What does Donald Trump’s election win last month mean for Canada?
With Donald Trump’s election win last month, all eyes are on the U.S. and what his policies might mean for the Canadian economy. While his victory may not seem directly connected to your mortgage, the reality is that U.S. policies often have a significant spillover effect on Canada, especially when it comes to interest rates, […]
Bank of Canada delivered its fourth consecutive rate cut
The Bank of Canada delivered its fourth consecutive rate cut. On October 23, the Bank of Canada lowered its policy rate a half percentage point, bringing it down to 3.75%, a reduction of 1.25% from its peak. This is the fourth consecutive rate cut this year, and it could bring a bit of relief if […]
The Federal government announces sweeping changes to Canada’s mortgage rules.
The federal government announced sweeping changes to Canada’s mortgage system in an effort to improve housing affordability and access. For higher priced mortgage markets One of the key changes is the increase in the CMHC-insured mortgage limit from $1 million to $1.5 million. This means buyers can now qualify for a mortgage with less than […]
Understanding the costs of buying, selling, and refinancing a home in Canada
When buying, selling or refinancing a home, closing costs are an inevitable part of the process. These costs can catch you by surprise if you’re not adequately prepared. Let’s demystify the closing costs and give you an idea of the potential costs involved. What are closing costs in a real estate transaction? Closing costs are […]
Understanding what impacts mortgage rates
Understanding what impacts mortgage rates can be confusing and complicated. Mortgage rates are frequently making headlines these days, especially now as they start to fall. But do you know what factors are influencing the mortgage rates you read about? What about the difference between fixed-rate mortgages and variable-rate mortgages? While mortgage rates can seem complex, […]
Mortgage renewals can be daunting, but not with a mortgage broker!
Mortgage renewals can be daunting, especially in today’s high interest rate environment where the prospect of facing a payment shock is very real for many homeowners. But as mortgage brokers, we understand the intricacies involved in the renewal process, especially given that rates have changed so much over the past two years. My goal is […]
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 […]
