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.”…
Canada’s mortgage market finished the last decade in quite the way! From the plunge in interest rates, to the late-year surge in mortgage growth to the growing influence of online discount mortgage lenders, it was a year of milestones. This year will probably have its own twists. But what do experts think might happen? Here…
Looking for a new home is not easy. Getting the money for it is even harder. The process to getting that money is long; and difficult. That’s why most first-time homebuyers need a bit of help to find their new space. A real estate agent can help with the easier part; and that’s where we…
Hello again, everyone! We hope your new decade has been off to a great start. To wrap up January, we thought we’d go back to some of the basics of what we really do and remind you of the types of mortgages that are around! The homebuying process is far from simple, in part because…
In Canada, you need a minimum of 5% as a down payment when you purchase a home under $500,000. That means that on a home costing $500,000, you’d need at least $25,000 down. It’s not little! But between paying for rent and the cost of living, it can feel extremely difficult to save up that…
