11 May

25 Secrets Your Banker Doesn’t Want You to Know

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25 Secrets Your Banker Doesn’t Want You to Know. Twenty-five or thirty years can sound like an impossibly long time to service a loan – and for many of us, it is. If you are looking to pay off your mortgage faster, here are some tried-and-true tactics to get you to financial freedom that much […]

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7 May

10 First-Time Homebuyer Mistakes

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10 First-Time Homebuyer Mistakes. As a first-time buyer, there are some homebuyer mistakes you should avoid to ensure a smooth and successful experience: THINKING YOU DON’T NEED A REAL ESTATE AGENT You might be able to find a house on your own, but there are still many aspects of buying real estate that can confuse […]

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27 Mar

Bank of Canada Cut’s Rates 50bps to 0.25%

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Bank of Canada takes unscheduled emergency action today to cut rates 50 bps to 0.25% and to announce large-scale purchases of commercial paper and government securities to improve liquidity and assure credit availability. Bank of Canada Moves to Restore “Financial Market Functionality” The Bank of Canada today lowered its target for the overnight rate by […]

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24 Mar

Covid-19 Resource Page

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We have had many inquiries regarding mortgage deferral and relief programs over the last week. We understand these are very important questions. There is some good news in this very stressful time for people who are worried about making their mortgage payments. Canadian mortgage insurers are backing the current crisis and are working with our lenders […]

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4 Mar

March 2020 Bank of Canada Rate Drop

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Interest rates hit record lows. 5-year yield in Canada plunges to 0.82%.  The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to do more if necessary. The BoC lowered its […]

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21 Feb

Morneau Eases Stress Test On Insured Mortgages

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Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to […]

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30 Oct

Bank of Canada Holds Policy Rate Steady Amid Global Uncertainty

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It is rare for the Bank of Canada and the US Federal Reserve to announce rate decisions on the same day, but today’s announcements highlight the stark differences in policy in the two countries. The Bank this morning announced they would maintain their target for the overnight rate at 1.75% for the eighth straight meeting. […]

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6 Aug

Mortgages are like Coffee

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What’s your best Rate? The most common question we get for mortgages is “what is your best rate?” Now imagine we walked into our local coffee shop and asked “what is your best price?” Doesn’t happen. There are all kinds of different coffees and lots of ways to make them. The same goes for mortgages. […]

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19 Jul

Mortgage Qualifying Rate Drops!

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Exciting news for borrowers!  The Bank of Canada Qualifying rate has decreased from 5.34% to 5.19%. This is the first decrease that we’ve seen in the qualifying rate since September of 2016. If you did a little happy dance, that’s understandable….so did we!   What does the decrease mean for your mortgage pre-qualification? The change […]

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