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Category: Mortgage (76 posts)

  • July 8, 2024 @ 8:54 AM
  • Posted by Roar Admin

7 Things to Know When You Are Looking to Purchase a Cottage or Vacation Home

Purchasing a cottage or vacation home can be an exciting venture, offering a perfect getaway from the hustle and bustle of city life. However, it's essential to approach this purchase with careful con

  • June 21, 2024 @ 9:28 AM
  • Posted by Roar Admin

7 Smart Strategies to Help Save Money on Your Mortgage

Hello, and welcome to our blog! If you're reading this, chances are you're looking for ways to make your mortgage more manageable. Whether you're a first-time homebuyer or a seasoned homeowner, findin

  • June 7, 2024 @ 10:12 AM
  • Posted by Roar Admin

How Lower Interest Rates Can Impact Your Mortgage: Insights for Canadians

The Bank of Canada recently made headlines by lowering its interest rates for the first time in over two years. This decision has significant implications for Canadians, particularly t

  • June 5, 2024 @ 9:23 AM
  • Posted by Roar Admin

June 5 - 2024 - Bank of Canada reduces policy rate by 25 basis points

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

  • May 23, 2024 @ 11:00 AM
  • Posted by Roar Admin

When to Consider a Private Mortgage: A Guide for Canadian Homebuyers

Navigating the world of Canadian mortgages can be scary, especially when traditional lenders, like banks and credit unions, close their doors. This is where private mortgages come into play. For

  • May 9, 2024 @ 9:55 AM
  • Posted by Roar Admin

Home improvement: Which projects boost your property value?

For many homeowners, home improvements aren't just about creating a more comfortable living space - they're also key to boosting property value. Here are the home improvement projects that offer the h

  • May 8, 2024 @ 12:42 PM
  • Posted by Roar Admin

5 Great Ways to Improve Your Credit Score

As a mortgage professional, we often work with clients who are eager to improve their credit scores. A higher credit score not only increases your chances of getting approved for a mortgage bu

  • April 24, 2024 @ 9:37 AM
  • Posted by Roar Admin

RRSP Home Buyers Plan

In 2024, the Canadian government made significant changes to the Registered Retirement Savings Plan (RRSP) Home Buyers' Plan (HBP), aiming to make homeownership more accessible, particularly for

  • April 10, 2024 @ 2:08 PM
  • Posted by Roar Admin

Paying off your mortgage early - The Pros and Cons

Certainly! Paying off your mortgage early is a significant financial decision that many Canadians grapple with. It can be an appealing goal, offering both financial freedom and peace of mind. That sai

  • April 10, 2024 @ 9:51 AM
  • Posted by Roar Admin

April 10-2024 - Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The Bank e

  • March 27, 2024 @ 10:07 AM
  • Posted by Roar Admin

The Impact of Canadian Economic Trends on Mortgage Rates: What You Need to Know

Navigating the world of mortgages can sometimes feel like trying to predict the weather in Canada: just when you think you've got it figured out, things change. But unlike the weather, understanding

  • March 20, 2024 @ 9:25 AM
  • Posted by Roar Admin

Unlocking the Door to Home Ownership: Simple Tips to Boost Your Credit Score

Hello, homebuyers and financial enthusiasts! Today, we're diving into a topic that's as crucial as it is misunderstood: your credit score. Think of your credit score like a key. The higher it is, the

  • March 8, 2024 @ 9:21 AM
  • Posted by Roar Admin

Time to spring forward with your mortgage goals!

