In the past couple of years, we have enjoyed all-time low interest rates and now the financial landscape is changing somewhat with recent Bank of Canada interest rate increases. We saw many Canadians opting for variable mortgage rates and some are now asking if they should covert to a fixed mortgage

You may have heard some recent buzz in regards to potential mortgage rate increases coming soon. As a matter of fact, we have actually seen some lenders increase rates for fixed mortgages being offered in market recently

In the world of business ownership and side hustles, we seem to be engaging a lot more with individuals that are self-employed these days. Self-employed individuals face a different set of criteria when it comes to mortgage approvals. The applicant’s file usually goes through a stricter qualification review when compared to an applicant who is an employed by a company

With mortgage interest rates holding at historic low levels, many local families have become comfortable with the idea of a 25-year mortgage plan as the monthly payment can potentially become one that can be managed with relative ease. However, for those that wish to be “Mortgage Free” sooner, I’d like to share five strategies to get you to that mortgage-free state earlier.

The new stress test rules coming into effect for June 1, 2021 will have an impact on homebuyers with both insured and uninsured mortgages. For those that may not know, a stress test is a “what if scenario” and in this case, it’s what if the interest rate were to increase by two percentage points?

Setup your own TEAM for success

I’ve said it before that every successful person has a plan. That plan should be to form a TEAM in order to win you that next home bid in a competitive housing market. This team would include your trusted advisors.

Somebody once said that “every successful person has a plan” and for those wanting to save for a down payment toward their next home should most definitely should have a plan. In this article we will outline some of the points of the 50-30-20 budget rule that is an easy to follow guideline for those wanting to build that down payment amount or simply for those wanting to have a plan for their monthly family budgets.

The Year 2020 will be remembered for many concerning things. For many, not a year to remember and most folks I have talked to lately are happy and looking forward to the turn of the calendar and positive news in 2021. When it comes to the Metro Vancouver housing market and mortgage rates, many were actually caught off-guard with an increase in home prices and mortgage rates that are at historic lows and look to stay that way for the near future.

Just like there are different types of apples, there are different types of mortgages in Canada.  When it comes to mortgage types, there may not be 7500 types like them apples however, there are nine different options we look at in this mortgage blog. Some are a little sour and some are sweet but all in all, there is a little something for many mortgage shoppers. Let’s take a closer look at what is the best type of mortgage to get in Canada

This is truly a special summer for finances during these pandemic times. There are many attractive offers from banks and lenders and if you are looking to apply for a loan product such as a mortgage, a car loan or even a new credit card, then I have some tips you should consider along the way.

Many homeowners have built equity in their home as a result of appreciation over recent years. As a result, qualifying for a second mortgage has become a little easier over time. A home owner’s personal income or credit history are always important factors but in this case, the available home equity is a major consideration.

Your credit score is vital when getting approved for a mortgage. It’s no secret that the better your credit score is, the chance for receiving better rate offers increases accordingly. Here are some money management tips to improve your credit score and to improve your chance for a mortgage approval when you are ready to invest in your next home or investment property.