Category Archives for "Mortgage"

Bank of Canada Rate Announcement Oct 25th, 2017

The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Inflation has picked up in recent months, as anticipated in the Bank’s July Monetary Policy Report (MPR), reflecting stronger economic activity and higher gasoline […]

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10 Tips for First Time Home Buyers in 10 Words or Less

As part of Genworth’s Homeownership Education Week Seminar, Genworth decided to get social and ask recent first time homebuyers to give simple advice to others looking to purchase their first home. The results were captured and included in the Spring issue of Genworth’s online publication. Below is the Infographic from that publication!   Genworth also published a longer […]

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Mortgage Brokers Continue Fight for Competition

As you may well be aware, the government has recently made changes to the way mortgages are qualified through the Canadian Mortgage and Housing Corporation (CMHC). In short, these changes have made it more expensive for some of the broker channel lenders to fund mortgages, the increased cost of doing business is then passed on to consumers […]

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Saving for a Downpayment? Some Advice Along the Way!

If you are looking to purchase a property in the next while, you probably already know that you need at least 5% of the purchase price as a downpayment. Saving a bigger downpayment, let’s say 10%, certainly increases your chances of securing financing. While having a 20% downpayment allows you to avoid paying CMHC mortgage insurance […]

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