Further to the original announcement in early April, the new mortgage stress test released on June 1st has officially increased for home purchases and those looking to refinance. This has caused a decrease in their borrowing power by about 5%. To put this in perspective, if they were approved for 1 million dollars, that is reduced […]

The Time to act is now! If you or someone you care about has a mortgage with a discount below .50%, it might be worth it to redo your mortgage. Why? The lower variable rate discounts have reached an all time low. This opportunity may potentially save you money! Please note, it will be subject […]

We are so proud to announce we have teamed up with our banks to develop a special mortgage program to financially support our First Responders. On June 1st, there will be special discounted and cashback offers available for: Police Officers Paramedics Firefighters (Volunteer & Employed ) Correctional Services Border Services Search & Rescue (Volunteer & […]

As Canada emerges from the pandemic, its various industries are spinning back up, hoping beyond hope that their businesses not only recover, but come back stronger than ever. Without our small businesses, we don’t have anything. To that end, we’ve spoken to eight businesspeople across a cross-section of Canadian financial-based businesses, from trustees to loan […]

Long-awaited tweaks to the government’s First-Time Home Buyer Incentive came into effect on Monday. Nearly five months after the changes were first proposed, the Department of Finance and Canada Mortgage and Housing Corporation (CMHC) have enhanced the eligibility criteria for buyers in Toronto, Vancouver and Victoria. As a recap, the FTHBI is a shared-equity program […]

Bank of Canada Scales Back Bond Buying Today, the Bank of Canada held its target for the overnight rate at the effective lower bound of ¼ percent. The Bank is also adjusting its bond-buying program from weekly net purchases of Government of Canada (GoC) bonds of $4 billion to $3 billion. This adjustment to the amount […]

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 and the deposit rate at ¼ percent. The Bank continues to provide extraordinary forward guidance on the path for the overnight rate, reinforced and supplemented by the Bank’s […]

Reverse mortgages are continuing to gain popularity for homeowners above the age of 55 in Canada! For Canadians looking to retire, high debt, ongoing expenses, as well as a reduced income can be a challenge. This is where reverse mortgages can help! It is a NON taxable event meaning there is no risk of pension claw […]

Can the current housing market continue even with the impact of Covid-19? Absolutely, but we must address one key issue. Canada currently has a major deficit in housing with the country needing an additional 150,000 homes. The large influx of immigrants is proving to be a bit challenging for builders. Can the current housing market […]

Mortgage Market Stress Test  OSFI, our Federal regulator, has announced in efforts to “cool” the mortgage market they would like the 6 big banks to increase the qualifying rate from the current 4.79, to a minimum of 5.25 or 200 basis point above the “contract rate”. Read the full release here from our economist Dr. […]