Statistics Canada has recently reported that the consumer price index has risen to new heights— hitting 4.7%, compared to the 4.4% this past September. However, this is in line with the market expectations as set out by the Bank of Canada in their recent report. Additionally, it is well below … Read More
Bank of Canada Rate Announcement
After another Bank of Canada announcement, many are wondering how it’ll affect their current mortgage rates. The Government of Canada is transitioning from their Quantitative Easing stage to their re-investment stage by purchasing Canadian bonds solely to replace maturing bonds. The Bank now owns about 45% of all outstanding GoC … Read More
The OSFI to resume policy work on the Canadian Qualifying Rate
A stress test is mandatory for showing exactly how much room for error you can afford when it comes to making your mortgage payments.
What is a Canadian Mortgage Stress Test?
A stress test is mandatory for showing exactly how much room for error you can afford when it comes to making your mortgage payments.
Don’t Do This When Seeking a Mortgage!
In today’s reality of tougher mortgage qualification rules, it’s even more important to pay attention to the little things that can make or break your chances of qualifying for a mortgage – or hanging on to your approval all the way through to closing. Did you know that it’s getting … Read More
Why Do I Need an Appraisal?
Mortgage lenders request an appraisal for several reasons, but the main two are: 1) When you’re buying a new home; and 2) If you’re dipping into your home equity through a refinance on your existing mortgage. An appraisal is an unbiased expert opinion on the value of your home carried … Read More
Is it Time for a Mortgage Checkup?
With spring only weeks away, now’s the perfect time to consider scheduling your annual mortgage checkup. It’s important to review your options every year to ensure you’re maximizing your savings. Spring’s a popular time for a refresh and it’s also the most common time of year to buy or sell … Read More
How Will the New Mortgage Rules Impact My Buying Power?
The chances are fairly high that you’ve heard a lot in the news surrounding new mortgage rules that came into play on January 1st, 2018. If so, you’re probably wondering how these new rules will affect you when it’s time to make a purchase or renew/refinance your current mortgage. Lenders … Read More
Purchase Plus Improvements Program
Purchase Plus Improvements Program You have been searching for a new home and have finally found one that you like. It’s right in your price range and all it needs is a few improvements. New floors, update the kitchen and bathroom, a coat of paint and it will be as … Read More
Your Credit Score – Why it is so Important for Your Mortgage Approval
The job of a Mortgage Professional is to provide our customers with unbiased mortgage options and professional financial advice. Knowledge of the lender guideline and and providing the best available interest rates is a very important part of our job. Giving professional financial advice on how to build and maintain … Read More
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