31 Jan

Transferring Your Mortgage For A Lower Rate!

General

Posted by: Peter Paley

We have a couple of applications on our desk at the moment.  Our clients have built their new home and love it.  However, the build process was delayed, delayed, and delayed some more.  Their initial rates held by their banks in the 2%-4% range quickly became close to 6% in the last half of 2023.  […]

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30 Jan

My Mortgage Is Renewing, Should I Renew Or Refinance?

General

Posted by: Peter Paley

All mortgage holders renewing in 2024 will experience a little or a big payment shock.  If you’ve been following along, we are committed to providing all clients with our best renewal rates!   We will honour this commitment until the end of 2024% But what if the lowest renewal rate isn’t enough?   Let’s face it, 2023 […]

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19 Jan

The State Of The Rate – January 19, 2024

General

Posted by: Peter Paley

Any time that we do a State Of The Rate post we like to acknowledge and give many thanks to our industry colleagues who compile data and present us with excellent and concise economic updates.   A big shout-out to Dr. Sherry Cooper Chief Economist for DLCG, Bruno Valko VP of RMG Mortgages, and all of […]

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12 Jan

Getting A Mortgage Pre-Approval In 2024

General

Posted by: Peter Paley

Winter has finally hit!  What is more sobering than an arctic blast of -30 degrees Celsius?  This cold snap is a great reminder to anyone who is looking to purchase a new home, rental property, or vacation property to get pre-approved and lock in a rate, just in case inflation rears its ugly head once […]

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8 Jan

What Is Your Best Mortgage Rate?

General

Posted by: Peter Paley

As a mortgage broker who often and regularly advertises “The Best Rate”, “The Lowest Rate”, “The Greatest Rate” and even “The Best, Greatest, & Lowest Rate”, being asked what our best rate is can sometimes be maddening and a double-edged sword. Allow me to explain. One of our treasured and valued REALTOR partners referred a […]

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4 Jan

2024: The Year Of The Mortgage Renewal

General

Posted by: Peter Paley

Over half of the mortgages in Canada will be renewed in the next few years.  There will be sticker shock for many Canadian families who will be renewing into rates 1%-3% higher than their current mortgage.   This will result in higher mortgage payments for almost anyone. While we will keep hoping that the Bank Of […]

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