by Geoff | Dec 11, 2015 | Bank of Canada
Today Finance Minister Bill Morneau announced changes to down payment requirements. Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from five per cent to 10 per cent for the portion of the house price above $500,000. The...
by Geoff | Nov 27, 2015 | Bank of Canada
Have you ever wondered who the Bank of Canada is and what is its role in our economy? The Bank of Canada is the country’s central bank. Its role, as defined in the original Bank of Canada Act of 1934, is “to promote the economic and financial welfare of Canada. “ The...
by Geoff | Aug 13, 2015 | Bank of Canada, Economy, Finances, Market Updates, mortgage trends, Rates, Uncategorized
The incredible rise of house prices across Canada over the past few years may come as no surprise, but many home owners are sitting on a time bomb and nobody knows when it will explode; however, there has been a lot of talk of rising interest rates to help slow down...
by Geoff | Aug 11, 2015 | Bank of Canada, Economy, Finances, Getting a Mortgage, Mortgage Broker, Uncategorized
When looking for a mortgage you have two choices, mortgage broker or bank. Ask yourself is a broker or bank going to give you the best possible rates. This should be a big deciding factor when making the decision whether to use a mortgage broker or bank. If you use...
by Geoff | Jul 27, 2015 | Bank of Canada, Economy, Finances, Mortgage Broker, Rates
One of the biggest questions we receive is “What is better, variable or fixed interest rate?” The answer really depends on you! Here are some things to look at when considering a variable or a fixed rate: Risk – variable rates follow the Bank of Canada. When...
by Geoff | Apr 8, 2015 | Bank of Canada
We’re seeing extraordinary times in the mortgage industry – so what does that mean to the consumer who is just looking for a good mortgage deal? You’d have to have lived in a cave these past few months not to know we are going through extraordinary...
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