The Bank of Canada raised its key lending rate by 0.75% today. This means most lenders will raise their prime rate to 5.45%. Watch the video below to learn how this will affect your mortgage. If you are in a fixed rate mortgage, nothing changes for you. For Variable Rate […]
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The fact is there’re more questions being created by daily twists and turns in all areas of our lives than there are answers. What we each do is we try to make the best decision we can with the information at hand at that moment in time. And if we […]
Yes, the Bank of Canada raised its key lending rate by 1.00% today, as expected. This means most lenders will likely increase their prime rate to 4.70%. With every big rate move, this increase comes with a lot of questions from homeowners about how they’ll be affected. Watch this video […]
Let me ask you the same question worded differently; Will your mortgage interest rate triple? If rates triple, then payments increase 45%. Let’s go deeper, using 2% as a starting rate, because that’s who the BOC is worried about – you 2%’ers. If rates double, to 4%, the payment rises […]
As expected, the Bank of Canada raised prime rate by 0.50% on June 1st. Watch this short video on what it means for you and your mortgage: Variable Rates: Variable rate mortgages or variable home equity lines of credits (HELOC’s), may or may not see a monthly payment increase. Your […]
Life can sometimes become overwhelming and in today’s world it seems life is hectic and stressful. There is the rising cost of living, keeping your social circle active as well as running a home and all while working. Not to mention stress we get from listening to the news. Sometimes […]
As many of you may have already heard, today the bank of Canada increased its rates again by half a percentage point to one percent, in its latest move to rein in high inflation. It’s the biggest one-time increase in central bank’s rate since 2000. Economists were expecting the move, […]
This year, I encourage you not to set any resolutions. Yes, that is exactly what I said, do not set any resolutions. Let me explain. We all know we start the year and our resolutions with great intention; however, a large percentage of us will fall off the wagon. So […]
I like to review all the payment options for mortgage plans because they each have their benefits and it’s important to choose the plan that works best for you. When it comes to accelerated vs. regular (non-accelerated), it’s fair to say that accelerated will save you money in the long […]
It’s not easy to save money – that is the honest truth. And it certainly isn’t easy to save in big amounts. But it doesn’t mean we can’t make an effort to save small amounts in our daily routines. Here are 3 ways to put some dollars back into your […]
