Can refinancing your Mortgage save you money? Help with cash flow?

Here are the most common reasons home owners refinance their mortgages: Save money by obtaining a lower interest rate Pay off your mortgage sooner by shortening the term of the mortgage Convert your mortgage from a variable-rate to a fixed-rate, or vice versa Tap into your home’s equity in order to finance large purchases or […]

How to get the best deal on your mortgage.

Owning your own home is one of the most important decisions anyone will make. With interest rates near historic lows, market affordability is allowing many Canadians to realize their home ownership dreams. In order to make this dream a reality, you need a good financial partner. Someone who can get you the best deal and […]

Mortgage Rate Alert: Long Term Fixed Rates Continue to be Hot!

Fixed Rate mortgages continue to be at historical lows, and although variable rates are lower, they simply don’t offer the same advantage or value they once did. Long term fixed rates just may be the right choice! With 10 Year fixed rates now well below 4%, and 5 Year fixed rates below 3%, it makes […]

Mortgage Penalty Calculators

The Canadian government now requires federally regulated mortgage lenders to (among other things that have been in discussion for some time) access to online calculators to estimate the pre-payment penalty on their mortgage.   We’ve summarized the links to access these calculators on our website here. While this is a great step forward, caution should […]

Finance Moves Again on Mortgages

In a surprise move Finance announced recently that it is again making changes to mortgage borrowing practices in Canada. The surprise is in the timing of the announcement given that the housing market is already starting to soften. The move probably reflects the realization that interest rates will remain unchanged for longer than previously expected, […]

Former BofC Governor Plays Down Household Debt Warnings

Canada’s current and former central bankers seem at odds over the country’s soaring consumer debt, with former Bank of Canada governor David Dodge playing down warnings by his successor, Mark Carney. “I don’t think it’s in trouble,” he said, noting most consumers aren’t overexposed. In areas where employment levels remain high (such as Alberta, which Statistics […]

GDP News could Delay Potential Interest Rate Hikes

Canadian GDP falls 0.2% in February – See the Statistics Canada Report – The Canadian economy unexpectedly shrank in February due to a slowdown in the mining and manufacturing sectors, dampening expectations that the Bank of Canada will raise interest rates soon. From the Globe and Mail “Get used to this. There is no consensus about when […]