Mortgage Blog

Category: Financing (14 posts)

2021 Mortgage Stress Test - Latest Updates

2021 Mortgage Stress Test - Latest Updates

April 21, 2021 | Posted by: Jason Woods

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ...

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April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21, 2021 | Posted by: Jason Woods

Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ...

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April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 12, 2021 | Posted by: Jason Woods

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ...

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Multi-Family Lending: What You Need To Know About Hard Money Loans

Multi-Family Lending: What You Need To Know About Hard Money Loans

March 8, 2021 | Posted by: Jason Woods

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...

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How Good vs Bad Debt Impacts Your Household

How Good vs Bad Debt Impacts Your Household

January 27, 2021 | Posted by: Jason Woods

In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...

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3 Tips on How to Better Your Credit Score

3 Tips on How to Better Your Credit Score

December 9, 2020 | Posted by: Jason Woods

Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...

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How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

July 24, 2019 | Posted by: Jason Woods

It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...

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3 Simple Ways to Repair Your Credit

3 Simple Ways to Repair Your Credit

July 10, 2019 | Posted by: Jason Woods

For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ...

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3 Smart Ways to Use a Home Equity Line of Credit

3 Smart Ways to Use a Home Equity Line of Credit

March 13, 2019 | Posted by: Jason Woods

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...

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Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

September 26, 2018 | Posted by: Jason Woods

When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...

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Real Estate: How to Refinance a Mortgage with a Bad Credit Score

Real Estate: How to Refinance a Mortgage with a Bad Credit Score

July 11, 2018 | Posted by: Jason Woods

There are many excellent reasons a homeowner may look into refinancing their mortgage. To refinance means to replace your current mortgage with a new one, almost always with a lower interest rate. For ...

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Planning to Refinance Your Mortgage? Ask These 4 Questions First

Planning to Refinance Your Mortgage? Ask These 4 Questions First

April 11, 2018 | Posted by: Jason Woods

Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ...

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Why You Need an Emergency Fund And How to Get One

Why You Need an Emergency Fund And How to Get One

January 31, 2018 | Posted by: Jason Woods

Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...

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Strategies to Dig Yourself Out of the Debt Hole

Strategies to Dig Yourself Out of the Debt Hole

December 27, 2017 | Posted by: Jason Woods

Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ...

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