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On June 5, 2024, Bank of Canada slashed interest rate by 0.25% for the first time in 4 years. It currently sits at 4.75% and homebuyers expect the rate to continue dropping over the next couple years. With this hope, some are considering a 3-year mortgage over the Canadian norm of 5-year mortgage term. If […]

On June 5, 2024, the Bank of Canada (BoC) announced a slight but significant cut to its benchmark interest rate, reducing it by 0.25% to 4.75%. This is the very first cut since the early days of the pandemic, which can be a potential turning point in the country’s fight against inflation. Several factors contributed […]

If you’re planning to step into commercial real estate, planning matters the most because that will directly impact how your business grows. While the concept of commercial mortgages is similar to residential mortgages, you are subject to more scrutiny by lenders. They are also subject to higher interest rates since lenders term it risky, so […]

Unaffordability in Canada has reached its peak. Millennials and GenZ have struggled with the idea of ever becoming homeowners because of rising inflation, exorbitant high real estate prices, and ever-increasing mortgage rates. Among all this, there’s a sliver of hope – Canadian Renters’ Bill of Rights.  Canadian Prime Minister, Justin Trudeau, announced this bill on […]

Did you know almost 80% of homeowners in Canada are up for a renewal in 2024? If your mortgage is up for renewal too, you probably know you’ll be paying more interest on the loan than you did before. While it won’t be fun giving extra money away, it needs to be done. We hope […]

Since July 2023, the Bank of Canada has not increased or decreased interest rates. Considering this stabilization, many are debating whether it’s time to get a variable mortgage and hope that the rate drops down in the next couple years. If you are considering a property investment in the next few months, here’s some information […]

When it’s time for mortgage renewal, many homeowners simply sign the renewal offer from their current lender without considering their options. If you’ve been consistent with your mortgage payments all this time, you can negotiate better terms and even a lower interest rate! Whether it’s seeking a lower interest rate, adjusting the payment schedule, or […]

As we approach the end of 2023, many Canadians are wondering when mortgage rates will start to decrease. This year has seen a significant rise in rates, with an increase of 75 basis points. Currently, the target rate is set at 5%, and it’s expected to remain there for the rest of the year. Around […]

When you decide to buy a home in Canada, you’re not just investing in property; you’re taking on the responsibility of maintaining it, protecting it, and ensuring its financial viability. When it’s time to sell, you expect a certain return on your investment. Mortgage insurance plays a crucial role in that last part. It might […]

During the pandemic, record low interest rates led to a massive spike in real estate demand. Following that, interest rates shot up to levels unfamiliar to an entire generation, making it challenging for mortgage holders to keep up with the ever-changing landscape. And, according to the latest reports, interest rates are expected to stay higher […]