The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.
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Understanding a Spousal Buyout Mortgage
If you’re going through or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property and buy out your ex-spouse.
Continue reading →Mortgage Options for Older Canadians
Although it’s ideal to have your mortgage paid off by the time you retire, that isn’t always possible in today’s economy. The cost of living is considerably higher than it has ever been, and as a result, many Canadians are putting off retirement, hoping to make just a bit more money to add to that nest egg.
Continue reading →Can you Trust Online Mortgage Calculators?
You’d think an online calculator is a pretty straightforward device, one that you should be able to place your confidence in, and for the most part, they are.
Continue reading →Protect Your Credit Through a Divorce
Divorces are challenging as there’s a lot to think about in a short amount of time, usually under pressure. And while handling finances is often at the forefront of the discussions related to the separation of assets, unfortunately, managing and maintaining personal credit can be swept aside to deal with later.
Continue reading →Understanding your Employment Status
Chances are if you’re applying for a mortgage, you feel confident about the state of your current employment or your ability to find a similar position if you need to. However, your actual employment status probably means more to the lender than you might think. You see, to a lender, your employment status is a strong indicator of your employer’s commitment to your continued employment.
Continue reading →Bank of Canada Rate Announcement Oct 27th, 2021
Bank of Canada maintains policy rate and forward guidance, ends quantitative easing. The Bank of Canada today held its target for the overnight rate at the effective lower bound
Continue reading →Difference Between Deposit and Downpayment
If you’re new to the home buying process, it’s easy to get confused by some of the terms used. The purpose of this article is to clear up any confusion between the deposit and downpayment.
Continue reading →Using an RRSP for a Home Purchase
Did you know there’s a program that allows you to use your RRSP to help come up with your downpayment to buy a home? It’s called the Home Buyer’s Plan (or HBP for short), and it’s made possible by the government of Canada. While the program is pretty straightforward, there are a few things you need to know.
Continue reading →If You’re Looking to Sell Your Property, Start Here
If you’ve been thinking about selling your existing property, for whatever reason, it would be in your best interest to connect with an independent mortgage professional before calling your real estate agent or listing it yourself.
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