• Interest Rate Increase If you have not yet heard by now, the government increased the overnight rate yesterday by .25% to .75%. In turn, the banks have increased their prime lending rate by .25% to 2.95%.  This increase actually only affects [...]

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    Without question, the past few months in the mortgage industry have been challenging. There have been numerous changes that have completely altered the mortgage lending landscape. Here is a summary of the changes we have seen: 1) Stress Test: As [...]

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    Are you thinking of selling? You’d think it would be as easy as placing a “For Sale” sign on the front yard and waiting for the offers to roll in, but for most homeowners the process is a bit more complicated. Unless you keep your home in [...]

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    As you may have heard by now, the government introduced some important changes this week that will have a fairly significant impact on the mortgage industry going forward. The changes were not expected and seem to have come out of nowhere, with [...]

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    Any time I sign up new clients for a mortgage, we always spend a lot of time discussing property taxes. We come to the point in the meeting when the client has to decide to either pay the property taxes with the mortgage payments or on their own. 90%[...]

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    If you are currently selling your home, then you know importance of "curb appeal". There are a variety of ways to enhance the curb appeal of your home, whether you are selling or just want to make things look nice for the summer. HGTV put together[...]

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    Your credit score is a key element when applying for a mortgage. It is very important that you take care of your credit from the day you get your first credit card. Small credit issues can haunt people when trying to apply for a mortgage, even if [...]

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    I am often asked to explain why a client should choose to work with a Mortgage Broker (versus their bank, credit union, etc.). The simple answer (the one that we've all heard) is that a mortgage broker offers a variety of mortgage products from [...]

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    One of the biggest mistakes homeowners can make is not taking advantage of prepayment privileges associated with their mortgage. Most mortgage lenders will allow you the following privileges to pay down your mortgage quicker: Increase your [...]

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    Variable rate mortgages have been impacted by the two overnight rate cuts by the Bank of Canada so far this year. In total, the overnight rate has dropped by .50% (two cuts of .25%). The major banks have passed on some of those savings to customers [...]

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