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It has been just over a year since the Bank of Canada started hiking interest rates. While the economy has remained surprisingly resilient, the housing market has weakened sharply. The Bank has remained on the sidelines for the past two Governing Council announcement dates, and home sales have edged upward ...
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When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25-year amortization schedule, there are some ways you can pay off your mortgage quicker! Review Your Payment Schedule: Taking a look at your payment schedule can be an easy ...
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In March, the global economy was focused on systemic risk in the banking sector. Following three bank failures in the U.S., markets were roiled again by the forced sale of Credit Suisse to UBS. Interest rates have plummeted as demand for the haven of government bonds has increased sharply. Consequently, ...
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Your payment schedule is the frequency with that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly, or even weekly payments. Below is a quick overview of what each of these payment frequencies means: Monthly Payments: A monthly payment is simply a single large payment, paid once ...
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The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.  That is welcome news for homeowners ...
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According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace. In some cases, sellers ...
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Did you know? March is fraud awareness month in the mortgage industry, which makes this is a great time to talk about title insurance! As our insurance experts, FCT is a leading provider of title insurance and has some helpful information for you:  For those who don’t know, title fraud can ...
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What the next few years will bring? Insights from Dr. Sherry Cooper  Update February 2023 Even bond traders and economists are stumped about what the next few years will bring. The repercussions of a global economy that stopped suddenly, shed millions of jobs and initially contracted 30% only to rebound ...
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A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such as credit cards and ...
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Economic Insights and Real Estate Market Prospects for 2023 and beyond. What a year this has been. In the face of red-hot inflation, the Bank of Canada raised its policy rate by a whopping 400 basis points to 4.25%. First to cool was the housing market, where buyers moved to ...
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Debt Consolidation Strategies. The holidays are a season of giving and often times, households can often find themselves carrying some extra debt as we enter the New Year. If you happen to be someone currently struggling with some post-holiday debt, that’s okay! Whether you’ve accumulated multiple points of debt from ...
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Explore the option of alternative lending. When traditional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative! If you’re seeking a mortgage, but your application doesn’t fit into the box ...
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How to Efficiently Manage Home Expenses Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, ...
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How to budget for the year ahead?   With the recent inflation and rising prices occurring across the country, it is time to take control of your finances. One of the quickest ways to understand where your money is going and where you can make changes is to create a ...
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Why Invest in a Home Inspection? While home inspections might not be the most exciting part of your home buying journey, they are extremely important and can save you money and a major headache in the long run. In a competitive housing market, there can sometimes be pressure to make ...
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Did you know? Approximately 15%+ of Canadians are self-employed, making this an important segment in the mortgage and financing space. When it comes to self-employed individuals seeking a mortgage, there are some key things to note as this process can differ from the standard mortgage. For self-employed individuals with an ...
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Tips on How to Sell Your Home in the Winter While you might think selling your home in winter is harder, with the right considerations it doesn’t have to be! When selling your home during warmer months, the focus is typically on curb appeal and gardening, as well as having ...
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  Make 2022 the year of finance by improving your financial direction from the start! Even if you are living paycheck-to-paycheck, a few changes to the way you spend and look at money can make all the difference. It’s never too late to start again and reverse course! Here are ...
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The holidays are coming up! As much as these celebrations bring us joy and harmony, they can also bring us stress. This is particularly true when it comes to your finances! However, don’t lose hope that this will be another draining year on your pocketbook. In fact, with a little ...
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With the changing of the seasons, it can be a good time to take stock of your home and ensure you are ready for the colder weather. Winterizing your home will help you feel more comfortable, save on bills and prevent future repair costs, there are some simple things you ...
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How to Efficiently Manage Home Expenses Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, ...
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Dreaming of a Home Away From Home? If you are dreaming of your very own vacation home, there are ways to make it happen! Let me walk you through your options. When it comes to taking on a vacation property, you will need to have a minimum down payment of ...
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Thinking of Moving? Tips for Selling in Today’s Market The housing market continues to favor sellers as we move into the summer months. If you’re thinking of selling, this is a great time to do so! Not only will your home likely be listed on the market for a shorter ...
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With recent Bank of Canada interest rate hikes, and more on the way, here is what you need to know about how these policy changes affect your mortgage. First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage. Depending on your mortgage amount, you’re ...
