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...
Blog Articles
4 Reasons Why Real Estate is a Good Investment
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...
Predicting 2021 Mortgage Rates
If 2020 has taught us anything, it’s that things don’t always turn out the way we may expect. Making predictions for 2021 mortgage rates in the middle of a pandemic may be unwise due to the surprising twists and turns we have faced as a collective thus far, but I’ll...
5 Tips For Buying Your First Investment Property
Buying a rental property is a good investment for your future and a way to generate monthly income. Before purchasing your first investment property, it’s necessary to be aware of what you’re getting yourself into and how you can best navigate any obstacles that lay...
Mortgage Financing and Real Estate Investing
It is widely accepted that Canada is a great place to invest in real estate. It is a way to generate monthly rental income and also to build wealth over time through increases (appreciation) in the real estate market. What makes real estate very different from many...
Fixed Vs. Variable Rate Mortgage – HW Advantage
The two main types of mortgages in Canada are Variable and Fixed. With a fixed-rate mortgage, your interest rate (and payment) stay the same throughout the term (i.e., 5-years fixed). Whereas with variable-rate mortgages, your interest rate (and payment) can fluctuate...
Selecting the Suburbs Over the City This Fall
2020 saw the beginning of a worldwide pandemic, and with it came the halt of regular life and the beginning of a new normal. For many Canadians, this new normal meant saying farewell to commuting to the office in favour of working-from-home. With the fall months...
5 Tips To Keep Your Credit Score High In 2020
The global pandemic has caused unforeseen financial turmoil for many Canadians. We have all been staying at home and, many of us have experienced layoffs and pay cuts. If you are interested in purchasing a home this year, it is especially wise to spend some time...
Getting a Mortgage During COVID 19
So much has changed over the past several months that it should be no surprise that getting a mortgage has also changed. Even with the economy reopening, mortgage lenders are becoming shy about qualifying new mortgage applications. Record-low mortgage rates and the...
Tips for Getting Approved When You Are Self-Employed
Year over year we see an increase in the total number of self-employed Canadians. In 2020 it was expected that nearly 20% of the workforce would make their primary source of income from self-employment. Introduce in a global pandemic, rising unemployment, an economy...
Managing Your Mortgage During COVID 19
This has been a trying time both emotionally and financially for many people who may have seen their income reduced or eliminated entirely as a result of the COVID 19 pandemic. Mortgages are often the largest bill you have to pay each month, and therefore can be...
Now There is Less to Stress About the Mortgage Stress Test
What Changes to the Minimum Mortgage Stress Test Rate Means to Potential Homebuyers Getting a mortgage in Canada is about to get a little bit easier when the Department of Finance’s criteria for mortgage approval (the mortgage stress test) changes in April. This is...