Everyone wants to save as much money as possible, so it's only natural that you'll want the lowest rate on your mortgage. After all, the lowest rate means the most savings, right? Not always. The rate is the most visible part of a mortgage, and it is the easiest thing to compare. So it gets [...]
Having a strong credit score is a key component in your qualification, which can directly impact your rate. Just not the way most people assume. In most cases, a higher score won't get you any special privileges. However, there are some exceptions where a higher score may be required to secure the lowest mortgage rate. [...]
The Bank of Canada’s October 28 decision was supposed to be fairly simple, with all signs pointing to another hold. But things can change fast in the financial world, and odds of a rate hike on this date are building. Market pricing has swung sharply. A hike is no longer a distant possibility. It is [...]
I've been warning about upward pressure on fixed mortgage rates for the past month, and we've finally hit the point where virtually all mortgage lenders are now taking action. The war in Iran has no end in sight, with Trump now saying that it will end... after the mid-term election. Right. Just as he said [...]
On September 2nd, the Bank of Canada left its overnight rate unchanged. Many believe this means that fixed mortgage rates will also remain stable. But this is not accurate. Bond yields continue to trend upward, which is putting serious upward pressure on fixed mortgage rates. A few lenders have already increased and I would expect [...]
The Bank of Canada just hit pause again, holding its rate for the seventh consecutive time. The overnight rate remains at 2.25%, which is what mortgage lenders use to set their prime rate, which will remain at 4.45%. So, what does this mean for your mortgage? It means that floating rate products such as variable-rate [...]
A fresh round of Canada-U.S. tariffs has put mortgage rate watchers on alert. After negotiations broke down over the weekend, approximately $20 billion of Canadian exports to the United States were hit with 50% US tariffs. Prime Minister Mark Carney has said Canada will respond dollar for dollar, announcing retaliatory tariffs on Tuesday, covering approximately [...]
Some Canadians are hoping for another Bank of Canada rate cut before the end of 2026, but this is something the current forecasts do not support. But that does not mean the outlook is settled. Canada is dealing with several issues that could impact mortgage rates. President Trump’s proposed 50% tariffs on Canadian goods have [...]
You have an accepted offer to purchase a new home... but there’s just one problem: your down payment is coming from the sale of your current home, which closes at a later date than the purchase. In other words, you won't have the funds in time for the closing of the new property. That timing [...]
Being an entrepreneur takes serious drive and dedication. You take the risks, you put in the long hours, and you build something from the ground up. But when it comes time to buy a home, you might feel like you're being penalized for your success... which is more than a little frustrating. As a former [...]
