed increased their payments; • For mortgages repaid in the last 20 years, one third were paid off early; • For the first time, CAAMP has identified that Home Equity Lines of Credit (HELOC) represent 22 per cent of all mortgages, making these lines of credit a $215 billion industry; more at torontorealestatetrends.com

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