- Blog -

Bank of Canada Rate Cut - October 23, 2024

Thu, 24 Oct 2024 13:27:56 -0700

Oakville 2024 Readers' Choice Awards: Best Mortgage Broker and Best Mortgage Company

Tue, 22 Oct 2024 10:32:50 -0700

Incredibly honored to be named Best Mortgage Broker and Best Mortgage Company in the Oakville 2024 Readers' Choice Awards! ✨Diamond Winner for Best Mortgage Broker/Advisor✨✨Diamond Winner for Best Mortgage Company...

Why the Lowest Rate Isn’t Always the Best Mortgage Choice

Tue, 22 Oct 2024 07:59:08 -0700

Just as the cheapest car or house isn’t always the best choice, the lowest mortgage rate may not provide the greatest value. The best mortgage rate is one that minimizes your overall borrowing costs. The terms and conditions can greatly influence...

Mortgage Rules Are Changing

Tue, 01 Oct 2024 07:51:36 -0700

What Not To Do Before Closing

Mon, 20 May 2024 17:47:00 -0700

With current market conditions and stricter credit underwriting by lenders and mortgage insurers, it's important to be mindful of your actions between mortgage approval and closing. Lenders may recheck your credit any time before funding. Here...

🏡 Buying a Home - Step One: Mortgage Pre-Approval 🏡

Thu, 25 Apr 2024 19:41:14 -0700

Whether you're looking to buy your first home, or haven't purchased a home in the past several years, searching your local real estate listings is not always the best place to begin. Before you start looking through local listings, get pre...

Documents Required for Proof of Downpayment

Sat, 15 Apr 2023 15:31:05 -0700

Savings or Investments StatementsIf using savings from your bank account as your downpayment, you will need to provide a recent three month bank statements showing accumulation of funds.If your downpayment is from investments (RSP, GIC, stocks, bonds...

Canada's Foreign Buyer Ban - January 1, 2023

Fri, 30 Dec 2022 09:47:50 -0800

Are you a foreign buyer? Starting January 1, 2023, the Foreign Buyer Ban disallows anyone who isn't a Canadian Citizen or Permanent Resident from buying a residential home in Canada for two years. There are some exemptions. It also restricts...

Toronto’s Vacant Home Tax (VHT)

Fri, 30 Dec 2022 09:43:48 -0800

Toronto’s Vacant Home Tax (VHT) is coming into effect starting January of 2023! The goal of Toronto’s VHT is to increase the supply of housing by discouraging owners from leaving their residential properties unoccupied. Homeowners who choose to...

Bank of Canada Increases Interest Rate

Thu, 27 Oct 2022 09:53:04 -0700

At 10:00 am EST, Wednesday October 26, 2022 the Bank of Canada raised its target for the overnight rate to 3.75 %, making it a sixth consecutive hike in its effort to get surging price growth under control. Inflation around the world remains...

Bank of Canada Rate Announcement

Sun, 18 Sep 2022 11:55:59 -0700

The Bank of Canada has raised its policy rate to 3.25% today, marking the fifth consecutive rate increase in 2022. The Bank has stated borrowing costs need to rise to bring inflation back to a target of 2% from the current 7.6%. In theory, higher...

Do you know about the sliding scale rule when getting a mortgage?

Wed, 13 Jul 2022 08:17:36 -0700

You’re likely aware that the minimum downpayment to avoid mortgage default insurance is 20%. What many may not be aware of is that a downpayment of greater than 20% will sometimes be required. A mortgage sliding scale is where the minimum...

Variable Rate Mortgage vs Adjustable Rate Mortgage - Do you know the difference?

Mon, 11 Jul 2022 15:04:17 -0700

Although both are impacted by changes to the Prime Rate, Variable Rate and Adjustable Rate Mortgages are not the same. This video helps to explain the key differences. For more information, reach out to review and discuss which may be your best...

Bank of Canada Rate Increase - June 1st 2022

Mon, 06 Jun 2022 08:34:59 -0700

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT).Inflation globally and in Canada continues...

How Mortgage Penalties Are Calculated

Mon, 06 Jun 2022 08:28:07 -0700

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 and could end up...

Bank of Canada Rate Increase

Wed, 13 Apr 2022 12:03:00 -0700

As many predicted, this morning the Bank of Canada announced that it is increasing the overnight lending rate by 0.50% in an effort to control the soaring inflation rate. What does this mean for the Canadian consumer?Expect Banks and Lenders to...

Annual Mortgage Check up

Mon, 11 Apr 2022 08:51:22 -0700

Spring is a great time to consider doing an annual mortagge check up.Organizing a quick mortgage review each year can help provide peace of mind and ensure you are on track to your future goals while still ensuring you're able to manage the...