As the days grow longer, we warmly welcome the arrival of spring – a season of renewal and growth. Just as we set our clocks forward for daylight saving time, it's a perfect moment to take proactive s

  • March 6, 2024 @ 9:14 AM
  • Posted by Roar Admin

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e

  • February 10, 2024 @ 6:12 PM
  • Posted by Roar Admin

Managing Your Mortgage Renewal in a High-Rate Environment

Hello homeowners. With interest rates higher than they have been in many years, many of you might be anxious about your upcoming mortgage renewal. It's completely understandable, and you're not alon

  • February 9, 2024 @ 12:20 PM
  • Posted by Roar Admin

RRSP contributions, home equity, and mortgage strategies to build wealth

As we find ourselves in the midst of RRSP season, it's an opportune time for homeowners like you to evaluate how your property can be a pivotal asset in boosting your financial growth. The deadline fo

  • January 24, 2024 @ 9:00 AM
  • Posted by Roar Admin

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e

  • January 15, 2024 @ 9:22 AM
  • Posted by Roar Admin

Bank of Canada's 2024 Outlook: A Year of Consideration

Bank of Canada's 2024 Outlook: A Year of Consideration Happy New Year! I hope you had a wonderful holiday season and are ready to embark on a prosperous 2024. As we usher in the new year, I want to

  • January 3, 2024 @ 11:17 AM
  • Posted by Roar Admin

Should I break my mortgage early?

The house you've had your eye on for years comes up for sale and you jump at it, interest rates have dropped or another lender is offering you what appears to be a better deal, you've recently gone th

  • December 19, 2023 @ 9:16 AM
  • Posted by Roar Admin

Navigating High Interest Rates: Strategies for New Home Buyers Across Canada

Introduction In today's economic landscape, we're seeing a trend that can be quite intimidating for anyone looking to step into the world of home ownership – high interest rates. But fear not! This b

  • December 14, 2023 @ 12:26 PM
  • Posted by Roar Admin

Navigating Your Mortgage: Practical Tips from the Experts

Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today's e

  • December 7, 2023 @ 9:03 AM
  • Posted by Roar Admin

Exploring Mortgage Amortization Extensions

Recent inflation numbers indicate that inflation is slowing, and many economists are saying that the most recent drop in the inflation rate will give the Bank of Canada the slack that it needs to hit

  • December 6, 2023 @ 9:17 AM
  • Posted by Roar Admin

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The

  • December 3, 2023 @ 5:38 PM
  • Posted by Roar Admin

Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape

In recent years, we've witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn't just about swapping office desks for dinin

  • November 23, 2023 @ 8:12 AM
  • Posted by Roar Admin

Canada's New Updated Mortgage Charter

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y

  • November 15, 2023 @ 11:58 AM
  • Posted by Roar Admin

Understanding Fixed vs. Variable Rate Mortgages

If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i

  • November 9, 2023 @ 8:53 AM
  • Posted by Roar Admin

Home Equity: Refinancing or Second Mortgage

Home Equity: Refinancing or Second Mortgage Considering the 2023 housing market's dynamics, with its high interest rates and market unpredictability, let's discuss the significance of home equity.

  • November 2, 2023 @ 10:15 AM
  • Posted by Roar Admin

6 things to know about capital gains and taxes for people across Canada

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show

  • October 25, 2023 @ 9:37 AM
  • Posted by Roar Admin

Bank Of Canada Rate Update October 25, 2023

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%

  • October 24, 2023 @ 10:31 AM
  • Posted by Roar Admin

Mortgage Strategies in a Rising Interest Rate Environment

Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revolv

  • October 6, 2023 @ 2:04 PM
  • Posted by Roar Admin

Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021

  • October 1, 2023 @ 8:28 AM
  • Posted by Roar Admin

Understanding and Utilizing Home Equity

If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h

  • September 17, 2023 @ 12:03 PM
  • Posted by Roar Admin

Can a first-time home buyer have a mortgage co-signer?

Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact

  • September 7, 2023 @ 11:02 AM
  • Posted by Roar Admin

Demystifying Credit Scores

These days, like so many things, your credit score is easily accessible and free. Not so long ago, the only way to see your credit score was to obtain a copy of your credit report, which involved subm

  • September 6, 2023 @ 9:27 AM
  • Posted by Roar Admin

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infla

  • August 23, 2023 @ 10:37 AM
  • Posted by Roar Admin

Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as

  • August 5, 2023 @ 8:24 AM
  • Posted by Roar Admin

Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p

  • July 27, 2023 @ 9:29 AM
  • Posted by Roar Admin

Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r

  • July 12, 2023 @ 11:00 AM
  • Posted by Roar Admin

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Gl

  • July 11, 2023 @ 9:47 AM
  • Posted by Roar Admin

Smart move: bridge financing provides a smooth transition between mortgages

Summer is officially in full swing which means vacation time, backyard barbecues, pool parties, etc., but summer is also "moving season". If you're one of the many Canadians who will be moving t

  • June 13, 2023 @ 6:28 PM
  • Posted by Roar Admin

Some great tips to help you save for a home

A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for

  • June 9, 2023 @ 9:16 AM
  • Posted by Roar Admin

Renewing in a higher rate environment

I've been getting a lot of questions lately about mortgage renewals – not surprising, given the steady rise of mortgage rates over the last couple of years. People with mortgages renewing in 2023 and

  • June 3, 2023 @ 10:14 AM
  • Posted by Roar Admin

Strategies for Speeding Up Mortgage Repayment

Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a

  • May 15, 2023 @ 8:31 AM
  • Posted by Roar Admin

Learning about the new First Home Savings Account (FHSA) program

With the market starting to stabilize, and in many markets housing prices starting to rise again, maybe you or someone you know is looking at purchasing their first home before home prices rise too mu

  • April 20, 2023 @ 4:32 PM
  • Posted by Roar Admin

First-Time Home Buyer Budgeting: What You Need to Know

As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e

  • April 12, 2023 @ 9:21 AM
  • Posted by Roar Admin

Bank Of Canada Rate Update April 12, 2023

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.

  • April 5, 2023 @ 5:16 PM
  • Posted by Roar Admin

What first-time homebuyers can expect with the new tax-free First Home Savings Account

Since it was proposed in the 2022 Federal Budget, we've learned more details about this exciting new program aimed at helping first-time homebuyers purchase a home.  The bill is

  • March 9, 2023 @ 8:24 PM
  • Posted by Roar Admin

Four Ways to Take Control and Thrive in a Challenging Market

If you're struggling financially as a result of increased living expenses and interest rates, you are not alone. A lot of Canadians are feeling a little helpless these days, with talk of rising intere

  • March 8, 2023 @ 3:20 PM
  • Posted by Roar Admin

Bank of Canada Rate Update March 8, 2023

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at

  • March 5, 2023 @ 8:07 PM
  • Posted by Roar Admin

Selling Your Home in the Winter: How You Can Make the Most of It

Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov

  • February 27, 2023 @ 1:35 PM
  • Posted by Roar Admin

Title insurance and home insurance–protect what matters most

When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins

  • February 10, 2023 @ 4:34 PM
  • Posted by Roar Admin

Where is the housing market going in 2023?

With 2023 underway, and the latest Bank of Canada rate increase to 4.5%, combined with the stress of the increased cost of living on Canadian households, the questions that are on everyone's minds are

  • January 25, 2023 @ 3:40 PM
  • Posted by Roar Admin

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

  • January 5, 2023 @ 3:35 PM
  • Posted by Roar Admin

This year create financial resolutions that you can stick to

A new year brings a host of new year's resolutions. It's very common for people to make these resolutions around family, friends, eating better, or even the cliché going to the gym more. This year, en

  • December 28, 2022 @ 10:15 PM
  • Posted by Roar Admin

Should You Spend the Full Mortgage Amount You're Approved For?

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not

  • December 8, 2022 @ 8:17 PM
  • Posted by Roar Admin

The Pros and Cons of Fixed vs. Variable Mortgages

When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c

  • December 8, 2022 @ 5:54 PM
  • Posted by Roar Admin

The Pros and Cons of Locking In your Mortgage Rate

The Pros and Cons of Locking In The holiday season is upon us, bringing an end to a tumultuous year. 2022 saw inflation reach levels not seen for 40 years, followed by substantial interest rate hik

  • December 7, 2022 @ 7:58 PM
  • Posted by Roar Admin

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.

