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What is Bridge Financing?

What is Bridge Financing?

Let's say you have a home that you've outgrown, it's time to make a move to something more suited for your family. You have no desire to keep two houses, so you decide that selling your existing home, and moving into something new is the best idea. Ideally, when...

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Don’t Assume Anything!

Don’t Assume Anything!

A lot of people get into hot water when they assume that because they've qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it's this: Don't assume anything when dealing with mortgage financing!...

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Bank of Canada Rate Announcement Oct 24th, 2018

Bank of Canada Rate Announcement Oct 24th, 2018

The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic outlook remains solid. The US economy is especially robust and is expected to...

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I Missed a Credit Card Payment… Now What?

I Missed a Credit Card Payment… Now What?

If you've missed a payment on your credit card (or line of credit) and you're wondering how this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue balance on any of your credit cards at this...

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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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