1 million to 1.5 million and 30 year amortization changes

Posted On Dec 16, 2024

Increased insured mortgage capThe maximum price for insured mortgages has increased from $1 million to $1.5 million, opening the door for buyers in higher-priced markets like Toronto and Vancouver to qualify for high loan-to-value mortgage insurance...

Bank of Canada reduces policy rate by 50 basis points to 3.25%

Posted On Dec 11, 2024

The BOC cut down the policy rate to 3.25%.Factors that influenced BOC's decision included:Rising unemployment rate to 6.8%Lower economic growth than projected in the 3rd quarterSlowing business investment, inventories and exports. Source: https...

Winter Pre approvals can help you get ahead!

Posted On Dec 03, 2024

 A bright sunshine lies amidst the Canadian freezing winter. You can choose to take advantage of the slower cycle of the real estate industry now. Mortgage brokers; can dedicate higher level of attention towards you without the hot spring season...

Did you know? The differences between Credit cards, Line of Credit, Mortgages and a HELOC.

Posted On Dec 02, 2024

Money can be borrowed through various channels, some having more manageable interest and payment terms as compared to the others.To make an informed choice, be sure to find out what type of lending meets your borrowing needs:1)Do you need a revolving...

Higher bond yields could fuel a rise for fixed rates!

Posted On Nov 22, 2024

Canadianbond yields jumped 61 basis points in the last 2 months.Fixed mortgage rates generally follow the trend.US 10 year treasuries also continue to move higher, adding a further push towards higher Canadian mortgage rates.As a result if people...

CMHC groups cities into 3 types for mortgage arrears

Posted On Nov 19, 2024

Three distinct groups of cities emerge from CMHC's analysis:housing markets that may not go through sharp increases in mortgage arrearshousing markets that may go through sharp increases in mortgage arrearsa mixed group that deserves further...