With all the economic uncertainty caused by a global pandemic, unprecedented unemployment levels, and government stimulus, mortgage rates have been on a steady decline for almost a year. In fact, we’ve hit some historic lows along the way. Now, despite the Bank of Canada committing to keeping interest rates low into 2023, if you’ve been […]
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Canada is an interesting place to buy a property right now. If you’ve paid attention to the media at all over the last few weeks, you’ve probably heard that… Many people are still out of work due to COVID-19. The bank of Canada has forecasted rates will stay low for a long time. Although house […]
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As the March 1st, 2021 RRSP deadline approaches for the 2020 tax season, if you have money saved for a downpayment but you’re not quite ready to buy a home, here’s a little strategy that might interest you. Did you know that you can use the money saved in an RRSP as a downpayment? It’s […]
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Although getting a mortgage is exciting as it allows you to become a homeowner, a mortgage is, in fact, a lot of debt. So if you have a mortgage, your goal should be to get rid of it as quickly as possible. Here are four things you can do to help pay off your mortgage […]
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If your mortgage term is almost up for renewal, there’s a good chance you’ll be pleasantly surprised with the low-interest rates available on the market today. While the pandemic has caused a lot of economic uncertainty, the result has been very low interest rates. In fact, the Government of Canada has indicated that rates will […]
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Is now a good time to refinance your mortgage? Well, maybe! Interest rates are very low right now, and according to the bank of Canada, they will most likely remain low until at least 2023. So while everyone has different reasons to access their home equity, to a maximum of 80% of the property value, […]
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Bank of Canada will hold current level of policy rate until inflation objective is achieved, continues quantitative easing. The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is […]
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A question that comes up from time to time when discussing mortgage financing is, “If I have collections showing on my credit bureau, will that impact my ability to get a mortgage?” And as the answer might have a broader application than what you might initially think, it’s worth spending a little time discussing. Collections […]
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The beginning of a new year is an ideal time to review your finances. Hopefully, with the wild ride of 2020 behind us, 2021 is a time we can all move forward. Regardless of where you’re at financially or your financial goals, here are four areas to consider as you take control of your finances […]
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Should I get a Mortgage Pre Approval? Going through the pre-approval process is important. However, the actual term ‘pre-approval’ is often misunderstood. It’s not magic, and it’s certainly not binding. Let’s be clear, a pre-approval isn’t for the lender; it’s for you! And yes, if you’re considering buying a property, you should start with a […]
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