Mortgage Tips: Rate Increases

Posted On Oct 12, 2022

There's an estimated 0.50% increase to the Prime Rate expected on October 26 and likely another estimated 0.50% in January 2023. These projections are not guaranteed but based on mortgage and economic industry buzzword, this is the...

Mortgage Tips: Monthly Mortgage Payments

Posted On Sep 27, 2022

How Much Is A Monthly Mortgage Payment? Based on today's (September 27, 2022) current, average 5 year fixed rate @ 5.09% with a 25 year amortization, the monthly payment is as follows:$100,000 mortgage = $586.74/month$200,000 mortgage = $1,173...

Mortgage Tips: Bank of Canada Rate Update

Posted On Sep 14, 2022

As expected, the Bank of Canada (BoC) raised its Overnight Rate last week (September 7, 2022) by 0.75% to 3.25%. The BoC says further increases are expected as the fight against inflation continues. Supply chain issues and the war in Ukraine play big...

Mortgage Tips: Building Strong Credit

Posted On Aug 29, 2022

Want to know how to build good, STRONG credit?Use the 2-2-2 rule!2 trade/credit lines (i.e. credit card, line of credit, car loan, student loan, mortgage etc.)2 years of activity/utilization$2,000 (min) limit with 30%-50% balance paid in FULL every...