The Bank of Canada forged ahead with another interest rate hike in a nod to the country’s surging economy, while signaling its appetite for further tightening may be curbed by a rising Canadian dollar and sluggish inflation.Policy makers raised their benchmark rate for a second time since July, by 25 basis points to 1 [...]
Yikes! Most of us will cringe at the idea of rising interest rates and their effect on our ability to afford the mortgage payments that some Canadians are already struggling to make. Our homes are the single biggest financial investment that most of us will ever make. For the first time since July 2015, [...]
If you have yet to purchase your first home, or if you’ve considered selling your home and finding something new, taking a look at the market and finding something in your price range can be tricky. Feeling overwhelmed? You’re not alone. Many cities all across Canada are experiencing the same thing – rising house [...]
Congratulations! You are now the proud owner of a new home! You also likely own a rather intimidating mortgage as well. That debt may seem like a daunting mountain you’ll be chipping away at for years, but you could actually pay it off faster than you realize. Here are five hot tips from mortgage-handling [...]
Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go for a mortgage Mortgage brokers can often beat the bank rates by using different lending institutions. The bank [...]
Your Credit Score that the lenders use, not to be mistaken by the Credit Risk Score you see when you check your own credit, is one aspect of determining your borrowing power. The better your score, the length of established credit and your payment history the better when it comes to mortgage financing. Let’s [...]
