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Mortgage Bytes

  • The Globe & Mail ran this great story about the benefits and costs of renewing your mortgage.  As you may know, banks typically ding you with $150-$300 discharge fees at the end of your mortgage.  The Globe says:  "Never pay these fees or discharge expenses without politely but forcefully asking for them to be waived or drastically reduced…and…Don’t wait for your bank to mail you a mortgage renewal notice to start thinking about switching lenders."
  • The Canadian Capitalist found a good review of the pros and cons of paying down your mortgage versus investing in your RRSP–written by Canadian Dream: Free at 45
  • Million Dollar Journey writes about a new high-leverage twist to the Smith Maneuver