Mortgage Tips: Current Rates & Qualifying Amounts

Posted On Jan 04, 2023

Today's 5 year fixed rates range from 4.79%-5.24%, depending on the type of mortgage (purchase vs. refinance) and whether it's insured/high ratio or uninsured/conventional, and the length of amortization. This makes the avg 5 year fixed rate...

Mortgage Tips: Generating Wealth Through Rental Properties

Posted On Dec 31, 2022

Did you know you can use the equity from your rental property for things such as; buying another property, paying off debts (i.e. credit cards, car loan, etc.), investing in other portfolios, or simply putting cash in your pocket?  There can also...

Mortgage Tips: Bank of Canada Raises Overnight Rate by 50 Points

Posted On Dec 07, 2022

At 10am this morning (Dec 7, 2022), the Bank of Canada raised its overnight target rate by 50 basis points, bringing it to 4.25%. This mean banks and other financial institutions are expected to raise their Prime Rate in the coming days to 6.45%,...

Mortgage Tips: Understanding Interest Rates

Posted On Nov 22, 2022

It is important to understand that Fixed rate and Variable rate mortgages are based on different "money markets". When the news/media says the Bank of Canada is raising rates, that change will directly impact Variable rate mortgages and Lines of...

Mortgage Tips: 3 Tips To Help Save Money

Posted On Nov 08, 2022

3 TIPS TO HELP SAVE MONEY!1) PLAN YOUR BUDGET- Physically writing your monthly income and expenses shows exactly where your money is being spent- Keep ALL bills/receipts for the next 3 months to track your expenses (mortgage, groceries, gas,...

Mortgages: Then & Now

Posted On Oct 28, 2022

I took a look into a cost comparison of home prices, mortgages and incomes in 1992 vs 2022 to help get a perspective on the current economic climate that young homeowners are facing now vs then....it is quite staggering.*This chart is for...