Mortgage Tips: Current Interest Rates

Posted On Jan 03, 2024

Hello and Happy New Year!  It's time to shake off the Christmas dust and get back into the swing of things to make for a strong 2024!  Here's some info to keep you updated: Current best mortgage rates (O.A.C):Fixed rates range from 5...

Mortgage Tips: When and Why are Appraisal Needed?

Posted On Dec 19, 2023

Here's some examples of when and why appraisals are needed for a mortgage, and what lenders are looking for.WHY?- Confirm purchase price aligns with current fair market value - Assess property value and overall condition of the home, ensuring a...

Mortgage Tips: What is CMHC Insurance?

Posted On Dec 03, 2023

Canada Mortgage and Housing Corporation (CMHC) mortgage loan insurance is required when you purchase a home with less than 20% down payment. This insurance protects your lender in case you can't make payments. Benefits:- Allows a mortgage with...

Mortgage Tips: Current Interest Rates

Posted On Nov 15, 2023

Here's a quick update on what's happening with mortgage rates. Variable Rates: There's been talk that we MIGHT see a 0.25% drop in the Prime Rate as early as April 2024. This will impact variable rate mortgages and lines of credit. Â...

Mortgage Tips: How To Save During a Recession

Posted On Nov 02, 2023

Create a Budget: Tracking income and expenses is a simple and effective way to know where your money is going.Opt for Debit, Not Credit: Using your own funds rather than borrowing through credit allows you to stay on budget.Embrace Staycations: Enjoy...

Mortgage Tips: Bank of Canada Leaves Overnight Rate Unchanged

Posted On Oct 26, 2023

BANK OF CANADA ANNOUNCEMENT:To the relief of millions of Canadians, the Bank of Canada announced yesterday they're keeping the overnight rate status quo.After 10 increases since March 2022, the overnight rate stays at 5.00% for now. The Bank said...