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Category: Financing (49 posts)

BoC Rate Cut: What It Means for the Mortgage Market

January 30, 2025 | Posted by: Keith Leighton

BoC Rate Cut: What It Means for the Mortgage Market The Bank of Canada (BoC) has once again cut its benchmark interest rate by 25 basis points, continuing its effort to stimulate economic growth am ... [read more]

Bounce Back from Post-Christmas Financial Blues

January 8, 2025 | Posted by: Keith Leighton

Bounce Back from Post-Christmas Financial Blues The holiday season is a time of joy, but once the festive glow fades, many of us are left grappling with the financial aftermath. Overspending on gif ... [read more]

Lower Rates and What They Mean for You

November 14, 2024 | Posted by: Keith Leighton

Lower Rates and What They Mean for You Welcome back to our weekly mortgage market update for Atlantic Canada! This week, we have good news for homebuyers and homeowners alike, as interest rates hav ... [read more]

Bank of Canada Key Interest Rate Cut: What It Means for Homebuyers and Mortgages in Atlantic Canada

September 5, 2024 | Posted by: Keith Leighton

Bank of Canada Key Interest Rate Cut:What It Means for Homebuyers and Mortgagesin Atlantic Canada On September 3rd, the Bank of Canada (BoC) lowered its key interest rate cut to 4.25%, its third co ... [read more]

Bank of Canada Reduces Key Interest Rates: Mortgage Rates to Follow

July 25, 2024 | Posted by: Keith Leighton

Bank of Canada Reduces Key Interest Rates: Mortgage Rates to Follow The Bank of Canada has announced a reduction in its policy interest rate by 25 basis points, bringing it down to 4.5%. This decis ... [read more]

Behind On Your Mortgage Payments?

March 15, 2024 | Posted by: Keith Leighton

Behind On Your Mortgage Payments? With the cost of living rising dramatically, many are finding it difficult to make ends meet. Gas and grocery bills are rising, home prices and rents are skyrocket ... [read more]

Amortization Options

February 23, 2024 | Posted by: Keith Leighton

Amortization Options Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly ... [read more]

What is Loan-to-Value (LTV) and How Can LTV Impact Your Mortgage?

January 31, 2024 | Posted by: Keith Leighton

What is Loan-to-Value (LTV) andHow Can LTV Impact Your Mortgage? The Loan-to-Value Ratio (LTV) is a financial term used in the context of mortgage lending, and it represents the ratio of a loan amo ... [read more]

Navigating the Winter Wonderland: Home Financing

December 7, 2023 | Posted by: Keith Leighton

Navigating the Winter Wonderland: Home Financing As we approach the end of 2023, the mortgage market continues to evolve, presenting both challenges and opportunities for homebuyers and homeowners ... [read more]

Informed Smart Home Financing: Questions to Ask Mortgage Lenders

August 25, 2023 | Posted by: Keith Leighton

Informed Smart Home Financing:Questions to Ask Mortgage Lenders Asking questions to mortgage lenders is a crucial step in the home buying process. A mortgage is a significant financial commitment, ... [read more]

Revamp, Refresh, Renew: Home Renovations

July 27, 2023 | Posted by: Keith Leighton

Revamp, Refresh, Renew: Home Renovations Undertaking a home renovation project can be an exciting endeavor, enhancing your living space and adding value to your property. However, the costs associa ... [read more]

How To Unleash Your Borrowing Potential Via Alternative Lending

July 14, 2023 | Posted by: Keith Leighton

How To Unleash Your Borrowing Potential Via Alternative Lending When traditional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it i ... [read more]

Problems Securing a Bank Mortgage? THINK Private Mortgage!

May 25, 2023 | Posted by: Keith Leighton

Problems Securing a Bank Mortgage? THINK Private Mortgage! Qualifying for mortgages nowadays can be challenging. Government regulations affect down payments, investment properties and high-ratio ... [read more]

Fixed Mortgage Rates Are Falling

February 10, 2023 | Posted by: Keith Leighton

Fixed Mortgage Rates Are Falling While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction. Certain lenders and national broke ... [read more]

Recession Proofing Your Finances

January 27, 2023 | Posted by: Keith Leighton

Recession Proofing Your Finances The latest news has been focused on rising interest rates, surging inflation, and economic uncertainty with suggestions that the Canadian economy could be tripped i ... [read more]

Top 5 Financial MIstakes To Avoid

December 14, 2022 | Posted by: Keith Leighton

5 Financial Mistakes to Avoid 2022 has been nothing but bad news financially for most Canadians. Everything we buy costs more, and interest rates are making our mortgages and other loans a lot more ... [read more]

10 “Must Know” Credit Score Facts

December 2, 2022 | Posted by: Keith Leighton

10 “Must Know” Credit Score Facts If you are in the market for a home or a new car, you are probably very familiar with your credit score. Lenders are one of the primary users of credit ... [read more]

Investment Properties - Income Supplement? Pension?

July 29, 2022 | Posted by: Keith Leighton

Investment Properties - Income Supplement? Pension? An investment (or rental) property, can be a great option for generating additional monthly income and growing your wealth over time, if done pro ... [read more]

Debt: To consolidate or not to consolidate? That is the question.

