Bank of Canada Raises Key Interest Rate by 25 bps

Posted On Jan 25, 2023

The Bank of Canada has raised its overnight target rate by 25 basis points, bringing it to 4.50%. This is the Bank’s eighth consecutive rate hike and was expected by markets. Looking ahead, the Bank of Canada said it "expects to hold the policy...

Mortgage Tips: Income Tax for Self-Employed

Posted On Jan 24, 2023

Income tax time is coming!! - Are you self-employed? - Are you applying for a new mortgage in the next 6-18 months? I recommend consulting with a Mortgage Broker to help determine what income you need to verify on your taxes to qualify for the BEST...

Mortgage Tips: Housing Prices Year over Year

Posted On Jan 17, 2023

At the start of 2022, The Toronto Regional Real Estate Board predicted that sales would increase 12% leaving us with an average sale price of $1,225,000.We finished the year almost 10% below the average sale price in December 2021…what will they...

Mortgage Tips: Current Rates & Qualifying Amounts

Posted On Jan 04, 2023

Today's 5 year fixed rates range from 4.79%-5.24%, depending on the type of mortgage (purchase vs. refinance) and whether it's insured/high ratio or uninsured/conventional, and the length of amortization. This makes the avg 5 year fixed rate...

Mortgage Tips: Generating Wealth Through Rental Properties

Posted On Dec 31, 2022

Did you know you can use the equity from your rental property for things such as; buying another property, paying off debts (i.e. credit cards, car loan, etc.), investing in other portfolios, or simply putting cash in your pocket?  There can also...

Mortgage Tips: Bank of Canada Raises Overnight Rate by 50 Points

Posted On Dec 07, 2022

At 10am this morning (Dec 7, 2022), the Bank of Canada raised its overnight target rate by 50 basis points, bringing it to 4.25%. This mean banks and other financial institutions are expected to raise their Prime Rate in the coming days to 6.45%,...