by Citadel Mortgages | Jan 12, 2019 | Blog
The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic expansion continues to moderate, with growth forecast to slow to 3.4 per cent...
by Citadel Mortgages | Jan 8, 2019 | Blog
Shelter remained the largest budget item for households in 2017, at 29.2% of their total consumption of goods and services. Spending on transportation, the second-largest expenditure category, accounted for 19.9% of total consumption, followed by food expenditures at...
by Citadel Mortgages | Dec 4, 2018 | Blog
Debt Consolidation Main Reason for Mortgage Refinancing There are a variety of reasons why Canadian homeowners refinance their mortgage. Simply put, refinancing means renegotiating an existing mortgage loan agreement. This year, refinancers accounted for 15% of...
by Citadel Mortgages | Nov 25, 2018 | Blog
Millennials have made up a significant portion of homebuyers in recent years and based on the 2018 Mortgage Consumer Survey, they continue to do so, representing just under half (49%) of first-time buyer respondents. Although this is a decrease from 60% in 2017 and...
by Citadel Mortgages | Nov 14, 2018 | Blog
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...
by Citadel Mortgages | Nov 5, 2018 | Blog
DON’T GET DISTRACTED BY THE SHINY RATE IN THE WINDOW No seriously, rate IS NOT everything… here’s why: There’re many other features of a mortgage that have proven to be far MORE important. If you look deep in the fine print of every lending institution you...
