7 Nov

The Secret For Getting The BEST Pre-Approval Rate

Mortgage Tips

Posted by: Adam Sale

Banks Don’t Want You to Know This Here’s a tip that can help save you hundreds, maybe even thousands of dollars. Fixed mortgage rates tend to increase before the Bank of Canada increases their interest rates. The reason for this is because fixed mortgage rates are determined by what happens in the bond market, and […]

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24 Oct

CPI Report, Inflation Rate and 2023 Mortgage Rates

General

Posted by: Adam Sale

Consumer Price Index, Inflation Rate and 2023 Mortgage Rates On October19, 2022 Stats Canada posted September’s data to the consumer price index (CPI), and updated the inflation rate. For the 4th month in a row, the Consumer Price Index posted results in-line with previous months, showing no significant gain. This decreased the inflation rate from […]

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21 Sep

How to Calculate the Inflation Rate

General

Posted by: Adam Sale

Inflation Data Released Today Great news today, this is the second month in a row the inflation data is showing the inflation rate decreasing. This is a step in the right direction, especially since we saw the Bank of Canada increase their overnight interest rate on September 7 by another 75 basis points to 3.25%. […]

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11 Aug

What is a 2nd Mortgage, and why are they so popular?

General

Posted by: Adam Sale

2nd Mortgages are rising in popularity Over the last 2 months I’ve had several conversations with homeowners interested in finding alternative ways to unlocking their home equity to either purchase a rental property, or consolidate debts. When rates were significantly lower last year it made sense for homeowners to refinance their property, take out equity, […]

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13 Jul

Key Points of Bank of Canada’s 1% interest rate increase

General

Posted by: Adam Sale

Key Points from Bank of Canada’s 1% Rate Increase As I’m sure you’ve heard by now, the Bank of Canada increased they’re overnight rate by 1%, this will increase the Prime interest rate to 4.70%. Below is a snippet of the monetary policy report & key points Tiff Macklem discusses the Bank’s strategy 10:55 – 14:20 […]

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29 Jun

How to get the Best Mortgage at Renewal

Mortgage Tips

Posted by: Adam Sale

Did you know you can shop various lenders when you renew your mortgage? You may be close to completing your first-term or finishing up your 2nd, 3rd or 4th term, but did you know that at your renewal period you can shop other lenders to find a more competitive offer? The 120-days before your renewal […]

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13 Jun

5% Fixed Mortgage Rates on the Horizon

General

Posted by: Adam Sale

Fixed Mortgage Rates Continue to Climb Fixed interest rates keep climbing and they are not showing any signs of slowing down. The bond yield determines the movement of fixed mortgage rates and as you can see from the image below the yield is increasing. As of last week, we broke through the 3% level and […]

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19 May

Mortgage Strategies for a High-Rate Environment

General

Posted by: Adam Sale

Mortgage Strategies for a High-Rate Environment Mortgage rates have risen sharply across all mortgage products and lenders. Identifying the correct strategy and opportunity between lenders will get you a fair mortgage rate without paying additional interest. Banks Vs Credit Unions – Over the last 4 months of heavy rate increases I’ve noticed the Big Banks are […]

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