Will the May Inflation Decline Thwart Another Rate Hike in July? The May inflation data, released this morning by Statistics Canada, bore no surprises. The year-over-year (y/y) inflation measured by the Consumer Price Index (CPI) at 3.4% was just as expected–down a full percentage point from the April reading. This is the smallest increase since June 2021. Economists […]

How Job Loss Affects Your Mortgage Application. Whether you’ve made an offer on a home already or are still in the process of looking, you already understand that buying a home is likely the largest investment you’ll ever make. When it comes to your mortgage application, there are a few things that you should avoid […]

Second Mortgages: What You Need to Know. One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First […]

When you’re looking for a new mortgage or refinancing, lenders will look at both your debt servicing ratios and your credit score as part of the process. Your debt servicing ratios give lenders information about your ability to repay the money you borrowed, while your credit score provides information about the way you manage credit. […]

What You Should Know About Mortgage Amortization. Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free as well as how much interest you pay over the lifetime of your mortgage (longer […]

How to Pay Off Your Mortgage Faster. When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25-year amortization schedule, there are some ways you can pay off your mortgage quicker! 1. Review Your Payment Schedule: Taking a look at your payment schedule can be […]

3 Things You May Not Know About Cash-Back Mortgages. It can get pretty exciting to see campaigns around “cash-back mortgages” but, before you get too far along, here are three things you might not know about these types of mortgages: Occasionally you will see campaigns on cash-back mortgages, so don’t jump at the first one […]

Frequently (and not so frequently!) Asked Mortgage Questions. New to mortgages? Have questions but not sure where to start? We have the answers! What is the best interest rate I can qualify for? Your credit score plays a big role in the interest rate you can qualify for. The riskier you appear as a borrower, […]

5 Reasons You Don’t Qualify for a Mortgage. When it comes to shopping for a mortgage, it is important to know what you need to qualify – but it is just as important to understand some of the reasons why you DON’T qualify so that you can make some changes and budget accordingly for when […]

Construction and Pre-Construction Mortgages. Building or renovating your own home is such an exciting time and allows you to create something tailored to you and your family!  But when it comes to construction mortgages, there are a few different types of loans: new construction and even pre-construction.  Let’s break it down so you can determine […]