HIGHER MORTGAGE PAYMENTS MAY PULL HOME PRICES DOWN, BUT THE COST OF REPLACEMENT WILL KEEP THEM AFLOAT.
If you’ve been living under a rock for the past 6 month’s I’ve got news for you. The bank of CANADA (and every other country’s bank) is very aggressively raising interest rates to put a stop to the massive inflation of goods and services we have had the past two years. The massive inflation I …more
Happy New Year… Now get your taxes done!
Yup, a Mortgage Broker is telling you to get your taxes done. Why? Well, several reasons. The thing to understand is the following. Your mortgage is a huge part (likely the biggest part) of your financial picture and all the other parts of your finances (such as your taxes) effect your mortgage. So why do …more
What is a Cashback Mortgage? It’s AWESOME, that’s what it is!
Most people don’t know what a Cashback Mortgage is, I know I didn’t before I started in this line of work. So what is it? It’s exactly what is sounds like, when you sign up for a Cashback Mortgage you get some cash back. That’s it. So how does it work? It’s simple, you get …more
The Mortgage Stress test has gone up. What’s that mean?
That’s right folks, as of June 1st 2021 the Canadian Mortgage stress test has gone up from 4.79% to 5.25%. To understand this and its consequences we first must make sure we know what the ‘stress test’ is. The ‘stress test’ is a measure put in place by the OSFI (Office of the Superintendent of …more