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Category: Mortgage (45 posts)
Understanding and Utilizing Home Equity
October 1, 2023 | Posted by: Gregory Johnston
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 h ... [read more]
Can a first-time home buyer have a mortgage co-signer?
September 17, 2023 | Posted by: Gregory Johnston
Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ... [read more]
Bank of Canada maintains policy rate, continues quantitative tightening
September 6, 2023 | Posted by: Gregory Johnston
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ... [read more]
Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.
August 23, 2023 | Posted by: Gregory Johnston
Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ... [read more]
Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience
August 5, 2023 | Posted by: Gregory Johnston
Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ... [read more]
Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada
July 27, 2023 | Posted by: Gregory Johnston
Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r ... [read more]
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
July 12, 2023 | Posted by: Gregory Johnston
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ... [read more]
Some great tips to help you save for a home
June 13, 2023 | Posted by: Gregory Johnston
A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ... [read more]
Strategies for Speeding Up Mortgage Repayment
June 3, 2023 | Posted by: Gregory Johnston
Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ... [read more]
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First-Time Home Buyer Budgeting: What You Need to Know
April 20, 2023 | Posted by: Gregory Johnston
As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ... [read more]
Bank Of Canada Rate Update April 12, 2023
April 12, 2023 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ... [read more]
Bank of Canada Rate Update March 8, 2023
March 8, 2023 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at ... [read more]
Selling Your Home in the Winter: How You Can Make the Most of It
March 5, 2023 | Posted by: Gregory Johnston
Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ... [read more]
Title insurance and home insurance–protect what matters most
February 27, 2023 | Posted by: Gregory Johnston
When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ... [read more]
Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening
January 25, 2023 | Posted by: Gregory Johnston
The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ... [read more]
Should You Spend the Full Mortgage Amount You're Approved For?
December 28, 2022 | Posted by: Gregory Johnston
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ... [read more]
The Pros and Cons of Fixed vs. Variable Mortgages
December 8, 2022 | Posted by: Gregory Johnston
When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ... [read more]
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
December 7, 2022 | Posted by: Gregory Johnston
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ... [read more]
Bank of Canada Rate Update October 26, 2022
October 26, 2022 | Posted by: Gregory Johnston
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ... [read more]
Best Ways to Plan for Your Down Payment
October 19, 2022 | Posted by: Gregory Johnston
Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ... [read more]
How Mortgage Rates Affect Buying Power?
September 16, 2022 | Posted by: Gregory Johnston
How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ... [read more]
Bank Of Canada Rate Update September 7, 2022
September 7, 2022 | Posted by: Gregory Johnston
Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ... [read more]
Should You Pay Off Your Mortgage Early?
August 24, 2022 | Posted by: Gregory Johnston
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ... [read more]
Bank Of Canada Rate Update July 13, 2022
July 13, 2022 | Posted by: Gregory Johnston
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ... [read more]
Bank Of Canada Rate Update June 1, 2022
June 1, 2022 | Posted by: Gregory Johnston
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ... [read more]
How a Mortgage Pre-Approval Can Protect You from Rising Rates
May 26, 2022 | Posted by: Gregory Johnston
With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ... [read more]
How is a Private Mortgage Different Than a Traditional Bank Mortgage
May 4, 2022 | Posted by: Gregory Johnston
Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ... [read more]
Bank Of Canada Rate Update April 13, 2022
April 13, 2022 | Posted by: Gregory Johnston
Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ... [read more]
Bank Of Canada Rate Update March 2, 2022
March 2, 2022 | Posted by: Gregory Johnston
Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ... [read more]
Bank Of Canada Rate Update January 26, 2022
January 26, 2022 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ... [read more]
Top 10 Questions to Ask Your Mortgage Broker in Ontario
January 19, 2022 | Posted by: Gregory Johnston
Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces ... [read more]
4 Homebuyer Tips To Make House Hunting More Efficient
January 6, 2022 | Posted by: Gregory Johnston
Maybe you have considered investing in real estate but aren't sure if it's the right move for you. There are several benefits to an investment property, from the pride of ownership to the monetary boo ... [read more]
Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario
December 15, 2021 | Posted by: Gregory Johnston
What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ... [read more]
Bank Of Canada Rate Update December 9, 2021
December 8, 2021 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate and forward guidance 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 ... [read more]
What to do if You Are Denied a Mortgage
November 24, 2021 | Posted by: Gregory Johnston
What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ... [read more]
How to Know if it's Time to Refinance Your Mortgage
November 10, 2021 | Posted by: Gregory Johnston
How to Know if it's Time to Refinance Your Mortgage According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refina ... [read more]
Bank Of Canada Rate Update Oct 27, 2021
October 27, 2021 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with ... [read more]
What Is Home Equity and How Can I Build It?
October 6, 2021 | Posted by: Gregory Johnston
Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen ... [read more]
Bank Of Canada Rate Update Sept 8, 2021
September 8, 2021 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower boun ... [read more]
What Happens if You Lose Your Job Before Closing?
August 4, 2021 | Posted by: Gregory Johnston
A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not ... [read more]
How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in Ontario
July 21, 2021 | Posted by: Gregory Johnston
When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include. Some common conditions deal with ... [read more]
Bank Of Canada Rate Update July 14, 2021
July 14, 2021 | Posted by: Gregory Johnston
Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ per ... [read more]
Risks of Putting Down a Firm Offer with a Pre-Approval Ontario
July 7, 2021 | Posted by: Gregory Johnston
Risks of Putting Down a Firm Offer with a Pre-Approval Today, the real estate market is competitive and homebuyers need all the help they can get to secure their home at the right price. Once you fin ... [read more]
Low Rates in Ontario Helping Buyers Pay Off Their Mortgages at Record Pace
June 30, 2021 | Posted by: Gregory Johnston
Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today's average rates, 61% ... [read more]
Bank Of Canada Rate Update June 9, 2021
June 9, 2021 | Posted by: Gregory Johnston
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 rat ... [read more]