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5 Things to Consider When Building Your Own Home Building a new home is an exciting adventure but requires very different considerations. To help you have the best experience, here are 5 of the most important things to consider. So here are our new home building tips: It’s All In ...
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When it comes to home renovations with the best ROI, we know things can add up quickly! If you’re looking to update your home or make some changes to your space, there are a few simple things you can do that are affordable AND have a great return on investment: ...
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When it comes to a situation of job loss and mortgage application in process, there are a few things that you should avoid doing while you’re waiting for approval – such as making large purchases (i.e. a new car), applying for new credit, pulling additional credit reports, etc. Another issue ...
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Expert Advice on First-Time Homebuyer Tips Whether you’re currently in the process of looking for your first home, or have just started to think about it, I have some first-time homebuyer tips to help make your journey as easy as possible! Some of these you may already know about, and some ...
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As we move into the Fall market, there are some important things you should be aware of. This article will help you understand how to calculate your mortgage trigger points. While inflation has now likely peaked, we will still be dealing with the repercussions from these heightened levels for a ...
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The latest news has been focused on rising interest rates, surging inflation, and economic uncertainty with suggestions that the Canadian economy could be tripped into recession.  With all this information circulating, now is a good time to discuss ways to adapt your finances to inflation and protect your future. Fortunately, ...
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With recent Bank of Canada interest rate hikes, and more on the way, here is what you need to know about how these policy changes affect your mortgage. First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage. Depending on your mortgage amount, you’re ...
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Canada has seen a surge of international migration over the last few years. With all these new faces in town wanting to plant roots in this great country, it’s a good time to review some of the details surrounding mortgages and how individuals new to Canada can qualify to be ...
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Many Canadians are looking to retire but are currently facing high debt load and ongoing expenses, as well as reduced income.  This can be a challenge. A reverse mortgage can help!  Canadians can access up to 55% of your home’s equity and convert your home equity into cash.  Stay in ...
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The Busy Spring Market Spring is just around the corner. Get the best mortgage rates for the busy spring market! You might be anxious to buy or sell this season.  Let’s take a look at the trends for the upcoming Spring market.  From a seller’s perspective, this is the best ...
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Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! Well, you might have one kind of insurance, but you might be missing coverage elsewhere. It is important to ...
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According to the 2022 Canadian Housing Market Outlook Report from RE/MAX, steady growth is anticipated across the Canadian real estate landscape into 2022. While Canadians continue to recognize the value and investment potential of their home, market challenges (such as rising prices and limited supply) maintain their impact on local ...
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Step 1 – Your Credit Score Whether you qualify for a mortgage through a bank, credit union or other financial institution, you should be aiming for a credit score of 680. 680 for at least one borrower (or guarantor), especially if you are putting under 20% down. If you are ...
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Low Credit is Spooky! Get Better Credit With The 5 C’s Want to know how to get a better credit rating? Buying a home is an incredible step in life, but it is not without its hurdles! One of which is demonstrating that you are creditworthy, which all comes down ...
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5 Approval Roadblocks You Should Know When buying a home, there is nothing worse than having your mortgage broker or lawyer call and say “there is a problem”. If you have found your dream home and negotiated a fair price, and you have supplied all the documentation to your broker, ...
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Get the Scoop on Purchasing a Rental Property You might be surprised to learn that you don't need to be one of the uber rich or make six figures to have a second property. You just need to have knowledge, determination and financial planning! If you are purchasing a secondary ...
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Changes to the Stress Test and What You Need to Know As you may have heard, the Bank of Canada recently changed the stress test rules as of June 1, 2021. With these changes, now both insured and uninsured mortgage borrowers will be subject to a stricter stress test when ...
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Building Your Own Home? 5 Things to Consider Building a house is an exciting adventure and the ultimate way to customize your home. To ensure you have the best experience, I have put together 5 important things to know before getting started. 1. It’s All in the Numbers Whether you ...
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The Benefit of Rate Holds The term “rate hold” maybe something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! Rate holds are a great way to prepare yourself in many ways, especially if ...
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Time for a Mortgage Check-Up! There has never been a better time for your annual mortgage health check-up! By organizing a quick mortgage review each year, it may yield you some fruitful financial savings. Your home loan review this year will examine the most common potential monthly savings opportunities, including ...
