The Bank of Canada Cut Rates by 25 bps On Tariff Concerns

General Darla Nicholson 12 Mar

The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 2.75%, within the neutral range of 2.25%—2.75%. Tariff tremors have already led to a decline in consumer confidence and spending, a weakening labour market, and a decline in business investment. Compound that with falling […]

Read More

Tariffs and Trade War – What the Heck??

General Darla Nicholson 8 Mar

Trump has imposed tariffs of 25% on goods coming from Mexico and Canada, 10% on Canadian energy, and an additional  10% on goods from China. He justified these actions by claiming they would force Mexico and Canada to address issues related to undocumented migration and drug trafficking. However, while precursor chemicals for fentanyl come from […]

Read More

Interest Rate Update

General Darla Nicholson 1 Mar

As of March 1, 2025, mortgage rates in Canada have experienced notable shifts, influenced by recent economic developments and monetary policy adjustments. Bank of Canada Rate Cuts Between June 2024 and January 2025, the Bank of Canada implemented six consecutive rate cuts, totaling a reduction of 200 basis points. The most recent cut on January […]

Read More

What to do when you need to RENEW!

General Darla Nicholson 29 Jan

In 2025, a significant number of Canadian homeowners will face mortgage renewals, with over 1.2 million mortgages set to expire.   85% of these were initiated when the Bank of Canada’s policy rate was at or below 1%. Given the current rate environment, even with anticipated reductions, many borrowers will encounter higher interest rates upon renewal.  […]

Read More

New Gov’t Changes Make Home Ownership More Feasible

General Darla Nicholson 16 Sep

Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly younger generations, buy a first home, new mortgage rules came into effect on August 1, 2024, allowing 30 year insured mortgage amortizations […]

Read More

Things are looking UP, because rates are coming DOWN!

General Darla Nicholson 6 Sep

The Bank of Canada cut the overnight policy rate by another 25 basis points to 4.25%. This is the third consecutive decrease since June. The Bank’s decision reflects two main developments. First, headline and core inflation have continued to ease as expected. Second, as inflation gets closer to the target, the central bank wants to […]

Read More

Mortgage Concierge Service

General Darla Nicholson 9 Jul

Success is where preparation and opportunity meet. Welcome to our Professional Services Concierge Program.……reduced fee, customer-focused services merging proactive planning and reliable professional advice for greater client success. Sign up for free and receive personalized services saving you time and money with your mortgage.  It’s easy – provide me your mortgage statement, and I will […]

Read More

To Port or Not to Port??

General Darla Nicholson 2 May

Deciding whether to port your mortgage or get a new one depends on various factors such as your current mortgage terms, the terms of the new mortgage, your financial situation, your timeframe and your long-term plans. Here are some considerations to help you make your decision: PORTING YOUR MORTGAGE Interest rate: If your current mortgage […]

Read More

March’s Weak Jobs Report Sets the Stage For a June Rate Cut

General Darla Nicholson 5 Apr

Today’s StatsCanada Labour Force Survey for March is much weaker than expected. Employment fell by 2,200, and the employment rate declined for the sixth consecutive month to 61.4%.  Total hours worked in March were virtually unchanged but up 0.7% compared with 12 months earlier. The details were similar to the headline: as full-time jobs dipped, total hours worked fell 0.3%, and only two […]

Read More

The Reverse Mortgage

General Darla Nicholson 24 Feb

What do you think about reverse mortgages, now more commonly referred to as Home Equity Conversion Mortgages (HECMs)?  Do you believe you understand how they work?  I’m willing to bet if you read this article you will find you very much misunderstood this product. Reverse mortgages are the single fastest growing home finance product on […]

Read More
12