Locking in a Variable Rate Mortgage

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you could end up paying a significantly higher mortgage penalty should you […]

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  • June 19, 2024
  • Blog

Credit and Mortgage Financing

Credit. The ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit. That is, making good on all your […]

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  • June 12, 2024
  • Blog

Bank of Canada Rate Announcement Jun 5th, 2024

Bank of Canada reduces policy rate by 25 basis points. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario June 5, 2024 The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet […]

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Understanding Payment Frequency

You’ve most likely heard that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrow, plus interest. With that said, the frequency of how often you make payments to the lender is somewhat up to you! The […]

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  • May 29, 2024
  • Blog

Construction Assignments

One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender with one set of products, independent mortgage professionals work with multiple lenders who offer a wide selection of mortgage financing options that provide more choice. Increased choice in mortgage products […]

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  • May 22, 2024
  • Blog

Understanding a Spousal Buyout Mortgage

If you’re going through or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property and buy out your ex-spouse. If you’re like most people, your property is your most significant asset and is where most of your equity is tied up. […]

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  • May 15, 2024
  • Blog

Purchase Plus Improvements

The best place to start the mortgage process is with a pre-approval. But once you’ve been pre-approved for a mortgage and you’ve been shopping with location in mind, what happens when you can’t find a suitable property? There’s no doubt about it; finding the perfect property within your price range is a difficult task, especially […]

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  • May 8, 2024
  • Blog

How to Handle Missed Payments

If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue balance on any of your credit cards at this exact […]

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  • May 1, 2024
  • Blog

Porting Your Mortgage

Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big banks would lead you to believe, porting your mortgage is not an easy process. It’s […]

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  • April 24, 2024
  • Blog

Understanding the Recent Housing Affordability Measures in Canada

In recent years, housing affordability has become a significant concern for many Canadians, particularly for first-time homebuyers facing soaring prices and strict mortgage qualification criteria. To address these challenges, the Canadian government has introduced several housing affordability measures. In this blog post, we’ll examine these measures and their potential implications for homebuyers. Increased Home Buyer’s […]

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  • April 18, 2024
  • Blog
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