Interest and CMHC Changes

Interest rates have been steadily increasing over the past few weeks. This should come as no surprise to anyone reading these newsletters. We do anticipate that rates will increase further before slowing down and probably heading back down to lower levels. Royal Bank is increasing their rates tonight, on the back of stronger bond yields… Continue reading Interest and CMHC Changes

The Bank of Canada: A Brief History

The Bank of Canada is the nation’s central bank. Established in 1935 through the Bank of Canada Act, the BoC’s main goal is to promote the economic and financial interests of Canada. Before the 1930’s there was no need for central banking due to Canada’s scattered and primarily rural economy. The branch bank network that… Continue reading The Bank of Canada: A Brief History

The ecoEnergy Retrofit – Homes Program

As part of the Government of Canada’s Economic Action Plan, the ecoEnergy Retrofit – Homes Program has been expanded to aid 200,000 homeowners in covering the cost of making their homes more energy efficient. The time-sensitive program includes a $300 million increase in funding over two years. In other words, the program provides non-taxable grants… Continue reading The ecoEnergy Retrofit – Homes Program

Getting the Most out of Your Payments

When it comes to your mortgage there are several payment frequencies you can choose from. The payment frequency refers to how often you will make mortgage payments. Not all payments offer savings on interest or will help you pay down your mortgage faster. Here is a simple breakdown of each payment type to help you… Continue reading Getting the Most out of Your Payments

Cash Back Mortgages: Not all They’re Cracked Up to Be

Buying a home can be one of the most financially stressful decisions we are faced with in our life times. Many first time home buyers feel like ripping out their hair while trying to come up with their down payment. You may have heard about the Cash-Back mortgage and think it sounds like a dream.… Continue reading Cash Back Mortgages: Not all They’re Cracked Up to Be