July 22, 2022 | Posted by: Keith Leighton

If you are a Canadian living in debt, you are not alone. According to Statistics Canada, household debt grew faster than income last year, with Canadians owing $1.83 for every dollar of household di ... [read more]

How Bridge Financing Works

June 14, 2022 | Posted by: Keith Leighton

HOW BRIDGE FINANCING WORKS In life, things rarely go as planned. This is especially true when it comes to real estate! When it comes to buying a new home, in a perfect world, most of us would like ... [read more]

When Was Your Last CREDIT CHECK-UP?

June 7, 2022 | Posted by: Keith Leighton

When Was Your Last CREDIT CHECK-UP? A few simple steps to healthy credit… Just like you should have a physical every year to make sure you’re healthy, you should do the same for your ... [read more]

Changing Your Financial Direction

May 20, 2022 | Posted by: Keith Leighton

Changing Your Financial Direction Did You Know? The average Canadian owes $23,000 in consumer debt and has at least 2 credit cards. Source: CBC.ca If you live paycheque to paycheque, the idea of s ... [read more]

The RATE Debate

May 13, 2022 | Posted by: Keith Leighton

The Rate Debate One of the first questions that potential buyers want answered is: “What is your interest rate?” It is easy to think that this is the most important question, but the ... [read more]

Key Documents For Mortgage Approvals

April 27, 2022 | Posted by: Keith Leighton

KEY DOCUMENTS FOR MORTGAGE APPROVALS Documents Required to Qualify for a Mortgage Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and ... [read more]

Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come

April 14, 2022 | Posted by: Keith Leighton

Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 ... [read more]

Coping With Rising Interest Rates

March 25, 2022 | Posted by: Keith Leighton

Coping With Rising Interest Rates We've observed an uptick in fixed-term mortgage rates from all of our lenders during the last few weeks. In just two months, the banks, including the RBC, TD and S ... [read more]

The Credit Challenge

March 18, 2022 | Posted by: Keith Leighton

The Credit Challenge For most people, credit score 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 ... [read more]

BoC to Hike Rates in March

February 17, 2022 | Posted by: Keith Leighton

BoC to Hike Rates in March Canadian Inflation Rose 5.1% in January StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in Decemb ... [read more]

OMICRON: IMPACT ON MORTGAGE RATES

December 23, 2021 | Posted by: Keith Leighton

OMICRON: IMPACT ON MORTGAGE RATES The Omicron variant coupled with an expectation of continuing high inflation has prompted investors to reconsider the possibility of future Bank of Canada rate hik ... [read more]

Property Market Outlook: 2022

December 9, 2021 | Posted by: Keith Leighton

PROPERTY MARKET OUTLOOK: 2022 It is predicted that Canada's double-digit house price inflation will drop-off next year, but the cost-effectiveness may still decrease in one of the world's h ... [read more]

Short Term Financing

November 19, 2021 | Posted by: Keith Leighton

Your quick guide to your best short-term financing options. Short-term financing – credit or loans that are designed to be paid off in a short period of time – can be a useful financial ... [read more]

While There Are “A” Lenders, There’s Always “Alternative” Lenders.

October 21, 2021 | Posted by: Keith Leighton

There’s Always “Alternative” Lenders When it comes down to getting approved for a mortgage, there are a lot of factors and not everyone will qualify. What are your options if the ... [read more]

High Inflation and Mortgage Rates

September 10, 2021 | Posted by: Keith Leighton

What Does High Inflation Mean For Mortgage Rates? Canada’s inflation rate was above expectations in August, rising to its highest level in more than a decade. If above-target inflation persis ... [read more]

Inflation Heightens Speculation

July 27, 2021 | Posted by: Keith Leighton

Inflation Heightens Speculation Rising inflation here in Canada and in the United States is heightening speculation central banks will be looking at interest rate hikes sooner than forecast.The las ... [read more]

5 Mortgage Approval Roadblocks

June 11, 2021 | Posted by: Keith Leighton

5 Approval Roadblocks. When in the process of buying a home, there is nothing worse than having your mortgage broker or lawyer call and say “there is a problem”. If you have found your ... [read more]

THE IDEAL MORTGAGE QUALIFYING CLIENT

March 17, 2021 | Posted by: Keith Leighton

THE IDEAL MORTGAGE QUALIFYING CLIENT There are a million variables that determine how one can qualify for a mortgage. The banks, mortgage lenders and credit unions all have different guidelines to ... [read more]

How a CHIP Reverse Mortgage Can Help You Cover the Costs of the Holiday Season.

December 18, 2020 | Posted by: Keith Leighton

How a CHIP Reverse Mortgage Can Help You Cover the Costs of the Holiday Season. As you’re undoubtedly aware, the holiday season can be a very expensive time. Not only are there gifts to buy, ... [read more]

Bank of Canada Confirms Commitment To Low Interest Rates

December 9, 2020 | Posted by: Keith Leighton

Bank of Canada Holds Rates At Effective Lower Bound–QE Continues.Bank of Canada Confirms Commitment To Low Interest Rates Despite the good news on the vaccine front since the Governing Counci ... [read more]