Refinancing your mortgage can significantly reduce your interest rate, lower monthly payments, or shorten your loan term. However, understanding when and how to refinance is crucial to maximizing the benefits. Moreover, restructuring your mortgage to align with new goals and life changes can bring the biggest value. Refinancing purely to save on interest […]

  Mortgage renewal time provides many opportunities to save and align your mortgage terms with your short and long-term plans.  Leaving yourself enough time is essential to make the most of the options to give yourself the most flexibility possible, and to grow your net worth.   Opportunities at Renewal Time You have many options […]

      The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.6% in May, remaining slightly below the average of the past ten years. Actual (not seasonally adjusted) monthly activity was 5.9% below May 2023. With the Bank of Canada rate cut on June 5, housing activity will likely perk up […]

  The Bank of Canada has cut the overnight rate for the first time in four years, a welcome relief to borrowers nationwide.  The prime rate, which sits at 2.2% above the overnight rate, will subsequently drop from 7.2% to 6.95%.  Variable and adjustable rate borrowers, as well as borrowers with Home Equity Lines of […]

    The Consumer Price Index (CPI) rose 2.7% year-over-year (y/y) in April, down from 2.9% in March. This marks the fourth consecutive decline in core inflation. Food prices, services, and durable goods led to the broad-based deceleration in the headline CPI. The deceleration in the CPI was moderated by gasoline prices, which rose faster in April […]

  Though it’s a great idea to review your mortgage each year, there is never a better time for a mortgage review than in the year leading up to your renewal. Take advantage of this point in your mortgage; your wallet will thank you.  Here’s why: Get a Better Rate: Explore other lenders for preferable […]

    Today, the Bank of Canada held the overnight rate at 5% for the sixth consecutive meeting and pledged to continue normalizing its balance sheet. Governor Macklem confirmed that inflation is moving in the right direction, labour markets are easing, and wage pressures appear to be dissipating. In today’s release of the April Monetary […]

  Amortization can be viewed as the time it will take you to repay your mortgage without making extra payments.  It can be adjusted to increase or decrease your mortgage payment and interest due.  Mortgage payments are calculated by spreading out the repayment of the mortgage amount at a certain interest rate over a specified […]

  When applying for a mortgage, one of the factors lenders review is your credit score.  Many prospective property owners don’t pay much attention to this metric until they begin a mortgage pre-qualification discussion. However, your credit score is one of the most important aspects of a mortgage application when it comes to maximizing your […]

    The Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from the 2.9% January pace and much slower than the 3.1% expected rate. Gasoline prices rose in Canada for the first time in five months, which led many analysts to forecast a rise in February inflation as seen in the US. However, […]