Are you ready to apply a mortgage? You’ve finally reviewed your finances and the home market, as well as examined the many financial options available to you. And now, you made the decision to apply for a mortgage. After applying, comes the waiting period, which is one of the most difficult aspects of the house-buying...
Good news for prospective home buyers! The Bank of Canada (BOC) just announced another 50 basis point cut to its policy rate, taking it down to 3.25% from 3.75%. This rate cut is a significant move that is surely going to improve the market gap in real estate. The Dec. 11 move is the central...
Wondering whether to choose an insured or uninsured mortgage? No matter, which bank or lender you are lending with, residential mortgages in Canada fall into two categories, namely insured or uninsured mortgage. One of the many advantages of being a first-time home buyer in Canada is the ability to purchase with as little as 5%...
The Bank of Canada’s hefty interest rate drop this week may have some Canadian homeowners tied into expensive mortgages fantasizing about a lower rate. However, the potential of relocating to a new property with a lower interest rate, or refinancing to take advantage of lower monthly payments, is weighed against the severe penalties associated with...
The Bank of Canada (BOC) announced another half-point, i.e. 50 bps interest rate cut, bringing its benchmark policy rate to a two-year low of 3.75%. This is the fourth rate drop this year, lowering interest rates for borrowers with loans connected to the prime rate. From 5% in the starting of the year to 3.75%...
