FIXED RATES OUTWEIGHING VARIABLE We are currently in a very unique situation when it comes to 5-year fixed and 5-year variable interest rates. For the first time in almost a decade, the lowest 5-year fixed interest rate is more than 0.30% lower than the lowest available variable interest rate for new mortgages. For some, their […]

When You Might Need an Alternative Lender Mortgage The majority of homeowners are blissfully unaware of alternative mortgages. They presume everyone is entitled to sub-3% mortgage interest rates, with no fees of any kind. But there is a growing, significant percentage of borrowers who need a different type of mortgage financing solution. Sometimes there is […]

The Latest in Mortgage News: iA Exits the Residential Mortgage Market After nearly 50 years of providing residential mortgages to Canadians, Industrial Alliance Financial Group announced its exit from the space this month. “This is a result of our decision to focus on investments in key sectors for the Group,” iA spokesperson Pierre Picard told […]

Ottawa Leads Canadian Cities in Rising Home Prices: CREA   Ottawa led Canadian cities in rising home prices this August, with its benchmark price up almost 10% year-over-year, according to the Canadian Real Estate Association (CREA). The nation’s capital has experienced gains throughout the year, in line with a trend that has seen high demand […]

AUGUST DATA CONFIRM THAT HOUSING HAS TURNED THE CORNER Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the sixth consecutive month. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. Toronto, […]

HELPING FAMILIES ONE AT A TIME Every once in a while you get to help people out and make a real difference in their lives. Recently a couple was referred to me who wanted to renew their mortgage. The bank that they had been dealing with for over 20 years had offered them a 5 […]

FIRST TIME HOME BUYERS INCENTIVE PROGRAM The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are […]

Canadians Not Deterred By Homeownership Obstacles Those dreaming of homeownership face a long list of obstacles: high prices, low supply and ever-changing mortgage rules and qualification requirements, to name a few. But that hasn’t shaken Canadians’ desire to have a place to call their own, according to the latest consumer survey from Mortgage Professionals Canada. […]

CANADIAN JOBS SURGE FOLLOWING A THREE-MONTH SLOWDOWN The Bank of Canada’s reticence to signal coming rate cuts has been vindicated by the rebounding jobs report released today for August. Following a strong posting for real GDP growth in the second quarter, Canadian job growth surprised on the upside with a gain of 81,100 in August. […]

4 WAYS TO MAKE THE MORTGAGE PROCESS SMOOTHER Mortgages are complicated—we get it! But there are steps that you as a homebuyer can take to make the process a much smoother one (plus let you walk away with the sharpest rate!) 1. Use a Broker This should be the first step you take when getting […]