If you’re shopping for a new mortgage, you may read around a lot of scepticism concerning the variable-rate. Are they an unnecessary gamble? On the plus side, you may win for at least a year or two by taking the chances; but after that, it’s finger-nail biting time. Years 4 and 5 could prove very…
It’s no secret that the majority of 2020 has seen a seismic shift in how everything around the world operates. Most things have changed, and it feels like the pandemic has pushed a hidden reset button back at the end of March. The point of this blog, however, is to discuss matters within the real…
With already a difficult year in our hands, things have not been made better with tighter lending rules that came into force July 1st. Of course, that will make it harder for some Canadians to buy homes, but mortgage professionals say there’s no reason to panic 😉 The CMHC announced plans in early June to…
Also known as cliff vesting, it’s the process by which employees earn the right to receive full benefits from their company’s qualified retirement plan account at a specified date, rather than becoming vested gradually over a period of time. The vesting process applies to both qualified retirement plans and pension plans offered to employees. The CMHC’s CEO Evan Siddall…
It doesn’t really get easier with the real estate market during this pandemic. Less homes on sale, lower prices, and this latest to name a few! But what makes it more complicated with refinancing? They are uninsurable, so the lending risk sits squarely with the lenders; whereas purchase transactions facilitate changes of ownership, and the…
The 3rd month of 2020 was probably the strangest ever experienced in our modern history; and we’re not talking about strange weather here. The world we live in dramatically changed from one week to another, leaving many people and industries lost as what would happen next. Some interesting and useful interviews from the CREA, economists…
The crisis is still far from over and we are all trying to figure out the present and future of our economy – and a big part of that includes mortgages. If you’re currently a homeowner paying off a mortgage, you are just as concerned as us, the mortgage professionals. Thanks to our friends at…
The recent drastic change in our economic lives has meant that the big institutions, whether financial or other; has also had to adjust its business model! Fortunately, this is good news because they sympathize with the many affected economically. Some interesting comments were also made by economists and businessmen. Just after mid-March, the Bank of…
We hope your spirits are still up during this trying time – and certainly making the most out of staying at home and getting to know the contents inside those four walls better than you ever have! We believe this phase is a good time to clean up and fix anything you are able to…
We begin March with a much longer read, but hold on tight… it’s important and mostly good news! After a long ‘protest’ and waiting time, policy-makers are finally righting a wrong in the mortgage market! As of the 6th April, Canadians applying for default-insured mortgages will no longer have to go through the infamous “stress test.”…
