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Bank of Canada Maintains Rate

Posted On Mar 08, 2023

For the first time in a year, the Bank of Canada has left its overnight target rate unchanged, keeping it at 4.50%.This is the Bank’s first rate hold of this rate-hike cycle, which began in March 2022. The move was expected by markets.  The Bank...

Mortgage Tips: Bank of Canada Pressing Pause

Posted On Mar 07, 2023

The next rate announcement from the Bank of Canada (BoC) is tomorrow, March 8. The consensus is there will be a pause on any rate increase at this announcement. This article by Reuters (click here) sheds some hopeful light on our current economic...

Mortgage Tips: Knowing Your Monthly Expenses

Posted On Feb 17, 2023

It's nothin' fancy...but it works! My wife and I use this "monthly budget" chart at home. Every 6 months or so we sit down and physically write out our living expenses to see where the hell our money is going discuss areas that we can...

Posted On Feb 15, 2023

Are you selling and buying a new home?  Have you written out the expenses associated with this? This is essential to ensure there's enough funds to do what you want/need on the new purchase.  Here's an example of estimates I do for...

Bank of Canada Raises Key Interest Rate by 25 bps

Posted On Jan 25, 2023

The Bank of Canada has raised its overnight target rate by 25 basis points, bringing it to 4.50%. This is the Bank’s eighth consecutive rate hike and was expected by markets. Looking ahead, the Bank of Canada said it "expects to hold the policy...

Mortgage Tips: Income Tax for Self-Employed

Posted On Jan 24, 2023

Income tax time is coming!! - Are you self-employed? - Are you applying for a new mortgage in the next 6-18 months? I recommend consulting with a Mortgage Broker to help determine what income you need to verify on your taxes to qualify for the BEST...