Mortgage Blog
Trusted GTA and Southern Ontario Mortgage Solutions
Category: Mortgage (47 posts)
MORTGAGE UPDATE: NEW OFSI REGULATION FOR TRANSFER SWITCHES NO STRESS TEST
October 1, 2024 | Posted by: Gurbinder Sandhu
New OFSI Regulations: No Stress Test on Mortgage TransfersThe Office of the Superintendent of Financial Institutions (OFSI) has recently announced a significant update to mortgage regulations that wil ...
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New CMHC Regulations: What to Know About Insured Purchases Up to $1.5 Million and 30-Year Amortization
September 19, 2024 | Posted by: Gurbinder Sandhu
New CMHC Regulations: What to Know About Insured Purchases Up to $1.5 Million and 30-Year AmortizationThe Canadian Mortgage and Housing Corporation (CMHC) has recently introduced new regulations ...
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With Lower Interest Rates, Is Now a Good Time to Refinance My Mortgage?
September 6, 2024 | Posted by: Gurbinder Sandhu
With interest rates dropping, many homeowners ask the same question: Is now the right time to refinance my mortgage?* The simple answer? It could be! But as with most financial decisions, a few factor ...
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Sept 4th, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.25%
September 4, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. ...
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How Lower Interest Rates Could Benefit Canadian Homeowners: Is Now the Time to Refinance?
August 23, 2024 | Posted by: Gurbinder Sandhu
As a Canadian homeowner, you're probably hearing a lot of buzz about falling interest rates. You might be wondering, "Is this the right time to refinance my mortgage?" The short answer is, it could be ...
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What are Alternative Mortgage Lenders?
August 8, 2024 | Posted by: Gurbinder Sandhu
In the dynamic world of real estate, securing a mortgage can often be daunting, especially for individuals with unique financial situations. This is where alternative mortgage lenders come into play ...
read moreJuly 7, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.5%
July 24, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. ...
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7 Things to Know When You Are Looking to Purchase a Cottage or Vacation Home
July 8, 2024 | Posted by: Gurbinder Sandhu
Purchasing a cottage or vacation home can be an exciting venture, offering a perfect getaway from the hustle and bustle of city life. However, it's essential to approach this purchase with careful con ...
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7 Smart Strategies to Help Save Money on Your Mortgage
June 21, 2024 | Posted by: Gurbinder Sandhu
Hello, and welcome to our blog! If you're reading this, chances are you're looking for ways to make your mortgage more manageable. Whether you're a first-time homebuyer or a seasoned homeowner, findin ...
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How Lower Interest Rates Can Impact Your Mortgage: Insights for Canadians
June 7, 2024 | Posted by: Gurbinder Sandhu
How Lower Interest Rates Can Impact Your Mortgage: Insights for Canadians The Bank of Canada recently made headlines by lowering its interest rates for the first time in over two ye ...
read moreJune 5 - 2024 - Bank of Canada reduces policy rate by 25 basis points
June 5, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. ...
read moreWhen to Consider a Private Mortgage: A Guide for Canadian Homebuyers
May 23, 2024 | Posted by: Gurbinder Sandhu
Navigating the world of Canadian mortgages can be scary, especially when traditional lenders, like banks and credit unions, close their doors. This is where private mortgages come into play. For ...
read more5 Great Ways to Improve Your Credit Score
May 8, 2024 | Posted by: Gurbinder Sandhu
As a mortgage professional, we often work with clients who are eager to improve their credit scores. A higher credit score not only increases your chances of getting approved for a mortgage bu ...
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RRSP Home Buyers Plan
April 24, 2024 | Posted by: Gurbinder Sandhu
In 2024, the Canadian government made significant changes to the Registered Retirement Savings Plan (RRSP) Home Buyers' Plan (HBP), aiming to make homeownership more accessible, particularly for ...
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Paying off your mortgage early - The Pros and Cons
April 10, 2024 | Posted by: Gurbinder Sandhu
Certainly! Paying off your mortgage early is a significant financial decision that many Canadians grapple with. It can be an appealing goal, offering both financial freedom and peace of mind. That sai ...
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April 10-2024 - Bank of Canada maintains policy rate, continues quantitative tightening
April 10, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The Bank ...
read moreThe Impact of Canadian Economic Trends on Mortgage Rates: What You Need to Know
March 27, 2024 | Posted by: Gurbinder Sandhu
Navigating the world of mortgages can sometimes feel like trying to predict the weather in Canada: just when you think you've got it figured out, things change. But unlike the weather, understanding ...
