interest rates written with a type writer.
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Mortgage News: Bank of Canada Cuts Interest Rates in June 2024 Update

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 […]
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a large white commercial buildings with lots of windows
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How Does Commercial Mortgage Work in Kingston?

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 […]
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a man and woman happily raising their hands while sitting on a couch with cardboard boxes in front of them

What is Canadian Renters’ Bill of Rights? Everything You Should Know About

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 […]
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two people shaking hands over a house model
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How To Get The Best Mortgage Renewal Rate in 2024? 

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 […]
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A person in a suit holding up a white board with the words fixed variable written on it

Is Variable Mortgage A Good Choice In 2024?

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 […]
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Mortgage renewal tips
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7 Tips For Negotiating Better Terms At Mortgage Renewal

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 […]
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A miniature house in a shopping cart with a downward trend(to show mortgage rates forecast) on a blue background.
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When Will Mortgage Rates Go Down in Canada?

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 […]
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A person reviewing details of mortgage insurance
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What Is Mortgage Insurance? Why Do I Need It? 

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 […]
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How Your Mortgage Payments Could Change with Ever-Increasing Interest Rates

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 […]
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A close-up view of the upper level of a house with windows and siding

When Is The Right Time To Refinance Your Mortgage? A Guide For Canadians

If you’re a Canadian homeowner with a mortgage, you’ve likely heard the term ‘refinancing’ being thrown around, especially in times of economic uncertainty or fluctuating interest rates. Refinancing your mortgage in Kingston can be an excellent strategy to lower your monthly payments, reduce interest rates, or access the equity in your home for much-needed expenses. […]
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