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Preparing for the Spring Market and 6 Smart Ways to Cut Your Energy Costs! In the last decade, climate change and energy efficiency have become top of mind for many Canadians. From wanting to do our part by recycling to making our home as energy efficient as possible, there are ...
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Benefits of a Mortgage Broker In a world with an abundance of options, it can be hard to know which way to turn to ensure that you make the best decision for your future. Fortunately, that’s where we come in. As your dedicated mortgage professional, We have access to 90+ ...
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As we ease into 2021, we have some great tips to help get you started and refresh your space. From the Pantone of the Year for 2021 to annual mortgage check-up tips and home maintenance strategies, we have you covered! Thank you for your continued support and introductions! I hope ...
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Determining your credit score leaves people confused. What is it? What does it include? How is it calculated? These are all great questions that I will answer for you! Having a great credit score can save you thousands of dollars, if you know how to manage it. There are two ...
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Welcome to the December issue of my monthly newsletter! As we near the end of the year, you are probably thinking about your plans for 2021. Scroll down for some great resolutions for your home, and tips on how to make your finances work for YOU in the New Year ...
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Welcome to the November issue of my monthly newsletter! The holidays are just around the corner, as is the new year! With that, now is a great time to start planning for a debt-free holiday and thinking about winter-proofing your home! Plus, all you need to know about fixed vs ...
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Welcome to the October issue of my monthly newsletter! It is hard to believe it is already October. With the holidays closing in fast, many of us are already thinking about our budgets. Check out our tips inside to help you budget for the holidays! Plus, we have included a ...
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The top 3 misconceptions about reverse mortgages are! The Bank Owns Your Home. Your Estate Can Owe More Than Your Home The Best Time to take a Reverse Mortgage is at the End of Your Retirement Let’s examine each misconception in more detail. 1. The Bank Owns Your Home. Over ...
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Welcome to the September issue of my monthly newsletter! With the start of September, most of us are automatically thinking about back-to-school so, in the spirit of education, why not teach your kids about finances? Now is also a great time to get your credit in order before holiday spending ...
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Welcome to the August issue of my monthly newsletter! It's summertime and you know what that means! Vacation, vacation, vacation! If you have ever been interested in having your own vacation home (or even a second property), I have put together some great information below to get you started. For ...
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Welcome to the July issue of my monthly newsletter! With Summer just around the corner, now is the right time to look ahead. This month I have some great updates for you, including some important information on changes to the high ratio mortgage guidelines and what that means for your ...
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Welcome to the June issue of my monthly newsletter! Summer is just around the corner and I have some great articles for you this month! I have compiled some helpful tips on what you need to know BEFORE you start house-hunting, as well as why getting pre-approved matters. Plus, I ...
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Welcome to the May issue of my monthly newsletter! With Spring at our doorstep, now is a great time to do some Spring cleaning in the form of tidying up your monthly budget! Renovations are another popular activity this time of year, so I have included some tips for you ...
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Welcome to the April issue of my monthly newsletter! As your dedicated Dominion Lending Centres mortgage broker, I am happy to help guide you through the current climate amidst the COVID-19 pandemic. I understand that things can be stressful but I am here to help! In order to mitigate the ...
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Welcome to the March issue of my monthly newsletter! What you need to know before you buy your next home, refinancing our mortgage and 10 spring cleaning tips! I would love to hear back from you if you have any questions or feedback regarding anything outlined below. Thanks again for ...
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Attention Canadian Snowbirds. Canadian Snowbird Travel Insurance As of March 13th, 2020 the Canadian Government has put a global restriction on travel due to the COVID-19 pandemic. This means many current travel insurance policies will automatically be cancelled in 10 days. DO NOT PANIC. We do have a solution to ...
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Welcome to the February issue of my monthly newsletter! Leveraging your RRSP’s for the First-Time Homebuyer Plan, Things to consider if you are upsizing or downsizing and tips to make your home more sellable this Spring! I would love to hear back from you if you have any questions or ...
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Welcome to the January issue of my monthly newsletter! This month’s edition looks at improving your financial future, credit score and tips on                                                       ...
