CMHC Changes the Game.... Again!

CMHC Changes Underwriting Guidelines. Lower debt servicing could mean a harder time qualifying, along with higher minimum credit scores. Sheesh!

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Check this Out! Get your free credit report from Equifax!

In response to Covid-19, Equifax has decided to offer free access to your Equifax credit report. Learn how to access your free report here!

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Bank of Canada lowers overnight rate target AGAIN, to 1/4% (.25%)

Hey everyone!  Since the start of the Covid-19 crisis, this has been an absolutely crazy year for all of us, including everyone involved in the financial sector. Canada's central bank has continued to drop it's policy rate as the crisis has evolved, in hopes of mitigating some of the economic destruction this crisis and lockdown has caused. They've now reached an 'overnight rate' of just 0.25%. This is the rate that influences the 'Prime Rate' that banks offer their customers for...

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Bank of Canada lowers overnight rate target to ¾ percent

Well that was unexpected... Here we go again!  Here's the highlights: For everyone wondering how this will impact current mortgage rates, here's the highlights: This is ANOTHER 0 .5% drop to the bank of Canada's 'overnight rate'. The 'overnight rate' is a rate that is used to influence bank's/lender's 'Prime Rate', which is used to calculate variable mortgage rates. Because the bank's 'Prime Rate(s)' will likely drop AGAIN (read: should drop), we will see that...

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Bank of Canada lowers overnight rate target to 1 ¼ percent

Bank of Canada lowers overnight rate target to 1 ¼ percent

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7 Things to Expect During an Appraisal Visit

7 things you can expect when having your home appraised. A great primer for clients who are about to have an appraiser visit your home. Content provided by Adlaw Appraisals.

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Mortgage Prepayment Penalties

All mortgages are NOT created equal when it comes to penalty calculations. Here's what you need to know!

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Low Rate = Low Feature

Interested in that super-low-rate mortgage promotion you just saw? Think twice and read the fine print before signing up, or you may get more than you bargain for.

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Mobile & Modular Homes: 101

Find out the difference between mobile and modular homes, and some considerations when trying to obtain a mortgage for these types of properties.

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Interest Rate Sign

Bank of Canada Raises Rates... Again!

October 24 2018. Bank of Canada raises overnight rate again, leading to prime rate increases.

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Mortgage Portability

Mortgage Portability. A great way to reduce or eliminate a prepayment penalty on your next move.

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Choosing A Mortgage Term

Having a hard time choosing the right mortgage term for your needs? Here's some insight into the benefits and drawbacks of various options.

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What Do I Qualify For? (and why?)

Information about how banks/lenders calculate exactly how much mortgage you can afford. Great info for first time homebuyers and homeowners considering a refinance.

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Fixed vs. Variable Mortgage Rates

A comparison and Q&A of how to choose between a fixed or a variable mortgage rate.

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Why Bankruptcy Might Not Be The Best Option

A comparison between choosing a bankruptcy vs. a consumer proposal. While neither is ideal when applying for a mortgage, they can sometimes be necessary and each has different impacts down the road.

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No Down Payment? No Problem With Flex Down!

Flex Down Payment. A great way to borrow the down payment and buy your first home sooner!

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Rental Income

Interested in how rental income can help you qualify for a larger mortgage? Learn more here about how lenders calculate/use this type of income.

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Bank of Canada Rate Update July 11, 2018

Bank of Canada Rate Announcement July 11, 2018

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Guest Post: If one things for certain, it's uncertainty

A guest post from First National Financial, discussing current economics and the likelihood (or unlikelihood) of a Bank of Canada rate hike this coming July 2018.

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Income Confirmation. Questions, Answered!

Everything you didn't know you wanted to know about income qualifying for a mortgage!

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Bank of Canada Rate Update May 30, 2018

Rate update for the Bank of Canada, May 30th 2018.

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Bank of Canada Rate Update - April 18, 2018

As widely anticipated by economists, the Bank of Canada (BoC) has left its trendsetting policy rate at 1.25 per cent. Canada's central bank, however, expressed optimism about the economy picking up some speed in the April-to-June period after growth slowed down to 1.3 per cent in the first three months of ...

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Switch Up The Payment

Did you know that carefully choosing the right payment schedule for your mortgage could save you hundreds, or even thousands of dollars? Read on to learn more!

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Interest Rate Sign

Rates and Rates and Rates, Oh My!

During this morning's meeting the Bank of Canada announced in an unexpected move that they will be increasing the overnight rate by an additional .25%. Interested to know how this affects you?

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What to know before you start a renovation.

Purchase Plus Improvements

If you've ever wondered how to include the cost of renovations into your mortgage, you've come to the right place! The Purchase Plus Improvements program is exactly what you need in order to turn those renovation dreams into a reality when you're buying your next home.

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