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Is a 3 Year Fixed Still the Best Choice?
Since October 2023, fixed mortgage rates have dropped by about 2.00%, creating a buzz among homeowners and buyers. Now, with predictions that the Bank of Canada may lower its rate [...]
Bank of Canada Cuts Rate by 0.50%
The Bank of Canada has cut rates by 0.50%, a move that was widely anticipated. While there were some signals that they might take a more conservative approach, the drop [...]
What to Expect from the Bank of Canada Announcement Next Week
Everyone loves to speculate about mortgage rates, but predictions aren't facts. Lately, there has been a lot of talk about the Bank of Canada (BoC) cutting rate by 0.50% on [...]
Big Increases to Fixed Mortgage Rates
Just last week, I wrote about mortgage rates falling faster than expected, but today we’re facing a sudden spike in fixed mortgage rates. So, what’s behind this shift? Last week, [...]
Mortgage Rates Falling Faster Than Expected
As we enter the fourth quarter of 2024, mortgage rates continue to fall. Fixed mortgage rates have already fallen by greater than 1.75% since they hit their peak in October [...]
Do Not Renew Your Mortgage Early
Let’s say you’ve got six months until your mortgage renewal, and suddenly your bank calls with what they’re calling a ‘special rate’ if you renew early. It sounds like an [...]
Big Changes to CMHC Insured Mortgages – What Impact Will it Have on the Market?
The long-awaited announcement is finally here! As of December 15th, 2024, the Department of Finance will raise the maximum price limit on CMHC-insured mortgages from $999,999 to $1.5 million. This [...]
How Low Can Mortgage Rates Go? – Here’s What to Expect
It’s the talk of the town, mortgage rates are falling… and falling fast. In fact, fixed mortgage rates have plummeted by as much as 1.50% since they reached their recent [...]
Bank of Canada Cuts Rate Again – What it Means for You
The Bank of Canada has just made another move, dropping the overnight rate by 0.25%—the third cut in a row. While it might not have been a nail-biting wait, it [...]
Using Mortgage Prepayment Privileges to Maximize Your Savings
When it comes to managing your mortgage, understanding prepayment privileges can make a significant difference in how quickly you can pay down your loan. These privileges are often represented by [...]
Lower Your Mortgage Payment at Renewal
If your mortgage renewal is approaching, you might be facing higher payments due to increased interest rates. Most mortgage holders had to qualify for their mortgage based on a higher [...]
Mortgage Penalties Explained: What Every Homeowner Should Know
When you select your mortgage product, you’re entering into a contractual agreement with the lender for a specific closed term. Should you find yourself needing to return the mortgage early, [...]
30 Year Amortization Now Available on Some Insured Mortgages
When purchasing a property with less than 20% down payment, mortgage default insurance (CMHC for example) is required. The advantage is that you’ll likely receive a lower mortgage rate. Possibly, [...]
Second Rate Cut from the Bank of Canada!
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 [...]
Another Rate Cut is Coming!
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 [...]
Your Guide to a Smooth and Stress-Free Mortgage Renewal
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 [...]
Variable Rate Mortgages in Today’s Market
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 [...]
Will the BoC Cut Rates Again in July?
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 [...]
More Rate Cuts Coming!
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 [...]
Everything You Need to Know About Mortgage Documentation Requirements
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 [...]
Finally a Rate Cut from the Bank of Canada!
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 [...]
Should You Wait for the BoC Before Locking in a Mortgage 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 [...]
What are the Odds of a Rate Cut in June?
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 [...]
Fixed Mortgage Rates Dropping?
Following weeks of upward pressure on fixed mortgage rates, we’re now starting to see some mortgage lenders come through with cuts. This doesn’t mean that fixed rates are going to [...]
Fixed and Variable Moving in Opposite Directions
As we get closer to the highly anticipated rate cuts from the Bank of Canada, everyone’s focus is on falling mortgage rates. However, mortgage lenders have been increasing their fixed [...]