It finally happened. On March 2nd, 2022 the Bank of Canada raised the prime interest rate by 0.25%. This means that for people with a variable rate mortgage the cost of borrowing has started to increase from where it bottomed out at the start of the pandemic. However,...
Canada's inflation rate is now the highest since 2003. Rising inflation is often a signal that interest rates are also likely to increase. Higher interest affects business loans, car loans, credit cards, lines of credit, and of course, mortgage interest rates. But...
Most people will never borrow more money at one time than when they purchase a home. Getting a mortgage is a huge commitment. Depending on how much you borrow, the interest rate, and the amount of your down payment, your mortgage can change the course of your...
Taking the leap into buying a home is an exciting time for many. If it's your first time, you may still be learning the ropes - and there's a lot to know! How do mortgages work? Is a fixed-rate mortgage better than a variable rate mortgage? What is the mortgage stress...
According to reports, April 2021 saw the highest single-month increase in mortgage debt - ever. Canadians added almost $18 billion in new mortgages that month putting mortgage debt in Canada at an all-time high. Canadian homeowners now owe nearly $2 trillion to...
Overall, Canadians have more mortgage debt now than they have ever had. The pace of increase in Canadian housing costs has been news for a long time. Furthermore, in a recent survey, 75% of people who want to buy a home believe they cannot afford one and more than 70%...
Job Title: Operations and Administrative Assistant Employment Type: Full-time Job Location: Burlington and Area (Primarily work from home) Reports to: Harrison White - Director / Owner Date Posted: September 13 / 2021 Apply by: Email. Please include a cover letter...
Mortgage lenders are doubling down on capturing borrowers' attention with advertising on TV, radio and all over the web. Google 'mortgage rates in Burlington' just once, and for the next few months, you'll be targeted with offers for low-interest rates and easy...
For new home buyers, the variety of mortgage types and nuances of each can be bewildering. Choosing the right type of mortgage can impact your payments in the short term. It can also impact your future finances by adding or saving thousands of dollars in interest over...
If you're buying your first house in today's super-hot housing market, figuring out how much you'll need for a down payment can be a source of concern. As home prices continue to climb in most parts of Canada, it can be discouraging to know that as you save, you still...
As of June 1, 2021, changes to Canada's mortgage approval criteria have taken effect. The updated “Stress Test” is an effort by government regulators to cool a super-hot housing market by making it more difficult for homebuyers to qualify for a mortgage. The mortgage...
When interest rates are at historic lows as they are now, where can you find stable investments with a reasonable rate of return? Where can you find an investment that has the potential to pay a steady income or one that can generate a big impact with relatively small...
