Important week for mortgage rates could cost or save you thousands. Oct 31st

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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How to Read Your Credit Report + MORE Jun 1st

Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
 home equity

Bank of Canada Leaves Interest Rate at 1.75%, Markets React + MORE Jan 23rd

As was widely expected, the Bank of Canada left the target overnight rate unchanged this morning at 1.75%, where it’s sat since October 2018. The Bank noted a few positive developments, but focused more on the downside risks. “The global economy is showing signs of stabilization, and .... More »
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The Latest COVID-19 Mortgage Developments: Rates on the Rise + MORE Mar 23rd

Mortgage Rates Rising Rapidly Canada’s Real Estate Market Faces Uncertainty Call to End to Open Houses Mortgage Payment Deferral Challenges Filogix’s Expert Victim of Ransomware Attack Mortgage Rates on the Rise Banks and other mortgage lenders have been frantically raising rates since last week.... More »

The Latest in Mortgage News: 2020 Forecasts + MORE Jan 2nd

Following a challenging 2018, by most accounts 2019 could be characterized as a “turnaround year” for Canada’s housing market. And 2020 is looking to bring much of the same. That’s according to predictions for the new year by CMHC, the Canadian Real Estate Association (CREA) and .... More »

Latest in Mortgage News: Homeownership Becoming a “Pipe Dream” for Millennials Dec 9th

A growing number of millennials are resigning themselves to the fact that homeownership may be out of reach for them, according to a new poll. Nearly three quarters (72%) of millennials say they have a goal of owning a home, but nearly half (46%) admit that goal is a “pipe dream,” accord.... More »
Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a greater than average number of real estate transactions.  We also saw consumers taking advantage of these low rates by refinancing their mortgages early.
The Five-Year Government of Canada bond yields have been going up and down like a yo-yo over the last three months, with a low point being 1.13% and a high of 1.58% just this past week. This uncertainty/volatility forced financial institutions to raise their interest rate by about .2% to .3%.  Having said that, interest rates are still very low. In my discussions with the major lenders, they are all telling me that it’s busier than usual for home purchases and refinance purposes.
The longer-term forecast is still for rates to come down in 2020 and 2021. Historically, October has been a volatile month for stock markets, with many of the biggest drops occurring in October…

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