Bank of Canada’s mortgage ‘stress test’ rate climbs higher Central bank’s rate for deciding if you can afford a mortgage is raised 20 points to 5.34% CBC News · Posted: May 09, 2018 2:57 PM ET | Last Updated: May 9 A key interest rate used for mortgage stress testing moved higher on Wednesday, meaning it could […]

FIXED RATES ARE ON THE RISE. ARE YOU READY? With the Bank of Canada held rates steady this April, the same is not the case for the bond market, which impacts fixed rates. In every interest-rate market, there are many factors leading to an increase and we are hoping to provide a little bit of […]

SUBJECT TO FINANCING- A MUST! With most people who are new to real estate and looking for their first home (or possibly second), one of the most significant times is when your offer to buy is accepted by a seller. Unfortunately, that moment is quickly followed by stress, as not many people know what comes […]

THE FLEXIBLE DOWN PAYMENT PROGRAM One of the toughest challenges for homebuyers is being able to save money at the rate of property price increases. We know many high-income renters would like to be homeowners, but they’re just unaware of how to make the transition and are unable to save fast enough. There are several […]

4 SMART FEATURES THAT WILL BOOST THE VALUE OF YOUR PROPERTY People have a lot of different ideas on how they want their home to look. Some want a modern look while others like traditional cottages. But one thing that more and more people want is smart technology in their homes. This adds value and […]

WHICH REALTOR SHOULD YOU USE? Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 50 flavours and after you have contemplated, you opt for vanilla, just because […]

GETTING PRE-APPROVED FOR A MORTGAGE THIS SPRING Apparently, as per the weather experts, March has a lot of snowfall and surprisingly so does April! Hearing this on the radio gives you a wave of emotions: holy cow, oh great, I wonder how many vacation days I have left and when can I take down my […]

2017 was a year of change for the Canadian Mortgage Market. With the announcement of the B-20 guideline changes requiring all insured or uninsured mortgages to undergo stress testing. In addition, the removal of mortgage bundling and the continued rate rises from the Bank of Canada have led to significant changes in mortgage rates. This […]

KEEPING YOUR CREDIT SCORE HEALTHY If you haven’t seen your credit score, you’re not alone. Many of our clients don’t know about their credit score or even know what it is when we first meet with them. During our initial consultation, we go over your complete credit report with you. As an added bonus, we’ll […]

What you need to know before you renew your mortgage could save you thousands of dollars. Is your mortgage on your home or other properties maturing in 2018? Typically you will receive your mortgage renewal notice from your current lender 3-4 months in advance of the renewal date. Sometimes you may receive an offer for […]