OSFI Mortgage Rule Changes 2025: What Homebuyers Need to Know
In the ever-evolving landscape of real estate, prospective homebuyers are often met with a myriad of factors to consider before making one of the most significant financial decisions of their lives....
View ArticleTime to rethink a variable rate mortgage?
With the Bank of Canada expected to start cutting interest rates in the later half of 2024 is it time to revisit variable rate mortgages? TD Bank introduces a deeply discounted 5 year variable of...
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3 mortgage red flags to avoid when mortgage shopping
I’m Chris Molder, a second-generation mortgage broker based in Toronto, also known as the Son of a Broker (SOB). With over 40 years of combined experience in the mortgage industry, I’ve seen firsthand...
View ArticleBreaking Down the Bank of Canada’s Interest Rate Cut and Its Impact on Mortgages
Bank of Canada Cuts Interest Rates: What This Means for You Great news this morning! The Bank of Canada has cut interest rates by 25 basis points. While it was a close call with only a 50% chance...
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Bank of Canada delivers 25bps rate cut September 2024
The BOC announces a third consecutive 0.25% rate cut. The overnight lending rate fell to 4.25% (Lowest since December 2022) The retail prime rate (what you and I pay) will drop to 6.45%. The 25bps...
View ArticleAugust 2024 Inflation Update: A Milestone Towards Lower Rates
This morning, we got another encouraging mile marker on our journey towards lower interest rates. Stats Canada just released the August 2024 inflation figures, and guess what? Headline inflation came...
View ArticleCanada’s Economy in August: Flat as Interest Rates Weigh on Growth
In August, Canada’s economy didn’t see much movement, remaining flat as high interest rates continued to place pressure on consumers and businesses. Statistics Canada’s recent GDP report reveals that...
View ArticleBig News for First-Time Homebuyers: What the New 30-Year Amortization Means...
If you’re a first-time homebuyer, mark December 15th on your calendar because a major change is coming that could boost your budget and make homeownership more affordable. Starting on that date,...
View ArticleDefining Who’s a First-Time Home Buyers (FTHBs)
Exciting changes are coming for first-time home buyers (FTHBs) in Canada! Starting December 15, 2024, new rules will allow first-time homebuyers to extend their amortization to 30 years. This applies...
View ArticleBoC delivers a JUMBO 50bps rate cut
BoC delivers a 50bps rate cut just in time for the holidays. This morning, all eyes were on the Bank of Canada as they announced their final interest rate decision for the year. 👉 Click here to read...
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