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Category Archives: Mortgage Strategies
How Reliable Are Forecasts (Weather or Interest Rate)?
Is it just me – or have you noticed the unpredictable weather and inaccurate weather forecasts lately? Are we supposed to wear shorts or winter boots? Forecasters can’t seem to get it right. Predictions for huge snow events don’t materialize … Continue reading
Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies
Tagged forecast, mortgage, mortgage broker, Tracy Irwin
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What in the World is the New Canadian Mortgage Charter?
Last November, federal Deputy Prime Minister and Finance Minister Chrystia Freeland tabled the federal government’s Fall Economic Statement 2023 (the FES). The new Canadian Mortgage Charter (CMC) was part of that, and according to Freeland, it’s “one of the most … Continue reading
The First Step Towards Home Ownership Is An FHSA
Earlier this year the First Home Savings Account (FHSA) was introduced by the Government of Canada. It was designed to help Canadians save for their first home tax-free (with limits, of course). With tax advantages, contribution flexibility, and the freedom … Continue reading
Today’s Daunting Duo
The combination of high interest rates AND the mortgage stress test can make it challenging to qualify for mortgage financing. What Is the Mortgage Stress Test? The Canadian Government designed the mortgage stress test to protect borrowers in case interest … Continue reading
Are You Waiting For Mortgage Rates to Go Down?
Last Wednesday’s announcement of a 25 basis point rate hike was disappointing. We’re all looking forward to lower mortgage rates in the future. The question isn’t IF rates will decrease – it’s WHEN. Some savvy soothsayers (a person who predicts … Continue reading
How Your Credit Card Debt Affects Borrowing Costs
No surprise… consumer debt – including credit card debt, interest rates, and borrowing costs are at record-high levels in Canada. What may be a surprise though, is the affect your credit report and credit score can have on your borrowing … Continue reading
Posted in General, Mortgage Strategies
Tagged borrowing costs, consumer debt, credit report Canada, Equifax, mortgage financing, TransUnion
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Are Your Seat Belts Fastened?
“Fasten your seat belts, it’s going to be a bumpy night” were the immortal words of Bette Davis in the 1950 classic movie, All About Eve. Know what else can be bumpy? Mortgage renewals. But they don’t have to be. … Continue reading
Posted in General, Mortgage Rates, Mortgage Strategies
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Who Doesn’t Love A Good Forecast?
Happy New Year. May 2023 be your year to shine! We all know, forecasts are one thing, but reality can be quite another, especially when it comes to the weather! Today, I’m featuring an excerpt from a Canadian Mortgage Trends … Continue reading
Three Ways to Maximize Your Mortgage Financing Potential
2022 will be remembered for its highly competitive housing market. Buyers need an edge. Those looking to renew their mortgage can reduce the mortgage approval limiting impact of the stress test – AND get further ahead with their mortgage financing … Continue reading
Why Homebuyers Don’t Always Get the Best Mortgage Financing Rate
Sometimes homebuyers enter the mortgage financing application process with expectations about receiving the best rate possible only to be disappointed when they discover they don’t qualify for it. It begs the question: Why don’t homebuyers always get the best mortgage … Continue reading