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, […]

As you may have heard, The Bank of Canada’s policy rate was 5% as of September. The recent rate hikes over the spring and summer have slowed the housing and mortgage markets as the rise in mortgage rates unsurprisingly spooked potential buyers. More recently, fixed-rate loans have become more expensive because of the increase in […]

Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner, and it avoids delaying your retirement with additional expenses to support them. So, how do you teach […]

  Today the Bank of Canada announced a pause in their rate hikes, leaving its policy unchanged. Which also means no change to current mortgage payments if you have a Variable Rate Mortgage. The central bank followed this announcement with a statement, saying that they are “prepared to increase the policy interest rate further if […]