The Bank of Canada Hiked Rates The Full 50 bps The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 4.25% and signalled that the Council would “consider whether the policy interest rate needs to rise further to bring supply and demand back into […]

Planning to Sell Your Property. Whether you are upsizing or downsizing, or selling a rental property, there are a few things to keep in mind throughout the process: Is Your Mortgage Really Portable? Porting a mortgage involves porting the terms of your existing mortgage to the new property to avoid a penalty and to maintain […]

Funding Retirement – Your Property Can Help. Aside from potential income from renting out part or all of a property, mortgages can supplement income in retirement.  While it’s true qualifying for a mortgage can change as we age, a bit of planning up front can help, just before leaving your prime earning years.  If you […]

 The Market, What’s to Come, Mortgage Options and Opportunities With this year’s steep increases in interest rates, and as the real estate market has slowed, most are wondering when things will begin to normalize.  What caused these conditions?  What’s to come as we move ahead? And what choices and opportunities might we have today as […]

Mortgage Protection Plan (MPP): Lastly in our insurance series, we look at mortgage protection plan coverage.  This is optional coverage, but should be a priority when purchasing property. The purpose of this coverage is to protect your investment, and cash flow, should you or your co-borrower be unable to work due to illness or an accident, […]

Title Insurance: Another insurance policy mortgage borrowers will encounter is title insurance.  Banks require title insurance to protect their interests should issues arise with how the property is registered, or fraudulent activity calling ownership into question. As a property owner, you have the option of purchasing this for yourself as well.  Title fraud typically involves stolen […]

The Bank of Canada Slowed the Pace of Monetary Tightening The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings […]

This week in our Insurance Primer Series, we’re looking at property insurance.   Home (Property & Fire) Insurance: Home insurance, as most people know it, must be in place before you complete your mortgage transaction whether you’re buying a property or refinancing it.  Not all homes or properties are insurable, so if you don’t already own the […]

Part I: Default Loan Insurance The four main insurance product options you will encounter through the mortgage process are often confused for each other, and not all are relevant for every property owner: Default Loan Insurance, Home Insurance, Title Insurance and Life/Disability Insurance.  This week we’ll review default loan insurance. Default Loan Insurance: First time home […]

Most people thinking about transferring or switching their mortgage want to take advantage of a lower interest rate or to get a new mortgage with terms that better suit their needs.   Up for Renewal? If your mortgage is approaching renewal and you are considering a transfer or switch – great news! You won’t be […]