News

Fixed vs Variable? Here’s my take for today’s market

Coaching variable-rate mortgage clients is what I have done for over a decade. I’m an advocate of the floating-rate product and its benefits, and over the years, hundreds of my clients have saved tens of thousands of dollars in interest costs and cut years off their amortization—the length of time

Keep Reading [...]
Today’s Bank of Canada Rate Announcement

Just a quick note on today’s Bank of Canada Announcement.  The Bank of Canada increased the key rate from 0.25% to 0.5%. Some lenders are starting to change their prime rates by 0.25%, to 2.7%. We will monitor the amount of the increase to Prime and how it will impact mortgage

Keep Reading [...]
All smoke and no fire

The Bank of Canada kept its trendsetting interest rate at rock-bottom levels on Wednesday, holding off on planned increases aimed at controlling surging inflation.The central bank’s overnight rate remains at 0.25%, a rate it adopted in a drastic drop in the early days of the COVID-19 pandemic.The move is in

Keep Reading [...]
How to Apply for a Mortgage in Milton, Ontario

When learning how to apply for a mortgage, there is no difference if you are a first-time homebuyer or preparing to move from an existing property. You have a daunting task, and there are lots of choices available when searching for a mortgage broker in the Milton, Ontario, area. So

Keep Reading [...]
Stricter Stress Tests Coming For New Mortgages

Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage. The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday May 20th, 2021 that it will move ahead with its stress test changes first announced last month, which will apply to

Keep Reading [...]
Central Bank Announcement Last Week

Last week, the Bank of Canada made its third interest rate decision of 2021 and presented projections for inflation and growth in the economy. The announcement came just as Statistics Canada reported that the consumer price index was higher by 2.2% year over year in March and as speculation ramped

Keep Reading [...]

Send A Message Connect with a Mortgage Winner