Category Archives for "Blog"

Bank of Canada Rate Announcement Jun 7th, 2023

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario June 7, 2023 The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is also continuing its policy […]

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Saving Money For A Downpayment

Whether you want to set aside money to buy a car or take a vacation, save up for a down payment on a property, or plan for your retirement, the principles are the same. However, as you’re reading this article on a website dedicated to helping you secure mortgage financing, we’ll assume you want tips […]

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  • May 31, 2023
  • Blog

Going From A Variable Rate To A Fixed 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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  • May 24, 2023
  • Blog

Understanding Credit And How It Relates To Your Mortgage

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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  • May 17, 2023
  • Blog

Renovate The Home You Are Buying!

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 10, 2023
  • Blog

What To Do If You Have Missed A Payment

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 3, 2023
  • Blog

How Do You Port a 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 26, 2023
  • Blog

The Source Of Your Downpayment Matters

If you’re looking to purchase a property, although you might not think it matters too much, the source of your downpayment means a great deal to the lender. Let’s discuss the lender requirements, what your downpayment tells the lender about your financial situation, a how downpayment helps establish the mortgage loan to value. Anti-money laundering […]

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  • April 19, 2023
  • Blog

Bank of Canada Rate Announcement Apr 12th, 2023

Bank of Canada maintains policy rate, continues quantitative tightening. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario April 12, 2023 The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. […]

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What Is A Spousal Buyout?

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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  • April 5, 2023
  • Blog
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