This morning’s rate announcement from the Bank of Canada was music to the ears of anyone currently in a variable rate mortgage. They came through with another 0.25% cut, which means that we can expect mortgage lenders to drop their prime rate accordingly.  The drop was what we were expecting. While it’s possible that the [...]

Since the Bank of Canada initiated the rate-cutting cycle with a 0.25% reduction on June 5th, there has been speculation about a subsequent cut during the next scheduled announcement on July 24th. In the interim, several key jobs and inflation reports were expected from both sides of the border. Now that we have the results [...]

Every mortgage comes with a maturity date, which marks the end of your mortgage term. This can informally be referred to as your renewal date. If you’re fortunate enough to have a zero balance on this date, then that’s it! You’re now mortgage-free and no further action is needed.  But if you’re like most people, [...]

While variable rate mortgages used to be a popular choice for many, they have since left a bad taste in the mouths of many given the substantial increases to prime rate in 2022 and 2023. Economists were forecasting increases by as much as 1.25% in 2022, but the actual number ended up being 4.00%, with [...]

The Bank of Canada rate cut on June 5th was the first in more than four years. With four straight months of declining inflation, the Bank of Canada had the confidence to move forward with the chop.  As there was still some uncertainty as to whether we would see the cut in June, bond yields [...]

Following the substantial rate increasing madness we experienced in 2022 and 2023, the 0.25% rate cut from the Bank of Canada on June 6thth was a huge relief. Particularly to those in variable rate mortgages… giving them the much-needed break they have been waiting for.  Now we get to enjoy the fun part!  A downward [...]

The mortgage arrangement process can seem simple and effortless, or it can become exhausting with one document requirement after another. If you have a better understanding of what a mortgage lender is looking for, and why they require certain documents, then the majority of those applying for a mortgage will find the process a breeze.  [...]

For the first time in over four years, the Bank of Canada has delivered a highly anticipated rate cut! As I say in my book, the BoC has a consistent pattern: they have never hiked rates without coming through with a cut within the same 5 year period. The trend continues!  We all knew rate [...]

Everyone is looking to save as much money as they can with their mortgage, and locking in at the lowest mortgage rate on the market is top priority. There is so much talk about the Bank of Canada dropping their rate that many are waiting for the next announcement before they make the decision to [...]

As the weather heats up, so does the buzz around a potential rate cut from the Bank of Canada. Everyone’s wondering: will the BoC finally give us some relief?  It’s no secret that a rate cut is on the horizon, but the million-dollar question is: when and by how much?  The Bank is laser-focused on [...]