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Charting the mortgage market past and future.

Charting the mortgage market: a 2023 recap and glimpse into 2024 As we ring in the new year, I want to wish you and your friends and family a Happy New Year, full of good health and prosperity. Now that we’ve officially turned the page on 2023, I’d like to take a moment to reflect […]

Your mortgage renewal and rising rates: what you should know.

Mortgage renewals is a topic that has garnered a fair bit of media attention recently. And for good reason. Those facing a mortgage renewal in the coming months or even in the next year are rightly concerned about the impact higher rates will have on their monthly payments.  However, it’s important to remember that there […]

The Bank of Canada leaves rates unchanged

The Bank of Canada made a rate announcement today. The Bank of Canada has delivered a rate hold this morning, leaving its key lending rate unchanged at 5.00%. This is a welcome update for those with mortgages, loans and lines of credit that have variable rates tied to prime. This follows 10 previous rate increases, […]

Where should you obtain your mortgage?

One of the first big decisions prospective home buyers and owners face is how they plan to obtain their mortgage. Should they work with their bank, go direct-to-lender or choose a mortgage broker? As a mortgage professional, you can probably assume the option I would recommend. But below I would like to explain the reasons […]

The Bank of Canada hikes rates by 25 bps

The Bank of Canada raised its key lending rate this morning by 25 basis points this morning, bringing it to 4.75%. This is the Bank’s second rate hike of the year following two pauses in March and April. In its statement, the Bank said today’s decision reflects its view that “monetary policy was not sufficiently […]

The Bank of Canada leaves rates unchanged

The Bank of Canada delivered a rate pause this morning, leaving its key lending rate unchanged at 4.50%. This is the Bank’s second pause following eight consecutive rate increases, which raised the overnight target rate by 425 bps since March 2022. In its statement, the Bank repeated that it “continues to assess whether monetary policy […]

Planning for your future?

Planning for your future is important when you make one of your most important purchases of your life.  But does your mortgage vanish when you pass away?  The short answer is no. It may seem like a morbid thought, but the fact is, for most people, their mortgage is the largest debt they’ll carry in […]

The Bank of Canada delivered its eighth consecutive rate hike.

The Bank of Canada delivered its eighth consecutive rate hike on Wednesday, January 25, but said it would likely now pause to assess the impacts of its rate hikes to date. As expected, the Bank of Canada raised its overnight target rate by 0.25% to 4.50%. That’s 425 basis points higher than it was this […]

Canada’s new foreign home buyer ban

The start of the new year saw Canada’s new foreign buyer ban officially come into effect. The two year-ban was originally passed by Parliament in June to help address housing affordability challenges. It will apply to non-Canadian individuals and commercial enterprises. However, the Prohibition on the Purchase of Residential Property by Non-Canadians Act includes a long list […]

Its not just about the interest rate!

Its not just about the interest rate!  A common mistake some mortgage shoppers make is focusing entirely on getting the lowest rate. Don’t get me wrong, a low rate is important, of course, and that’s my goal too. But there are also other considerations to keep top of mind when looking at a mortgage product: […]

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