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.  […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

  What is the First Home Savings Account (FHSA)? The First Home Savings Account is a type of registered savings plan for Canadians saving to buy their first home. Canadian residents aged 18 years or older can open an FHSA to save towards the purchase of a home in Canada. You can contribute $8,000 annually up to […]

When you first purchased your home, you most likely used a lawyer to complete the transaction. When you do your renewal or if you are considering refinancing, you may be able to complete the transaction without a lawyer, using First Canadian Title (FCT). Renewals If you decide to renew your mortgage with your current lender, […]

Buying a home is one of the largest investments you will ever make! In order to make your home hunting experience the best it can be, there are a few key mistakes to avoid and be aware of before you start your journey: Not Getting Pre-Approved: One of the most important aspects of buying a home […]