Competition = Low Mortgage Rates

Recognizing the Danger Signs

You may have a debt problem if:

• you are feeling stress and anxiety over money situations and finding it difficult to sleep at nights.
• your monthly bank statements are in the negative.
• you're only able to pay the interest and service charges on your credit cards.
• you are afraid to open your mail or answer unknown phone numbers.
• your services have been cut off such as hydro or telephone.
• you're always borrowing money from family and friends and then find yourself avoiding them because you cannot afford to re-pay them.
• creditors are pressuring you and threatening to sue.
• you have received notification in the mail from a collection agency.
• your wages have been garnisheed.

Canadian Mortgage Info Online

CanEquity.com has recently launched its Canadian Mortgage Statistics website providing a unique source for mortgage brokers and mortgage seekers to learn about Internet mortgage trends.

These statistics were compiled using over 20,000 surveys, plus data collected over a span of five years.

Over one thousand pages of cities and towns have been developed with data ranging from average loans to peak hours for mortgage inquires through a 24-hour day.

Some of the highlights you will find are:

• Average ages, martial and residential status for Internet mortgage inquires.
• Interactive flash interface allowing you to plot national and provincial mortgage originations, average incomes, and loan amounts.
• Data displaying year-to-year, month-to-month and day-to-day Internet volume comparisons with complete charts and graphs.
• Tables displaying provincial and national mortgage volume rankings of cities and towns throughout Canada.

These statistics are anonymous and contain no personal information, and cannot be used to gather such information; therefore this information may be used freely for educational or non-commercial use.

Check out the Market before House Shopping

Before you begin house shopping, check out the market and familiarize yourself with what is available.

Being pre-approved will tell you how much you can afford, so take a look at the real estate listings in the paper or through other real estate publications. By doing this, you will have a good idea of what is available in your price range and what you can expect to view when you start home shopping.

Also, taking a drive in a desirable neighborhood is a good idea as you could stumble upon an open house giving you a better idea of what you want in your new home.