The latest news and tips

Refinance to payout debt

The debt-to-income ratio is in the headlines again. This time the ratio rose to 167.3% in the fourth quarter of 2016 compared to 166.8% in the third quarter. That means for every dollar of disposable income, consumers owe $1.67. Approximately 63% of that debt is [...]

By |August 25th, 2018|

Is Refinancing An Option?

To no one’s surprise The Bank of Canada has left its key interest rate unchanged at 0.5%. After reading the latest Monetary Report, it doesn’t sound like it will raise its policy rate any time soon.  Inflation is flat, as is wage and export growth, [...]

By |June 6th, 2018|

Why does an appraisal come in lower than expected?

Changes in mortgage rules for home buyers and insurers certainly have had an impact on the housing market, and those changes have impacted property appraisals as well. Typically, conventional mortgages – up to 80% of the value of the property – are required to have [...]

By |May 5th, 2018|

Do you know all the costs of buying a home?

Before you take possession of your new home, you need to consider any and all additional costs of obtaining your mortgage - closing costs.. Home inspection It is advisable to make an offer on a home conditional on the outcome of an independent home inspection. [...]

By |August 28th, 2016|

Use these saving tips to become mortgage free!

Good news! It only takes small changes for you to become mortgage free and save thousands of dollars in interest. In December, Mortgage Professionals Canada released its annual state of the housing market report and found that in 2015, 36% of homeowners took actions to [...]

By |August 28th, 2016|