23 Sep

Fixed Rates Outweighing Variable

General

Posted by: Livian Smith

FIXED RATES OUTWEIGHING VARIABLE We are currently in a very unique situation when it comes to 5-year fixed and 5-year variable interest rates. For the first time in almost a decade, the lowest 5-year fixed interest rate is more than 0.30% lower than the lowest available variable interest rate for new mortgages. For some, their […]

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16 Sep

First Time Home Buyers Incentive Program

General

Posted by: Livian Smith

FIRST TIME HOME BUYERS INCENTIVE PROGRAM The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are […]

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16 Sep

August Data Confirm That Housing Has Turned The Corner

General

Posted by: Livian Smith

AUGUST DATA CONFIRM THAT HOUSING HAS TURNED THE CORNER Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the sixth consecutive month. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. […]

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27 Aug

Raise Your Credit Score In 3 Months

General

Posted by: Livian Smith

RAISE YOUR CREDIT SCORE IN 3 MONTHS While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with brokers. He had a client referred to him by a […]

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27 Aug

Stress Test Rate & Recent Decrease

General

Posted by: Livian Smith

STRESS TEST RATE & RECENT DECREASE Currently, all borrowers in Canada need to qualify for a new mortgage at the current Bank of Canada Benchmark Qualifying Rate or at their approved mortgage interest rate plus 2.0%, whichever is higher. For more than a year, this Bank of Canada Benchmark Qualifying Rate has been 5.34%. Now, […]

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8 Aug

4 Costs To Consider As A First-Time Homebuyer

General

Posted by: Livian Smith

4 COSTS TO CONSIDER AS A FIRST-TIME HOMEBUYER Oftentimes even the most organized and detail oriented first-time homebuyer can overlook some unexpected costs that come with the purchase of their new home. We are outlining 4 of the costs that we most commonly see overlooked by home buyers in hopes that we can better prepare […]

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6 Aug

Mortgages Are Like Coffee

General

Posted by: Livian Smith

MORTGAGES ARE LIKE COFFEE The most common question we get for mortgages is “what is your best rate?” Now imagine we walked into our local coffee shop and asked “what is your best price?” Doesn’t happen. There are all kinds of different coffees and lots of ways to make them. The same goes for mortgages. […]

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1 Aug

The Fed’s Quarter-Point Rate Cut Not The Start Of Something Big

General

Posted by: Livian Smith

THE FED’S QUARTER-POINT RATE CUT NOT THE START OF SOMETHING BIG The Federal Open Market Committee (FOMC) cut the overnight target rate by 25 basis points as expected today. Chairman Jerome Powell, however, said it was designed to “insure against downside risks” rather than to signal the start of multiple rate cuts. President Trump called […]

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30 Jul

Credit Reports: You’ve Scored! But Are You Playing The Game?

General

Posted by: Livian Smith

CREDIT REPORTS: YOU’VE SCORED! BUT ARE YOU PLAYING THE GAME? For most people, your personal credit score and how a credit score is calculated are complete mysteries. How can you be expected to play and be successful if you aren’t even told the rules of the game? There are things borrowers can do to improve […]

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