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Welcome to the December issue of my monthly newsletter! This month’s edition looks at the debate between Gen-Xers and Millennials and pride in homeownership. I would love to hear back from you if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and ...
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Welcome to the November issue of my monthly newsletter! This month’s edition looks at whether you should go fixed or variable and tax write-offs on your rental property. I would love to hear back from you if you have any questions or feedback regarding anything outlined below. Thanks again for ...
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Ob-sess(ed): the act of being preoccupied or fill the mind continually, intrusively and to a troubling extend. As mortgage consumers, we get obsessed with obtaining the best rate – we are caught in the cross-hairs of lender marketing. Lenders spend millions of dollars annually to pitch their message; some listen ...
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Welcome to the October issue of my monthly newsletter! This month’s edition looks at same-lender renewal rates and improving your credit score. Please let me know if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and referrals! Mortgage Renewals with the same ...
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Welcome to the September issue of my monthly newsletter! This month’s edition looks at 6 things any co-signor should consider and how mortgage brokers can help you at any stage in your life. I would love to hear back from you if you have any questions or feedback regarding anything ...
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Welcome to the August issue of my monthly newsletter! This month’s edition looks at 4 costs to consider as a first-time homebuyer and the mortgage default rate in Canada. I would love to hear back from you if you have any questions or feedback regarding anything outlined below. Thanks again ...
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Canadians continue to purchase US property and be among the major buyers of residential real estate in the United States. In fact, Canadians bought as many homes south of the border as the Chinese. But typically at a lower price point. That meant that while Chinese buyers bought U$13.4 billion ...
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Welcome to the July issue of my monthly newsletter! This month’s edition offers 5 tips to affording a home and the importance of a home inspection. Please let me know if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and referrals! 5 ...
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CAUTION: MORTGAGE PENALTIES AND EARLY EXIT Okay, so you have a mortgage. Maybe you want to exit early and you don't understand your mortgage penalties. Let’s face it, it’s a contract with terms, conditions, rights and obligations for both you and the lender. However, now for whatever reason, you need ...
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Welcome to the June issue of my monthly newsletter! This month’s edition looks at three steps to take you from pre-approval to homeowner and homeownership Vs renting. Please let me know if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and referrals! ...
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Anyone with a mortgage wants the lowest possible rate. But there’s an array of requirements for snagging the best all-around deal, and some of them are counter-intuitive. Once people have chosen the term and rate type for their mortgage, they often find that rates for that same term can vary ...
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Welcome to the May issue of my monthly newsletter! This month’s edition looks at accessing your home’s equity to invest and getting to know your lender. Please let me know if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and referrals! ACCESSING ...
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Welcome to the April issue of my monthly newsletter! This month’s edition looks at protecting your pre-approval and options for up or downsizing. Please let me know if you have any questions or feedback regarding anything outlined below. Thanks again for your continued support and referrals! Protecting your pre-approval People ...
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Welcome to the March issue of my monthly newsletter! Going through a divorce doesn’t mean you have to split from your home When we tie the knot with our soulmate, we assume it’s going to be forever. It’s pretty much written in the vows. Unfortunately, not all marriages have fairytale ...
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Welcome to the February issue of my monthly newsletter! The ABCs of Alternative Lending Most homebuyers want the best mortgage rate possible. That usually means turning to either the big banks, credit unions, or monoline lenders. In the mortgage business, these lenders a typically called “A” lenders. If you’ve got ...
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Welcome to the January issue of my monthly newsletter! Staying Cool in the 2019 Market With each New Year, comes the promise of renewal. But for some, the changing calendar can bring anxiety. Especially when it comes to finances. And if you’re getting all worried about mortgage rates after seeing ...
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This month’s Dominion Lending Centres Blog with Cameron Mackie.    At Dominion Lending Centres #Ontariolend we strive to provide you with the best information so you can take confident steps in home ownership. Do the Mortgage Check-up! In this blog, we will discuss the reasons why you should complete a ...
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This month's Dominion Lending Centres Blog with Cameron Mackie. THE PROS AND CONS OF CO-SIGNING FOR A MORTGAGE If you keep up on the news you know that qualifying for a mortgage is getting tougher and tougher. Someone who would have sailed through the application process 10 years ago could ...
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