Mortgage Blog

Category: Mortgage (56 posts)

Navigating High Interest Rates: Strategies for New Home Buyers Across Canada

December 19, 2023 | Posted by: Shabir Madhas

Introduction In today's economic landscape, we're seeing a trend that can be quite intimidating for anyone looking to step into the world of home ownership – high interest rates. But fear not! This ...

Navigating Your Mortgage: Practical Tips from the Experts

December 14, 2023 | Posted by: Shabir Madhas

Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today's e ...

Bank of Canada maintains policy rate, continues quantitative tightening

December 6, 2023 | Posted by: Shabir Madhas

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The ...

Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape

December 3, 2023 | Posted by: Shabir Madhas

In recent years, we've witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn't just about swapping office desks for dinin ...

Canada's New Updated Mortgage Charter

November 23, 2023 | Posted by: Shabir Madhas

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ...

Understanding Fixed vs. Variable Rate Mortgages

November 15, 2023 | Posted by: Shabir Madhas

If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ...

6 things to know about capital gains and taxes for people across Canada

November 2, 2023 | Posted by: Shabir Madhas

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ...

Bank Of Canada Rate Update October 25, 2023

October 25, 2023 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ...

Mortgage Strategies in a Rising Interest Rate Environment

October 24, 2023 | Posted by: Shabir Madhas

Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ...

Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

October 6, 2023 | Posted by: Shabir Madhas

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ...

Understanding and Utilizing Home Equity

October 1, 2023 | Posted by: Shabir Madhas

If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ...

Can a first-time home buyer have a mortgage co-signer?

September 17, 2023 | Posted by: Shabir Madhas

Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ...

Bank of Canada maintains policy rate, continues quantitative tightening

September 6, 2023 | Posted by: Shabir Madhas

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ...

Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

August 23, 2023 | Posted by: Shabir Madhas

Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ...

Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

August 5, 2023 | Posted by: Shabir Madhas

Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ...

Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

July 27, 2023 | Posted by: Shabir Madhas

Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r ...

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

July 12, 2023 | Posted by: Shabir Madhas

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ...

Some great tips to help you save for a home

June 13, 2023 | Posted by: Shabir Madhas

A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ...

Strategies for Speeding Up Mortgage Repayment

June 3, 2023 | Posted by: Shabir Madhas

Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ...

First-Time Home Buyer Budgeting: What You Need to Know

April 20, 2023 | Posted by: Shabir Madhas

As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ...

Bank Of Canada Rate Update April 12, 2023

April 12, 2023 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ...

Bank of Canada Rate Update March 8, 2023

March 8, 2023 | Posted by: Shabir Madhas

Selling Your Home in the Winter: How You Can Make the Most of It

March 5, 2023 | Posted by: Shabir Madhas

Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...

Title insurance and home insurance–protect what matters most

February 27, 2023 | Posted by: Shabir Madhas

When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

January 25, 2023 | Posted by: Shabir Madhas

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...

Should You Spend the Full Mortgage Amount You're Approved For?

December 28, 2022 | Posted by: Shabir Madhas

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

The Pros and Cons of Fixed vs. Variable Mortgages

December 8, 2022 | Posted by: Shabir Madhas

When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ...

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

December 7, 2022 | Posted by: Shabir Madhas

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ...

Bank of Canada Rate Update October 26, 2022

October 26, 2022 | Posted by: Shabir Madhas

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ...

Best Ways to Plan for Your Down Payment

October 19, 2022 | Posted by: Shabir Madhas

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ...

How Mortgage Rates Affect Buying Power?

September 16, 2022 | Posted by: Shabir Madhas

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ...

Bank Of Canada Rate Update September 7, 2022

September 7, 2022 | Posted by: Shabir Madhas

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ...

Should You Pay Off Your Mortgage Early?

August 24, 2022 | Posted by: Shabir Madhas

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ...

Bank Of Canada Rate Update July 13, 2022

July 13, 2022 | Posted by: Shabir Madhas

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ...

Bank Of Canada Rate Update June 1, 2022

June 1, 2022 | Posted by: Shabir Madhas

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ...

How a Mortgage Pre-Approval Can Protect You from Rising Rates

May 26, 2022 | Posted by: Shabir Madhas

With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ...

How is a Private Mortgage Different Than a Traditional Bank Mortgage

May 4, 2022 | Posted by: Shabir Madhas

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ...

Bank Of Canada Rate Update April 13, 2022

April 13, 2022 | Posted by: Shabir Madhas

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ...

Bank Of Canada Rate Update March 2, 2022

March 2, 2022 | Posted by: Shabir Madhas

Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ...

Bank Of Canada Rate Update January 26, 2022

January 26, 2022 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ...

Top 10 Questions to Ask Your Mortgage Broker in Alberta

How Much of A Mortgage Can You Afford?

January 5, 2022 | Posted by: Shabir Madhas

How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer's due diligence in calculating how much mortgage ...

Prequalification and Pre-Approval—What is the Difference? Home Buying in Alberta

December 15, 2021 | Posted by: Shabir Madhas

What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ...

Bank Of Canada Rate Update December 9, 2021

December 8, 2021 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent ...

What to do if You Are Denied a Mortgage

November 24, 2021 | Posted by: Shabir Madhas

What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ...

How to Know if it's Time to Refinance

November 3, 2021 | Posted by: Shabir Madhas

How to Know if it's Time to Refinance According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits ...

Bank Of Canada Rate Update Oct 27, 2021

October 27, 2021 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with ...

What Is Home Equity and How Can I Build It?

October 6, 2021 | Posted by: Shabir Madhas

Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen ...

Bank Of Canada Rate Update Sept 8, 2021

September 8, 2021 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower boun ...

Getting a Mortgage as a Student

August 18, 2021 | Posted by: Shabir Madhas

Purchasing a home is most likely one of the most sizable purchases most of us will ever make, and finally, buying a home is a dream come true for most. For students, it may seem like this dream is fo ...

What Happens if You Lose Your Job Before Closing?

August 4, 2021 | Posted by: Shabir Madhas

A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not ...

How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in Alberta

July 21, 2021 | Posted by: Shabir Madhas

When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include. Some common conditions deal with ...

Bank Of Canada Rate Update July 14, 2021

July 14, 2021 | Posted by: Shabir Madhas

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ per ...

Risks of Putting Down a Firm Offer with a Pre-Approval Alberta

July 7, 2021 | Posted by: Shabir Madhas

Risks of Putting Down a Firm Offer with a Pre-Approval Today, the real estate market is competitive and homebuyers need all the help they can get to secure their home at the right price. Once you fin ...

Low Rates in Alberta Helping Buyers Pay Off Their Mortgages at Record Pace

June 28, 2021 | Posted by: Shabir Madhas

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today's average rates, 61% ...

Bank Of Canada Rate Update June 9, 2021

June 9, 2021 | Posted by: Shabir Madhas

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing The Bank of Canada today held its target for the overnight rat ...

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Category: Mortgage (56 posts)

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