When should you lock in your variable into a fixed rate mortgage? If you are buying a home this year, which option will save you the most money? If you understand the innate differences between fixed and variable rates then the below breakdown will help you make the best educated decision.
Read MoreStarting June 1, 2021 you might need to save $20,000-$45,000 more to afford the same home after an announcement last week by the Office of the Superintendent of Financial Institutions (OSFI). As of now, this only applies if you are planning to have 20% down payment or more.
Read MoreAll the murmurs of fixed rates rising finally came to fruition as rates jumped as high as 3% overnight. This means that someone seeking a $500,000 mortgage needs to pay almost $1000 more a year than they did yesterday - procrastinating is getting expensive. Get pre-approved to have your rate reserved and consider a variable rate that is rumoured to go down in the coming months.
Read MoreAs the COVID-19 global battle ensues, there have been decisive action by the Canadian government to give small businesses and workers the best chance of weathering the storm. We have compiled a live list of government grants and cash flow strategies that we believe are worth consideration for your small business so that you can continue to save for a mortgage down payment or make current payments on time.
Read MoreAs COVID-19 escalates dramatically in the second week of March 2020, several changes in the mortgage world directly start to affect homebuyers in both advantageous and potentially detrimental ways.
In the webinar above, Paul Davidescu speaks to the record low mortgage rates and how they are starting to trend upwards as lenders put in extra precautions and some even close their doors. We also cover the new-new stress test which replaces the one announced last month, and finally, we cover what else you can do as a current homeowner or renter to thrive in times of uncertainty.
Read MoreThe silver lining of the Coronavirus pandemic is that those who are in the market for a new home or investment property may be in for some big savings. Along with the outbreak of COVID-19, we’ve also seen mortgage rates drop to as low as two percent— which means now could be the perfect time to refinance or purchase a new home. If you’re curious how and why the Coronavirus is affecting the real estate market, and what this could mean for you, read on.
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