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Bank of Canada Rate Announcement July 11th, 2018

Bank of Canada Rate Announcement July 11th, 2018

The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in...

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Housing Market Insight | June 2018 Report

Housing Market Insight | June 2018 Report

If you've ever wondered about what motivating factors are considered by Canadians, driving them to buy homes, here is a recent report released by the Canadian Mortgage and Housing Corporation (CMHC) that takes a look at our major metropolitan centres. Here are some of...

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Online Mortgage Calculators, Can You Trust Them?

Online Mortgage Calculators, Can You Trust Them?

You'd think an online calculator is a pretty straight forward device, one that you should be able to place your full confidence in, and for the most part they are. Calculators calculate numbers, the numbers are reliable, but how you interpret those numbers... not so...

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Can I Get A Mortgage With No Downpayment?

Can I Get A Mortgage With No Downpayment?

The simple answer to this question is no. In order to secure mortgage financing in Canada you have to come up with at least a 5% downpayment. Now, if you haven't set aside the 5% for a downpayment in your savings account, that is okay. There are still a few ways to...

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A Conversation About Mortgage Pre-approvals

A Conversation About Mortgage Pre-approvals

Thinking of buying a property, but don't know where to start? Well... that's where a mortgage pre-approval comes in. Start here. Just like you wouldn't go into a restaurant without having enough money to buy your meal, so you shouldn't start shopping for a home...

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As Simple as Porting Your Mortgage!

As simple as porting your mortgage! Said by no one ever. The truth is, there is nothing simple about porting your mortgage.  "Porting your mortgage" involves transferring the remainder of your existing mortgage term, outstanding principal balance, and interest rate to...

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The State of Mortgage Consumers

Mortgage consumer debt reached a record level in the second quarter of 2017, yet mortgage holders have proven capable of managing their increasing monthly obligations. That’s according to CMHC’s recently released Mortgage and Consumer Credit Trends report, which said...

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Latest Mortgage Stats | 2018

There have been a number of reports released over the past few weeks that have provided some interesting insight into the state of the housing and mortgage markets. New reports have touched on everything from 2018 renewal rates, foreign buyer statistics and credit...

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How Interest Rates are Like Gas Prices

Have you ever noticed that just like gas prices, interest rates seem to go up and down for no reason at all? How come it feels like right before you are ready to buy a property, rumours of interest rate changes will start to flood the media? Or why do gas prices...

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The Benefits of Consulting a Mortgage Broker

Navigating the real estate and mortgage processes with the help of an expert mortgage broker can help set your mind at ease when making one of the largest financial decisions of your life.Mortgage brokers negotiate with lenders on behalf of borrowers daily, so they...

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Buying Your First Home in Canada

What Newcomers Need to know! The reason I have a blog and share information is to educate my clients and prospective clients about mortgages. Obviously there is a lot to know about mortgages, financing, and buying property, and there are a lot of great ways for me to...

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What’s Driving Canadian Homebuyers?

Mortgage rule changes and increasing interest rates—surprisingly—weren’t the top motivators for prospective homebuyers in 2017, according to a new survey from the Canada Mortgage and Housing Corporation (CMHC). Instead, the 2018 Prospective Home Buyers Survey found...

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