by Katherine Martin | Mar 23, 2020 | Blog, Covid-19, Mortgage
In response to the Covid-19 crisis; for those individuals financially affected, banks and the government have announced that payment relief may be available for up to 6 months of deferred mortgage payments. As information is changing daily, or hourly, if you have...
by Katherine Martin | Mar 11, 2020 | Blog, Mortgage
As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It’s important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a...
by Katherine Martin | Mar 4, 2020 | Announcement, Blog, Mortgage
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. While Canada’s economy has been operating close to potential with inflation on target,...
by Katherine Martin | Feb 18, 2020 | Blog, Mortgage
Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of...
by Katherine Martin | Feb 12, 2020 | Blog, Mortgage
If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest...
by Katherine Martin | Jan 29, 2020 | Blog, Mortgage
As simple as porting your mortgage! Said by no one ever. The truth is, there is nothing simple about porting your mortgage. “Porting your mortgage” involves transferring the remainder of your existing mortgage term, outstanding principal balance, and...
