One of the first questions that potential buyers want answered is: “What is your interest rate?” It is easy to think that this is the most important question, but there is a lot more to your mortgage contract than just the rate. And so, the rate debate continues! The rate debate is a hot topic […]

With the Canadian economy showing strong signs of recovery the way is clear for another half-a-percentage point increase in the Bank of Canada rate. Statistics Canada figures for February show that gross domestic product (GDP) grew by another 1.1%, with just about all sectors of the economy showing improvement. Preliminary data for March indicate a […]

Documents Required to Qualify for a Mortgage Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and stress! Getting your mortgage pre-approved is part of this prep-process, and will make things easy in the long run. In order to get pre-approved, the lender must have taken […]

The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be followed by the US Federal Reserve next month. While the BoC was the first G-7 central bank to take such […]

Statistics Canada released the March Labour Force Survey this morning, reporting a 72,500 jobs gain from the whopping 337,000 surge in February. Employment increased in both the goods- and services-producing sectors. Gains were concentrated in Ontario and Quebec. The unemployment rate fell to 5.3%, its lowest monthly rate since the data series was released in […]

As online-based transactions become more prevalent, cybercriminals are finding new and creative ways to steal your money. So, what can you do to make sure you don’t fall prey to these malicious attacks? Here are the most common types of real estate fraud schemes and some ways that you can safeguard yourself. Wire fraud One […]

When it comes to mortgages, one of the most important influencers is interest rate but do you know how this rate is determined? It might surprise you to find out that there are 10 major factors that affect the interest you will pay on your home loan! Knowing these factors will not only prepare you […]

So, you are looking to purchase a second property! Congratulations! This is a great opportunity for you to expand your financial portfolio and ensure stability for the future. However, before you launch into this purchase there are a few things you should know, depending on which type of second property you are looking to purchase. […]

Statistics Canada released the February Labour Force Survey this morning, reporting a much more significant than expected 336,600 net new jobs, with the unemployment rate falling a full percentage point to 5.5%. This is the first time the unemployment rate fell below its pre-Covid level and reinforces the expectation for another Bank of Canada rate […]

Well, it happened. The Bank of Canada pulled the trigger on an interest rate increase, the first since October 2018. The trendsetting “overnight” rate doubled from .25% to .50% and the Bank has made it clear more increases are coming. The upward move and the Bank’s messaging have rekindled the perennial mortgage debate: fixed or […]