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What Happens If Your Mortgage Renewal Closes Late?
When purchasing a new property, you can generally count in it to close on time. Sure, there are some rare exceptions, but they are indeed rare. Â Purchasing is one [...]
Are Shorter Term Fixed Mortgages A Better Choice?
There are many decisions to make when arranging a new mortgage. Whether to go with a fixed or variable, amortization period, payment frequency, and term length. Prior to mortgage rule [...]
Should Variable Rates Be Avoided?
One of the most common questions I get is whether it’s better to go with a fixed or a variable rate mortgage. History has shown variable to win out over [...]
Further Increases To Prime Rate Expected
On September 7th, the Bank of Canada increased their rate by another 0.75% which was not surprising. Two of the big six banks (CIBC and National Bank) were not anticipating [...]
Another Large Rate Hike From The Bank of Canada
The Bank of Canada announced this morning that they will be increasing their overnight rate by another 0.75%. This means that prime rate will rise from 4.70% to 5.45%, which [...]
What Is a Mortgage Trigger Rate And Should You Be Concerned?
If you are in a true variable rate mortgage, your payment will remain unchanged for the term. This can give peace of mind to many as it guarantees a predictable [...]
What’s Expected From Mortgage Rates For The Rest Of 2022
The Bank of Canada has increased their overnight rate by 2.25% since March, and they are not finished yet. Their next scheduled rate announcement is on September 7th where they [...]
Can You Get A Mortgage While On Maternity Leave?
While starting or growing a family can be an exciting time, it represents a big change in your life. It can also bring on new challenges such as additional expenses [...]
Fixed Mortgage Rate Pricing Explained
Contrary to popular belief, lenders are not making hundreds of thousands of dollars off your mortgage. You might think that they are laughing all the way to the bank when [...]
How Many More Rate Hikes Are Expected From the Bank of Canada?
With the prime rate increasing by 2.25% since March, it’s only natural that many are worried about how much higher it will go. There is no shortage of doom and [...]
Fixed Mortgage Rates Are Finally Dropping!
Since October 2021, fixed mortgage rates have been stuck a seemingly never-ending upward trend resulting in increases of more than 3.00%. Fortunately, it looks as though the upward trend has [...]
Why Your Preapproval May No Longer Be Valid
If you’re like most homebuyers, you got preapproved to find out how much you will qualify for prior to shopping for your new home. Having a solid preapproval in place [...]
The Largest Bank Of Canada Rate Increase In 24 years
It was widely anticipated that the Bank of Canada would increase its key policy rate by as much as 0.75% in this morning’s scheduled announcement. However, they shocked the market [...]
Have Fixed Mortgage Rates Reached Their Peak?
Since the beginning of year, almost every piece of mortgage related news has been about increasing rates. As fixed mortgage rates have increased by roughly 3.00% since the fall, it’s [...]
How Much Higher Will Mortgage Rates Get?
The question that many have on their minds is how much higher will rates go. Fixed mortgage rates have increased by roughly 3.00% since the September 2021 while the prime [...]
The Effect Of Prime Rate Increases On Your Payment
If you are worried about rising mortgage rates than you are not alone. Fixed mortgage rates have increased by more than 3% since September 2021. Prime rate has increased by [...]
Are You Worried About Rising Mortgage Rates?
The Bank of Canada has increased their rate by 1.25% since the beginning of the year and are not finished. The next scheduled rate announcement is on July 13th when [...]
How To Maximize Your Savings At Renewal
One of the biggest mistakes that people make when their mortgage is coming up for renewal is to re-sign with their current lender without looking into other options. It’s super [...]
Bank of Canada Rate Announcement And What It Means For You
The Bank of Canada announced this morning that they will be increasing their key policy rate by another 0.50%. This means that we can expect the prime rate to increase [...]
Why A Fixed Rate May Not Be The Best Choice
Mortgage rates are always a hot topic of conversation, especially when they are on the move. As fixed mortgage rates have increased by more than 2% since September 2021, the [...]
7 Ways To Qualify For A Larger Mortgage
With real estate prices as high as they are, qualifying for the required mortgage can be challenging for many people. One advantage to using a mortgage broker is that we [...]
Will You Qualify For A Larger Mortgage With A Fixed or Variable Rate?
There are many things to consider when choosing between a fixed or variable rate mortgage. As of recently, you can add the mortgage amount you qualify for to that list. [...]
How Many Rate Hikes Will It Take To Lose With a Variable Rate?
The Bank of Canada has hiked their key policy rate by 0.75% since March 2nd, which resulted in immediate rate increases for anyone currently in, or considering a variable rate [...]
Are Fixed Mortgage Rates Now The Way to Go?
One of the most common mortgage questions is whether to go with a fixed or a variable rate. Some mortgage professionals will advise to always go variable, however, this is [...]
Should You Convert Your Variable Rate Into a Fixed?
Whenever there is talk about the Bank of Canada increasing rates, many start to wonder if they should convert their variable rate mortgage into a fixed. Some will automatically fear [...]