  • November 3, 2022 @ 1:32 PM
  • Posted by Roar Admin

Thinking of buying? Don't be put off by high rates.

2022 has already been tough on Canadians' wallets, and recent economic data shows the pain is unlikely to end soon. Inflation continues to run hot, and on October 26 the Bank of Canada further r

  • October 26, 2022 @ 4:00 PM
  • Posted by Roar Admin

Bank of Canada Rate Update October 26, 2022

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a

  • October 19, 2022 @ 5:28 PM
  • Posted by Roar Admin

Best Ways to Plan for Your Down Payment

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time.

  • October 11, 2022 @ 2:14 PM
  • Posted by Roar Admin

A fresh look at the opportunities in today's housing market from a mortgage perspective

When news reports present a consistently gloomy view of rising rates and the distinctly negative impact on the housing market, it's easy to feel discouraged. But the news frequently doesn't tell the f

  • September 16, 2022 @ 9:33 PM
  • Posted by Roar Admin

How Mortgage Rates Affect Buying Power?

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p

  • September 8, 2022 @ 2:22 PM
  • Posted by Roar Admin

A look at how rate increases impact different mortgage types

With inflation at its highest level in almost 40 years, the Bank of Canada continues to take drastic action to cool the economy with the latest of five consecutive rate increases announced on Septembe

  • September 7, 2022 @ 4:02 PM
  • Posted by Roar Admin

Bank Of Canada Rate Update September 7, 2022

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate

  • August 24, 2022 @ 8:34 PM
  • Posted by Roar Admin

Should You Pay Off Your Mortgage Early?

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o

  • August 4, 2022 @ 1:44 PM
  • Posted by Roar Admin

Budgeting for Inflation

If you thought the end of the pandemic would bring a return to economic normalcy, 2022 has certainly been surprising. Summer has seen inflation return to the forefront of consumers' economic worries f

  • July 13, 2022 @ 6:05 PM
  • Posted by Roar Admin

Bank Of Canada Rate Update July 13, 2022

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate

  • July 7, 2022 @ 5:20 PM
  • Posted by Roar Admin

Mortgage Fundamentals for Home Purchases

Mortgage Fundamentals for Home Purchases With interest rates continuing to rise, and housing markets beginning to cool, if you're considering a home purchase anytime soon, it's a good idea to revisit

  • July 7, 2022 @ 1:42 PM
  • Posted by Roar Admin

Mortgage Fundamentals for Home Purchases

With interest rates continuing to rise, and housing markets beginning to cool, if you're considering a home purchase anytime soon, it's a good idea to revisit some mortgage fundamentals to ensure you'

  • June 3, 2022 @ 7:56 PM
  • Posted by Roar Admin

How Rising Rates Can Affect Your Mortgage

The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level in 30 years and spurred the Bank of Canada to move toward a tighter monetary polic

  • June 1, 2022 @ 3:54 PM
  • Posted by Roar Admin

Bank Of Canada Rate Update June 1, 2022

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at

  • May 26, 2022 @ 6:24 PM
  • Posted by Roar Admin

How a Mortgage Pre-Approval Can Protect You from Rising Rates

With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy

  • May 5, 2022 @ 9:06 PM
  • Posted by Roar Admin

The Tax Free First Home Savings Account (FHSA) explained

The Tax Free First Home Savings Account (FHSA) explained If you or someone you know is saving for a down payment on their first home, the Federal government announced a new program aimed at first-tim

  • May 4, 2022 @ 5:30 PM
  • Posted by Roar Admin

How is a Private Mortgage Different Than a Traditional Bank Mortgage

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate

  • April 13, 2022 @ 4:48 PM
  • Posted by Roar Admin

Bank Of Canada Rate Update April 13, 2022

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼%