Mortgages in Canada

Eligibility for a mortgage:  Traditionally to get a mortgage in Canada we go to a bank for mortgage approval. However, a mortgage broker can be visited to review all your options that you have for a mortgage at once, instead of visiting banks one by one. Credit...

When is a Variable Rate Mortgage the Smart Choice?

These sequential interest rates hikes are spelling trouble for fixed-rate mortgage holders, about 47% of whom have mortgages up for renewal in 2018. According to RateHub.ca’s historical mortgage rates, the lowest interest rate for a five-year fixed rate mortgage in...

New rules make mortgages easier for self employed

(Special) – Getting a mortgage is, and has been, challenging for self-employed Canadians for many years due to the fact that their incomes tend to be low and often sporadic and fluctuating. In many cases, they will have to take mortgage insurance in order to get the...

Bank of Canada maintains overnight rate

The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. CPI inflation moved up to 3 per cent in July. This was higher than expected, in large part...

When Refinancing Makes Sense

Thinking about refinancing your mortgage? If you’ve been wondering if refinancing your mortgage is the right decision for you, you are not alone. Many homeowners are often unaware or unsure of when it may be financially beneficial to refinance. When considering if...