Everything has a cost. I was part of a conversation recently.  I was listening to different points of view.   One person had recently purchased a home and started paying their mortgage, the other stated that interest rates were too high and that they were waiting for either the prices of houses to come down, or […]

Sometimes I forget how many different services we offer to ensure that we have to help our clients find the right financial solutions. Mortgage Pre-Approval Purchase (Fully Underwritten) Purchase Plus Improvements (Up to $100k) Mortgage Refinance Mortgage Refinance Plus Improvements Mortgage Debt Consolidation Mortgage Renewal Mortgage Switch/Transfer Cashback Mortgages Borrowed or Flex Down Payment Construction […]

Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free as well as how much interest you pay over the lifetime of your mortgage (a longer lifetime equals more interest, whereas a […]

More sad news for the Canadian Mortgage space.  The Government of Canada’s FTHBI First Time Home Buyer Incentive is going away! All applications for the incentive will need to be received by March 21st at 12:00 a.m. EST.   For single-income households, this program usually made the difference between being able to qualify for a house […]

One of my favourite things about being a mortgage broker is bumping into a potential client who hasn’t ever used the services of a mortgage broker before and in this case, didn’t even know what a mortgage broker was. I remember getting the text around 9:00 p.m. and I was just putting the finishing touches […]

I want to start by thanking my usual sources of information Chief Economist for DLCG Dr. Sherry Cooper,  RMG Vice President of National Sales – Bruno Valko,  and our friends at TD Economics. The US and Canadian Economies seem to be diverging on two different paths. The US is in an election year and everyone […]

Our scenario comes from a recent client we helped with their mortgage.   Credit scores were good, employment and income were very good, but there was quite a bit of consumer debt.   The mortgage on the home was at a pandemic-low interest rate, and while it seemed silly to try to find a replacement option, the […]

Did you get your mortgage last year?  Are you in a Fixed Rate Term over 5.5%, maybe even over 6%?   Are you worried that you may have a very high penalty? I’m writing this post today to tell you that you may be able to get out of your existing mortgage with a 3-month interest […]

Yesterday, the US released economic data, which is already negatively impacting Canadian fixed mortgage rates. US inflation numbers were 3.1%, which is above market expectations of 2.9%.  Core inflation also remains stubborn and it ticked up from 0.3% to 0.4%.   Immediately we saw our bond yields increase.  The 5-year Canada Bond Yield opened this morning […]