If you’ve consistently made mortgage payments over the years, you’ve been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from home renovations to funding significant life events. This guide will help you grasp the concept of home equity and how you can leverage it. Popular […]

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 CIBC report illuminated that 30% of first-time homebuyers in Canada were bolstered by familial financial support, with the average monetary gift oscillating around

Hello dear readers, Let’s have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today’s hot topic of conversation would undoubtedly revolve around the big “I” – Interest Rates. Ah yes, those two words that make homebuyers’ hearts flutter (and not always in

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The global economy is slowing and growth is forecast to moderate

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there’s this thing called capital gains that might show up on your tax return. Here’s a friendly chat about what you need to know, in simple terms. 1. What’s Up with

If you’re on the cusp of getting a mortgage, or if you’re considering refinancing, you’ve likely encountered the terms “fixed rate” and “variable rate” mortgage. These are the two primary pathways in the mortgage landscape, and choosing between them can feel like standing at a crossroads. Let’s unpack these options together, so you can stride

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three years to Canadians buckling under a wave of renewals at much higher rates. The federal government has not budgeted any money for the mortgage charter and

In recent years, we’ve witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn’t just about swapping office desks for dining tables; it’s profoundly impacting where we choose to live and our mortgage and real estate decisions. In this post, let’s explore this

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The global economy continues to slow and inflation has eased further. In the United States, growth has been stronger than

Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today’s economic climate can be unpredictable, but with the right strategies, you can manage your mortgage effectively and even turn this responsibility into a rewarding part of your financial