Finally some good news – homeowners now have better options for mortgage transfer on renewal.  The Office of the Superintendent of Financial Institutions (OFSI) has announced that homeowners should have options on renewal of their mortgage at maturity or if they want to renew early.  For all homeowners that purchased their home with an “insured” […]

Buying your home now could save you thousands. With changes in interest rates, home prices and low real estate inventory, buyers continue to find it challenging to find a home. However, with lower home prices this is a good time for you to look at your options.  Even with higher interest rates buying your home […]

  In the 2022 Budget, the Government of Canada proposed the introduction of the Tax-Free First Home Savings Account (FHSA), a new registered plan to help Canadians save towards their first home by allowing account holders to contribute up to $40,000 over the lifetime of the plan The plan is set to launch in April […]

How will the trigger rate impact you? The trigger rate is when the homeowner is no longer paying sufficient interest on their mortgage.  The lenders may require the homeowner to choose from some options to correct the situation.  The next step is the trigger point and that is when the lender will require action IMPORTANT […]

It doesn’t matter if rates are up.  I realize that may seem like a strange thing to say. However, it all depends on how you look at the situation. We have seen low mortgage rates swinging from 1.59 – 3.69% over the past 10 years.  They go up and down like a ripple in the […]

Choosing the right rate and term in this market As the economy shifts and real estate pricing adjusts choosing the right rate and term in this market can make all the difference. When you listen to the news about interest rates there can be some confusion.  The media will typically talk about the Bank of […]

Test drive before you buy your new home. It is always interesting how much home buyers think they can afford for a mortgage payment.   If someone is paying $2000 for rent and is having difficulty saving for a down payment this is a great opportunity to review with your independent mortgage broker.  Then best to […]

On July 13,2022 the Bank of Canada increased the overnight lending rate by a full 1% which is causing some concern with homeowners and buyers as to what to expect with interest rates moving forward. Any changes to the overnight rate result in an increase to the Prime lending rate which has risen from 2.45% […]

What to expect with mortgage interest rates in 2022. After a 24 months of lower mortgage interest rates the slow and steady rise in 2022 is creating some unrest among home buyers and owners. Just breath! Always talk to your independent mortgage broker to educate yourself and to review your specific needs. Safe to say […]

How can you improve your credit score? Most people don’t check their credit score until they need to borrow money.  Sometimes that can be an issue if you don’t realize there are issues on your credit report till it is too late to fix it. I always recommend you pull your own credit report once […]