Financial Consumer Agency of Canada
www.fcac-acfc.gc.ca
Common menu bar links
Press Releases & Speeches: Press Releases
6/15/2010
Mortgages: FCAC publishes four new tip sheets
FCAC helps Canadian consumers evaluate mortgages
OTTAWA, June 15, 2010 - How do you plan a housing budget? What impact does the amortization period have on a mortgage? What are variable interest rate mortgages? What is real estate fraud and how can you avoid it? To help Canadians better understand the many components of the complex financial products called mortgages, the Financial Consumer Agency of Canada (FCAC) has released four new tip sheets:
Buying and
Maintaining a Home: Planning Your Housing Budget
Choosing an
Amortization Period: What is the Impact on Your Mortgage?
Understanding
Variable Interest Rate Mortgages
Protect Yourself
from Real Estate Fraud
Preparing to purchase a new home is not easy. The mortgage market is not only complicated, it's constantly evolving. To provide consumers with the information they need to make informed decisions, FCAC ensures that its publications on mortgages remain accurate and up to date.
“FCAC's new publications aim to help Canadian consumers make informed decisions when looking to purchase new property. They provide objective, clear and easy-to-understand information,” explains FCAC Commissioner Ursula Menke. “Buying a home is very likely to be the most important investment you will make in your lifetime. That is why it is essential to fully understand all of the costs involved.”
To access FCAC's tip sheets, visit moneytools.ca.
About FCAC
With educational materials and interactive tools, FCAC provides objective information about financial products and services and informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. Through its financial literacy program, FCAC helps Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC also makes sure that federally regulated financial institutions respect the laws and agreements that protect consumers.
To reach us, call our Consumer Contact Centre toll-free at 1-866-461‑3222 (TTY: 613‑947-7771 or 1-866-914-6097), or visit our website at fcac.gc.ca.
- 30 -
Media relations:
Julie Hauser
Media Relations Officer
613-941-4168
julie.hauser@fcac.gc.ca
