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Posted by: Adam Sale
I want to share a success story demonstrating how the recent mortgage-rule changes epitomize the popular saying, “Date the Rate, Marry the Home.” The Challenge: The client is self-employed earning roughly $100k in revenues, but their net income is around $65k. Due to the lower net-income, higher interest-rate and even higher stress-test rate, we had to […]
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I’d love to share with you a unique scenario highlighting our specialty at Sale Mortgages in transforming challenging financial situations into success stories! Client Story: Overcoming Financial Hurdles Recently, we assisted clients looking to downsize their home to better manage their finances. They faced some significant challenges, including: Bridge Financing: They needed to secure financing to cover […]
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2025 Predictions – Interest Rates, Housing, Immigration & Tin-Foil Hats First of all, I’d like to wish you a very Happy New Year, let’s make 2025 your best year yet! I’d like to start a new tradition this year by making some bold predictions. At the start of next year we’ll revisit these predictions and […]
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National Bank of Canada Wins the Bank of Canada Rate forecast! Early in 2024, National Bank had the most aggressive rate forecast, expecting the Bank of Canada to reduce the overnight lending rate 1.75% by the end of 2024. Thanks to today’s rate announcement by the Bank of Canada, they were the only lender with the correct prediction. Now, […]
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Your Buying Power Increased by 9%! If you are thinking about purchasing or selling your home in the next year, you need to understand the importance of the upcoming CMHC policy changes. As of December 14, 2024 – First-time homebuyers purchasing with a down-payment less than 20% will see their purchasing power increase by approximately 9.00% due to the […]
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Accelerate Your Net Worth! Now that you own a home, and you’re making regular payments on your mortgage do you have a financial plan to grow your Net Worth efficiently? In this blog, I’ll highlight 3 competing options to help you Accelerate Your Net Worth! Keep in mind, each of these options has a different […]
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Massive Switching Opportunity & Is 2025 the Right time to Buy? The bank’s don’t want you to find out about this.. If you purchased a home, or renewed your mortgage, in 2023 and you have a fixed-rate above +5.70% with at least 2-years left on your mortgage term, you are paying to much. To see if this opportunity applies to your mortgage, […]
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Big Changes for ALL Mortgage Holders: More Competition & Better Savings! Last week Canada’s Banking regulator (OSFI) announced they will be removing the stress-test on ALL mortgage renewals as of November 21, 2024. The stress-test has been the main culprit in hand-cuffing many mortgage holders to their current lender. The old rules require anyone switching mortgage lenders to requalify […]
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Breaking News: Massive Policy Change for First-Time Home Buyers 30-Year Mortgages & $1.5-million Purchases Every so often the federal government makes a massive policy change to influence Canada’s real-estate market. In 2017, the government brought in the stress-test. This essentially threw a wet-blanket on a hot real-estate market. It helped end runaway housing prices, and […]
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Is it better to go with a Fixed Rate Mortgage or a Variable Rate Mortgage? The Bank of Canada’s decreased the Prime Rate for the 3rd time last week, which is re-igniting the question above. Over the past 24-months, the 3-yr fixed-rate has risen in popularity over the 5-yr Variable rate and the 5-yr fixed […]
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