Good news today with the Bank of Canada’s last announcement for 2023 and they have left the overnight target rate, which affects the Prime rate unchanged for the past 5 months.  Prime is currently at 7.20%. This means no rate or payment changes for Variable Rate mortgage holders.  Here’s a visual on what the BoC […]

Get to know the basics before you choose your mortgage. You must select the most important to you – lower rates or flexibility. Take some time to study mortgage types: Closed Mortgage: A closed mortgage is best if you want consistent rates. Interest rates are typically lower (and do not change with the length of […]

November is Financial Literacy Month, and we have the tips to ensure your financial game is on point this Fall as we head into the New Year! Nail Down Your Budget Understanding the basics of budgeting and tracking your income versus spending is fundamental to financial literacy and control. Building a budget can help you […]

Even though Fall has already started, there are a few things you can do still to ensure your home is well-prepared for the season: Examine Your Gutters: This time of year it is important to clean and inspect your gutters (replacing as needed) to ensure they are working properly as the rain and snow season […]

As rising household debt puts our country’s financial system on edge, new guidelines from the Office of Superintendent of Financial Institutions (OSFI) have taken effect today, November 1st, that will reduce some Canadian homeowners’ borrowing power. Those who have a Combined Loan Plan should have received a letter from their bank on whether they have […]

Yahoo!!  A second rate pause in a row!  The Bank of Canada (BoC) left the overnight target rate unchanged which is what affects your banks Prime rate.  That means there is no change to interest rates or payments for Variable Rate mortgage holders and those with loans or lines of credits attached to Prime.  This […]

The First Home Savings Account (FHSA) is a registered savings plan introduced by the federal government in 2022. An FHSA is designed to help you save for your first home tax-free and help you reach your vision of owning a home faster! What is a First Home Savings Account (FHSA)? An FHSA combines some of […]

As our economy shifts and the Bank of Canada is trying to slow inflation with the continuous rate hikes over the past 18 months, we are at a very different time in the mortgage market, especially for those facing a mortgage renewal. With over 50% of mortgages in Canada coming due in 2025 and 2026, […]