Variable Rates Are on the Move! Now’s the Time to Act.

Now’s the time to act. The ultra low variable rates we’ve enjoyed for most of the year are going into hibernation. Last week a few leading lenders tightened up their guidelines for qualifying borrowers. Over the weekend a few more lessened the discount off the prime rate they’ve been offering, by up to 15 basis… Continue reading Variable Rates Are on the Move! Now’s the Time to Act.

Real People, Real Mortgages: Danny [Self-Employed]

Danny was a self-employed contractor who owned both his principal residence and a rental property. He had been using as many deductions as possible at tax time, so his taxable income was quite low in comparison to the amount of business he had performed.  His income was also quite varied from year to year. Because… Continue reading Real People, Real Mortgages: Danny [Self-Employed]

The American Federal Reserve Just left Rates Unchanged: How will this affect your mortgage?

The Market Response: Government of Canada Bond Yields immediately dropped by 5% in the wake of the announcement. The Loonie on the other hand rose slightly, while a further dip was likely had there been a rate hike. Oil wasn’t noticeably affected by the announcement, but overall the markets certainly approved. What the Federal Reserve… Continue reading The American Federal Reserve Just left Rates Unchanged: How will this affect your mortgage?

Real People, Real Mortgages: Margot & George [Credit Solutions]

George lost his job a month before Margot had their first baby. Turning to their bank, they were offered a lot of unsecured debt at high interest rates which they accepted in a panic. Over the next few months, with increasing living expenses for the baby, their credit began a downward spiral. When George finally… Continue reading Real People, Real Mortgages: Margot & George [Credit Solutions]

Canadian Economic Limbo

Unsure what to make of the Canadian economy? Don’t worry, you’re not alone.  Economists, bankers, politicians, even the venerable Bank of Canada (BoC) can’t agree where we stand at the moment. The BoC is stuck in a holding pattern hoping that the two rate cuts it delivered to the market this year will be enough… Continue reading Canadian Economic Limbo