Mortgage News

6 Questions Before a Renovation!

6 Important Questions to Ask Before a Big Home Renovation. So you want to make a major home renovation. Congratulations! Now, you’ve got to find the right contractor for the job. While doing a thorough online search or asking family and friends is an important first step, once you find

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Mortgage Insurance, MPP by Manulife

Mortgage Insurance helps protect your loved ones, your home, and your savings in case something happens to you Seventy-five percent of Canadian households say that they would have difficulty paying everyday living expenses like their mortgage if the primary breadwinner were to pass away.1 It doesn’t have to be that

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Unlocking Equity Through a Refinance

Renewing Vs. Refinancing a Mortgage What’s the difference between refinancing and renewing your mortgage? The terms are often used interchangeably, but they are different processes: Renewing a mortgage applies to the current mortgage loan. You will be looking for a new term and interest rate based on the amount remaining

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Bank of Canada Rate Announcement March 2021

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing. The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate

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Canadian Economic Growth in 2020 Q4

This morning’s Stats Canada release showed that economic growth in the final quarter of last year was a surprisingly strong 9.6% (annualized). The surge in economic growth in January was even more interesting, estimated at a 0.5% (not annualized) pace. If these numbers pan out, it means that Canada did not

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Longer-Term Yields are Rising Despite Central Bank Inaction

While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year Government of Canada bond, upon which mortgage rates are generally tethered, are currently at 0.69%, up

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Mortgage Documents

Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and stress! To help you get prepared, I have put together a must-have list of documents required for mortgage pre-approval and final financing approval. Getting your mortgage pre-approved is a great way to

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How Much Down Payment Do You Need?

For those of you who don’t know, your down payment is the amount of money you need to put down on your new home. Once you have determined your budget, you will have an accurate idea of the final cost of the home you can afford and what you will

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New to Canada?

So, you are new to Canada! Firstly, I just wanted to say welcome to our great country – we are so glad to have you here. I also thought I would take this opportunity to provide you with some information regarding getting a mortgage as a new Canadian to help

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How is Your Credit Health?

For most people, credit score health isn’t something you spend much time thinking about. Especially if you are someone who is making good money and paying all your bills on time, but it never hurts to be aware of your current score and ensure you are maintaining it – even

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