Latest News Trish Pigott 23 Oct
As expected, the Bank of Canada cut the overnight target rate by .50%. The largest cut we have seen since the pandemic and well deserved for our Variable Rate Mortgage holders (including me) who have continued to ride out the past two years. Inflation and all economic data supported this rate cut. DLC’s own economist, […]
Read MoreLatest News Trish Pigott 25 Sep
Canada’s Bank Regulator Kills the Stress Test for Straight Switch Mortgages Shout out to Robert McLister Sep 25, 2024 5:49 PM ET for the details around today’s Breaking Mortgage News In a significant win for consumers, the Office of the Superintendent of Financial Institutions (OSFI) has kicked the stress test to the curb for straight […]
Read MoreMortgage Tips Trish Pigott 25 Sep
Paying off your mortgage faster in Canada can save you a significant amount in interest and help you become debt-free sooner. Here are the top 5 tips to achieve that: 1. Make Biweekly Payments Instead of making one monthly payment, switch to biweekly payments. This results in 26 half-payments, which equals 13 full […]
Read MoreGeneral Trish Pigott 4 Sep
Excellent news as we wrap up summer, the Bank of Canada (BoC) has cut rates again this morning by another .25%. This change affects Variable Rate Mortgage holders and anyone with loans attached to the banks Prime Rate. Lots of news today. Both in Canada and the US. Both the 5-year Gov’t of Canada bond […]
Read MoreGeneral Trish Pigott 24 Jul
Today the Bank of Canada lowered it’s Overnight Target rate to 4.50% offering a little bit more relief to Canadian consumers suffering under the weight of high mortgage rates and other borrowing costs. This puts us back to what the rate was in June 2023. Here’s a few quick highlights I have summarized from a variety of […]
Read MoreGeneral Trish Pigott 5 Jul
Financial Tips for Recent Graduates: Managing Money After School Ends Whether you are a post secondary graduate or a high school graduate, it’s never too early to gain financial knowledge to build a bright future. As a graduate, you’ve endured years of hard work, late-night study sessions, and perhaps a few too many instant noodles. […]
Read MoreGeneral Trish Pigott 12 Jun
Canadians are leaving money on the table by not negotiating their mortgage renewal rates. Why? Most likely because they do not have a professional representing them. In the face of higher costs more Canadians are changing their grocery shopping habits, hunting for bargains, and switching to lower-cost brands — yet many are leaving money on the table when it […]
Read MoreGeneral Trish Pigott 11 Jun
Calling all First Time Home Buyers! Did you know that as of August 1, 2024, you will be eligible for a 30 year Amortization when you have less than 20% down? Today the maximum time frame is 25 year amortization so this is a big help for affordability. The example below is based on […]
Read MoreGeneral Trish Pigott 5 Jun
From our partners at First National Financial, here is some insight on the Bank of Canada announcement and rate drop. Today, the Bank of Canada reduced its overnight policy interest rate by 0.25% to 4.75%. This welcome and widely expected decision comes on the heels of evidence pointing to a deceleration of the rate of […]
Read MoreGeneral Trish Pigott 4 Jun
Home owners and real estate and mortgage professionals have all been waiting patiently for the past two years for some relief in interest rates and June 5, 2024 may be our lucky day! Last Fridays reporting on GDP (gross domestic product) came in at a disappointing number for the Bank of Canada (BoC) at 1.7% […]
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