The Good: It’s hard to believe that anything good could come out of the COVID-19 pandemic – and yet – a new analysis by rate comparison site Finder has found that Canadians saved approximately five times more of their disposable income in 2020 compared to 2019.
Smart homeowners are using these savings to their advantage for prepayment privileges or increasing their down payment amount on that new home. Read the article…
The Bad: The Bank of Canada is ending one of its emergency measures to stimulate the COVID-19 economy, leading to speculation that the era of record-low mortgage rates could be ending, too. The Financial Post article from February 1 reports, “Lenders had it good, but the central bank stops buying Canada Mortgage Bonds on October 26”. Read the article…
The Awesome: Get your FREE copy of Preserving Wealth: The Next Generation by Jack Lumsden, MBA, CFP.
Take the first step… talk to me about all your mortgage financing needs today.
The Best:
