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Is a 2nd mortgage right for you?
If you currently own a house or condo, and have equity in the home, then you may be eligible for a 2nd mortgage. A second mortgage is really just another [...]
What To Do When Your Mortgage Is Up For Renewal and You Want to Purchase A New Home
You have a mortgage coming up for renewal, and you have plans to purchase a new home. What do you do with your current mortgage? This is a situation many find [...]
5 Things Your Bank May Not Tell You About Your Mortgage
With all the publicity about banks ‘duping’ their customers, it’s good to be informed on what to watch out for to ensure you aren’t choosing the short straw when it [...]
Where are Mortgage Rates Heading in 2019?
Back in the fall of 2018, there were strong predictions that the Bank of Canada would be increasing their overnight rate* at least two times in 2019. There was a solid chance [...]
The First Interest Rate Announcement of 2019
It's hard to believe that 2019 is now among us. A new year brings another year of fun in the world of mortgages! At least, that's how I look at [...]
Will you Still Qualify for your Mortgage at a Higher Rate When it Comes up for Renewal?
5 year fixed mortgage rates have now risen by approximately 1.5% since late 2016. Rising rates mean higher payments, and higher payments mean that you will qualify for a lower mortgage [...]
This Morning’s Interest Rate Announcement
The Bank of Canada announced this morning that they will be maintaining their overnight rate, which means there is no increase to prime rate. This is exactly what was expected to [...]
Why Are Mortgage Rates so High Right Now?
As we move into December, fixed mortgage rates have now reached their highest levels since 2010. The big banks recently increased 5 year fixed rates to 3.94% to 4.04%, with [...]
Everything You Need to Know About Porting Your Mortgage
You are now 3 years into your 5-year fixed mortgage. Your family is growing and your current home no longer suits your needs. You’ve found a new home that would [...]
Locking in For A Longer Term to Protect Yourself Against Rising Mortgage Rates
It doesn't matter where you look these days, there is talk about rising mortgage rates. Prime rate has already increased by 1.5% since July 2017, with further increases expected. The [...]
Can you afford rising mortgage rates?
It’s no big secret that mortgage rates are on the rise and increases are expected to continue through 2019. But will you be able to afford payments at a higher [...]
This Morning’s Prime Rate Increase and What You Can Do About It
The Bank of Canada announced this morning that they will be increasing their overnight rate by 0.25%, which in-turn, increases prime rate by 0.25%.  This was no big surprise and [...]
Higher mortgage rates are coming… are you ready for them?
Since mid-2017, mortgage rates have been on the rise and 5 year fixed products have already increased as much as 1.50% since that period. I would love to be able [...]
How will the recent plunge in the stock market affect mortgage rates?
For anyone with active positions in the stock market, I feel your pain along with you. With such precipitous drops over a period of only a few days, it definitely [...]
How to save thousands when your mortgage is up for renewal
What most people will do when it comes to renewing their mortgage is simply sign the renewal documents and send them back to their bank, without so much as doing [...]
The Bank of Canada to continue its rate increasing rampage
Following a period of almost eight years without an increase to prime rate, the increase we saw back in July was the fourth in the past year. But is the [...]
Why a high credit score doesn’t necessarily mean you have great credit
While it’s great to have a high credit score, there is a lot more to your credit bureau than just score. It’s possible that you could have a high score, [...]
Mortgages getting harder to qualify for
As of Monday, May 14th, 2018, the minimum qualifying rate for mortgages increased from 5.14% to 5.34%. This will decrease the total mortgage amount you will qualify for. This started [...]
Is it smart to get a HELOC with your mortgage?
I have people coming to me regularly saying they would like to add a Home Equity Line of Credit (HELOC) to their mortgage. The first thing I’ll usually ask is [...]
What you can expect from the housing market in 2018
Hard to believe it's now 2018, and the new mortgage rules are now in place. So what does this mean for the housing industry? Â Anyone with a down payment of [...]
How The New Mortgage Regulations Will Affect You
There has been a lot of hype about the new mortgage regulations that are set to take effect on January 1st, 2018. Just about every new inquiry I have been [...]
This mornings interest rate announcement
The last two scheduled interest rate announcements by the Bank of Canada both reflected an increase to the overnight rate, which in turn has a direct impact on prime rate. [...]
More challenges facing potential home buyers
Late last year, a new stress test was implemented on all high ratio mortgages, that is, mortgages obtained from a purchase with less than 20% down payment.  This means that [...]
Another highly anticipated mortgage rate announcement
Following the last interest rate increase by the Bank of Canada on July 12th, it's been predicted that there will be at least one more rate hike before the end [...]
More increases to fixed mortgage rates coming?
Back in June, the Bank of Canada hinted that they might be raising prime rate on the next scheduled rate announcement date of July 12th. This alone was enough [...]