Canadians believe they will need to save up $1.7 million to retire, up 20 per cent from 2020, according to a study published by BMO Financial Group on Tuesday. “While the anticipated headwinds in 2023 will understandably prompt concerns about how inflation and interest rates will affect our finances, Canadians remain resilient and are taking […]

The Benefits of Refinancing: – Access a lower interest rate than the rate on your other debts; – Consolidate your debt into one, simple & convenient payment; – Modify your current mortgage by extending or reducing the number of years remaining on your mortgage amortization; – Access equity within your home to complete home renovations; […]

A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally, people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such as credit cards and student loans) that a second […]

I’m so honoured to announce that I’ve been selected as a finalist for one of the Tammy Moyer Woman Of Worth Awards, sponsored by Global TV! They have such an inspiring event planned on February 26th from 1-5 pm with MC Coleen Christie from Global, keynotes, entertainment, prizes and more. Details and early bird registration […]

While we are all still feeling the pressures of inflation, there is finally some relief in sight. Interest rate hikes are slowing down for Prime Rate and the best part is that fixed rates have come down from their highs. With that in mind, we want to ensure all our clients are able to get […]

As expected, the Bank of Canada raised the overnight lending rates by 0.25%. This means your monthly payments will increase by approx. $13 per $100,000 on a most variable rate mortgage and/or line of credit, with the exception of if you have a static payment, then the amortization increases. While it is an increase, we have had a slowdown in […]

No Surprises Here: The Bank of Canada Hiked Rates By Only 25 BPS, Signalling a Pause As expected, the Bank of Canada–satisfied with the sharp decline in recent inflation pressure–raised the policy rate by only 25 bps to 4.5%. Forecasting that inflation will return to roughly 3.0% later this year and to the target of […]

OSFI Is At It Again Late last week, the Office of the Superintendent for Financial Institutions (OSFI) announced it was concerned about the risks associated with the large and rising number of highly indebted borrowers, especially those with floating-rate mortgages, which stands at a record proportion of outstanding mortgage loans.  With the economy in danger […]

Good News On The Inflation Front In December The Consumer Price Index (CPI) rose 6.3% year over year in December, down from the 6.8% pace in November. Much of the decline was owing to the drop in gasoline prices. Additional deceleration came from homeowners’ replacement costs, fuel oil and other owned accommodation expenses, and various durable […]

December Housing Data Ended 2022 on a Weak Note Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up month-over-month in December while new listings plummeted and national home prices fell again.  Home sales recorded over Canadian MLS® Systems increased 1.3% between November and December 2022. Ottawa and Edmonton […]