Even with last week’s rate increase from the Bank of Canada, the spread between fixed and variable is still around 1.40%, which is larger than it has been in years. While multiple rate increases are still expected in 2022, the large spread gives you additional cushion to protect variable rate holders against rising rates.  More [...]

In their 2nd scheduled rate announcement for 2022, the Bank of Canada confirmed this morning that they will be increasing their key policy rate (overnight rate) by 0.25%. The last time they increased their rate was on October 24, 2018. Today’s increase affects anyone with a variable rate or a HELOC (Home Equity Line Of [...]

If you’ve been shopping for a new home, then you have already experienced the craziness of the red-hot real estate market firsthand. You see home after home, and are continuously outbid. Your frustration grows as you see your dream home slip through your fingers time and time again. With so few listings, the market is [...]

Whether you are a first time homebuyer, or someone who has been through the process many times before, purchasing a new home can be an exciting experience. The excitement can however turn into a nightmare, so it’s important that you have an understanding of how the mortgage approval process works. This can help prevent any [...]

It’s no big secret that the Bank of Canada will be increasing their key policy rate (overnight rate) multiple times in 2022. What we don’t know is when or how often it will occur. With all the talk about rate increases, many are asking if they should be choosing a fixed rate, or ‘locking in’ [...]

One of the most common questions we get from our clients is whether they should be choosing a fixed or variable rate mortgage. With all the talk about rising rates, it can be enough to scare anyone into locking into the certainty of a fixed rate. I’m hearing more and more people telling me that [...]

Ever since the US Fed hinted that they are expecting to raise their rate sooner than expected, there has been increasing speculation that the Bank of Canada would increase their rate on their next scheduled rate announcement which came on January 26th. In fact, economists were predicting a 70% chance of a rate increase on [...]

Upward pressure on fixed mortgage rates builds as bond yields continue to rise. They have been trending upward since the US Federal Reserve announced that they are expecting to raise rates by as much as three times in 2022, which was back in mid-December. Many economists are now predicting this will increase to four times.  [...]

In the last scheduled rate announcement from the Bank of Canada on December 8th, they held true to their projection on holding their overnight rate steady until sometime in the middle two quarters of 2022.  The US Federal Reserve has since hinted that they may have to raise their rate sooner than anticipated due to [...]

It’s hard to believe that it’s 2022 already. Such a futuristic sounding number, yet still no flying cars. What gives?  For those who have been following my blog over the years, you may recall that I always start off my first blog of the year with the same joke. Yes, the same one. It just [...]