The Fed Brings Out The Big Guns In a remarkable show of force, the US Federal Reserve jumped the gun on its regularly scheduled meeting on March 18 and cut the target overnight fed funds rate by a full 50 basis points (bps) to 1%-to-1.25%. This now stands well below the Bank of Canada’s target rate […]

WHAT IS AN UNINSURABLE MORTGAGE? With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 categories: 1) Insured – a mortgage that is insured with mortgage default insurance through one of Canada’s mortgage insurers, […]

On March 19, the Federal Government announced the official 2019 budget.  One major topic on the discussion table (and one we were all holding our breath for) was the discussion of affordable housing in Canada.  So just what happened on “Budget Day”?  Here are the highlights of the 2019 Budget: CMHC First Time Home Buyers […]

Canada’s financial regulator is facing growing pressure to tweak its mortgage stress test, and no longer just from the mortgage industry. On Monday, Calgary city councillor George Chahal filed a motion asking for the mayor to call on the federal government to amend the stress test implemented by OSFI (the Office of the Superintendent of […]

With the importance of real estate in Canada, it is vital to understand how the various professionals in the sector operate when buying a home. Sooooooo… what is the difference between a Mortgage Specialist & a Mortgage Broker? At the surface, they sound the same • They both arrange mortgages • They both can offer […]

Many people are having trouble getting the mortgage they want these days. Working with a Licensed Mortgage Advisor offers you not only access to a variety of products, but also a variety of experience-based solutions. Here are a couple strategies we have used to get home buyers qualified, who have had difficulty elsewhere: CREATE THEIR […]

It is very common for people to believe that the rate is the most important consideration when selecting a mortgage product. In many cases, this is a reasonable assumption, many times customer are deciding between mortgage products that are very similar in rate. In this case, as in most, understanding the terms of the mortgage […]

Government restrictions on refinance guidelines have reduced the equity homeowners can access for renovations. High ratio buyers especially, in a flat market, may wait years before the house has appreciated enough that an 80% LTV refinance provides any money. If home buyers want to do upgrades, the time of purchase may be the only opportunity, […]

Have you ever wished for a simplified guide on how to actually GROW your credit score? Well, today is your lucky day! We have had years of experience working with individuals who come to us with poor or damaged credit and we have found 7 steps that prove to be tried and true in fixing […]

HOW MANY ACRES ARE YOU PURCHASING?  For conventional mortgages,  lenders will finance a certain number of acres, a house & a garage. The number of acres that they will consider can vary based on the property location and the norm for that area. The minimum down payment can also vary based on the size and location […]