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Unlocking the Door to Home Ownership: Simple Tips to Boost Your Credit Score
March 20, 2024 | Posted by: Gurbinder Sandhu
Hello, homebuyers and financial enthusiasts! Today, we're diving into a topic that's as crucial as it is misunderstood: your credit score. Think of your credit score like a key. The higher it is, the ...
read moreBank of Canada maintains policy rate, continues quantitative tightening
March 6, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e ...
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Managing Your Mortgage Renewal in a High-Rate Environment
February 10, 2024 | Posted by: Gurbinder Sandhu
Hello homeowners. With interest rates higher than they have been in many years, many of you might be anxious about your upcoming mortgage renewal. It's completely understandable, and you're not alon ...
read moreBank of Canada maintains policy rate, continues quantitative tightening
January 24, 2024 | Posted by: Gurbinder Sandhu
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e ...
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Navigating High Interest Rates: Strategies for New Home Buyers Across Canada
December 19, 2023 | Posted by: Gurbinder Sandhu
Introduction In today's economic landscape, we're seeing a trend that can be quite intimidating for anyone looking to step into the world of home ownership – high interest rates. But fear not! This ...
read moreNavigating Your Mortgage: Practical Tips from the Experts
December 14, 2023 | Posted by: Gurbinder Sandhu
Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today's e ...
read moreBank of Canada maintains policy rate, continues quantitative tightening
December 6, 2023 | Posted by: Gurbinder Sandhu
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The ...
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Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape
December 3, 2023 | Posted by: Gurbinder Sandhu
In recent years, we've witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn't just about swapping office desks for dinin ...
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Canada's New Updated Mortgage Charter
November 23, 2023 | Posted by: Gurbinder Sandhu
The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ...
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Understanding Fixed vs. Variable Rate Mortgages
November 15, 2023 | Posted by: Gurbinder Sandhu
If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ...
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6 things to know about capital gains and taxes for people across Canada
November 2, 2023 | Posted by: Gurbinder Sandhu
So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ...
read moreBank Of Canada Rate Update October 25, 2023
October 25, 2023 | Posted by: Gurbinder Sandhu
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ...
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Mortgage Strategies in a Rising Interest Rate Environment
October 24, 2023 | Posted by: Gurbinder Sandhu
Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ...
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Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?
October 6, 2023 | Posted by: Gurbinder Sandhu
Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ...
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Understanding and Utilizing Home Equity
October 1, 2023 | Posted by: Gurbinder Sandhu
If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ...
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Can a first-time home buyer have a mortgage co-signer?
September 17, 2023 | Posted by: Gurbinder Sandhu
Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ...
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Bank of Canada maintains policy rate, continues quantitative tightening
September 6, 2023 | Posted by: Gurbinder Sandhu
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ...
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Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.
August 23, 2023 | Posted by: Gurbinder Sandhu
Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ...
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Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience
August 5, 2023 | Posted by: Gurbinder Sandhu
Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ...
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Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada
July 27, 2023 | Posted by: Gurbinder Sandhu
Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r ...
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Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
July 12, 2023 | Posted by: Gurbinder Sandhu
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ...
read moreSome great tips to help you save for a home
June 13, 2023 | Posted by: Gurbinder Sandhu
A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ...
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Strategies for Speeding Up Mortgage Repayment
June 3, 2023 | Posted by: Gurbinder Sandhu
Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ...
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What is the difference between a mortgage agent and mortgage broker
April 23, 2023 | Posted by: Roar Solutions
When it comes to obtaining a mortgage, it can be confusing to understand the different roles of a mortgage agent and a mortgage broker. While both professionals can assist with the mortgage applicatio ...
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First-Time Home Buyer Budgeting: What You Need to Know
April 20, 2023 | Posted by: Gurbinder Sandhu
As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ...
read moreBank Of Canada Rate Update April 12, 2023
April 12, 2023 | Posted by: Gurbinder Sandhu
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ...
read moreBank of Canada Rate Update March 8, 2023
March 8, 2023 | Posted by: Gurbinder Sandhu
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at ...
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Selling Your Home in the Winter: How You Can Make the Most of It
March 5, 2023 | Posted by: Gurbinder Sandhu
Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...
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Title insurance and home insurance–protect what matters most
February 27, 2023 | Posted by: Gurbinder Sandhu
When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...
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Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening
January 25, 2023 | Posted by: Gurbinder Sandhu
The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...
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