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 understandable that they are getting their share of the headlines. But has the fixed mortgage rate increasing madness finally come to an end? For the [...]

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 rate has increased by 1.25%. It’s no big secret that the Bank of Canada is not finished with their rate increases which will continue on [...]

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 1.25% since March with more rate increases on their way. All in all, prime rate is expected to increase by another 1.50% to 2.00% before [...]

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 they are expected to increase by as much as 0.75%. That would be a triple increase in a single announcement.   But will they really [...]

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 easy as you just need to sign the form and send it back to the bank. That’s it, you’re done!  Mortgage renewed!  But this can [...]

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 from 3.20% to 3.70%.  I would expect the big banks to be the first to announce that they have matched the increase, followed by monoline [...]

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 topic is now hotter than ever. The rapidly increasing rates are leading many to start looking for fixed mortgage rates exclusively. But this can be [...]

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 have options with big banks, as well as many other mortgage lenders. Some with more flexible guidelines that may allow you to qualify for a [...]

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.    This is something that is relatively new. For the past several years, your choice of mortgage product would not have an impact on your [...]

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 mortgage. They are not going to stop there and increases of an additional 1.00% - 2.00% are expected over the next year. This would bring [...]