Home prices in Canada go up $100,000 in 4 months!
May 2023The average home price in Canada has gone up over $100,000 in the last four months, and here is what this means for you.If you own a home – extra equity and security.If you have debts – you can refinance and lower your monthly payments.If you don’t own a home...
Just like the weather will the real estate market heat up?
Experts say it’s a great time to buy as there is less competition with more homes coming on the market. In most markets, home prices are continuing to plateau. However, prices are still up compared to pre-pandemic values, making it an excellent time to sell. Overall,...
How US rates can impact Canadian market?
The US housing market has been experiencing a surge in demand over the past year, with low mortgage rates being one of the key factors driving the trend. However, recent announcements by the Federal Reserve regarding the direction of interest rates have left many...
Finally, Some Good News on Interest Rates
While the variable rate has traditionally been a money saver, the switch to fixed is definitely on. Since March 2022, fixed rates have risen only 1.7%, while the Bank of Canada has hiked the variable rate option by 4.25% Fixed rates generally follow the Government of...
3 Reasons to use a Mortgage Broker instead of a bank
With today's higher interest rates and the government putting even more rules and restrictions in place, a Mortgage Broker is better than a bank. Here is why. 1. More Options Mortgage Brokers are not restricted by the same rules banks and research all your...
The housing market in Canada might pick up in the spring: Get ready, house hunters
Many questioned whether the market would improve in the spring after a year when qualifying for a mortgage became significantly more difficult. This year's spring market may improve, given the Bank of Canada's indications that rates are at their highest point....
Do you know the difference between conventional and collateral mortgages?
Not many people understand the difference between conventional and collateral mortgages. With a standard conventional mortgage, you get a set amount, rate and amortization. For example, say the property is worth $250,000 — you get a $200,000 loan at 3.5 percent, a...
35% Of all Canadian homeowners will have to sell within 10 months
According to a new Yahoo Canada and Maru Public Opinion poll, the current mortgage rate hikes are becoming unmanageable. Among Variable rate mortgage holders 45% say they’ll be forced to sell in under nine months. 19% said they had to make drastic financial...
Top 5 Financial tips to save money in 2023
1. Set goals– First of all, make a list of goals that you want to achieve in 2023. For instance, I want to cut down on eating junk food. I want to start eating breakfast every day. I want to cut down on alcohol etc. It will take about 15 minutes to write down your...
Banks don’t want you to know this!
January 23rd 2023 Banks don't want you to do your homework, and here's why They will ask you to renew up to 6 months before you need to, hoping you will be too lazy to shop and compare. While your bank will continually tell you that they value you greatly as a...