In its recent rate cut, the Bank of Canada dropped its benchmark interest rate by 25 basis points for the second time this year, lowering it to 4.5 percent. This is the lowest rate ever since April 2023. If you are planning to apply a mortgage, may be now is the best time to apply...
Struggling with high monthly mortgage payments? Sandhu & Sran Mortgage Brokers are here to help with mortgage refinance in Abbotsford. This could be the solution to lowering your costs and unlocking your home equity for more financial flexibility. But first, let’s understand what mortgage refinancing is and how it can benefit you. Mortgage refinancing involves...
The changed scenario in the housing market of Canada can be pretty exciting and overwhelming for first-time homebuyers. Just recently, it has become possible to stretch mortgage terms up to 30 years. Although this can provide some flexibility in the management of the monthly payments, there is still a careful weighing of the advantages and...
On September 16, 2024, the Canadian government issued a significant remark that may have an impact on the housing market. New mortgage guidelines aim to make it easier for Canadians, particularly Millennials and Generation Z, to buy a home. These measures, hailed as the most significant in decades, will benefit first-time homebuyers while also spurring...
In its latest announcement regarding mortgages for First Time Home Buyer, Federal government raised the insured mortgage cap to $1.5M for a down payment of 20%. Also, the amortization period has been increased from 25 to 30 years, bringing a sigh of relief on home buyers worried about huge monthly payment. With the expected inflation...
