Breaking Down the Bank of Canada’s Interest Rate Cut and Its Impact on Mortgages
Bank of Canada Cuts Interest Rates: What This Means for You Great news this morning! The Bank of Canada has cut interest rates by 25 basis points. While it was a close call with only a 50% chance leading up to the announcement, the Bank decided to provide some early relief to Canadians. This ...
3 Mortgage Red Flags to Avoid when Mortgage Shopping
I’m Chris Molder, a second-generation mortgage broker based in Toronto, also known as the Son of a Broker (SOB). With over 40 years of combined experience in the mortgage industry, I’ve seen firsthand how crucial it is to navigate the mortgage landscape carefully. In today’s post, I’ll share three red flags to watch out ...
Time to Rethink a Variable Rate Mortgage?
With the Bank of Canada expected to start cutting interest rates in the later half of 2024 is it time to revisit variable rate mortgages? TD Bank introduces a deeply discounted 5 year variable of Prime minus 1.01% (6.19%) Arguments for and against a variable rate mortgage right now Unusual Trend in 2021 ...
Osfi Mortgage Rule Changes 2025: What Homebuyers Need to Know
In the ever-evolving landscape of real estate, prospective homebuyers are often met with a myriad of factors to consider before making one of the most significant financial decisions of their lives. Among these considerations are mortgage rules, which play a crucial role in shaping the accessibility and affordability of homeownership. As we look ahead ...
Why Waiting to Save for a 20% Down Payment Could Cost You More
Are you a first-time homebuyer feeling overwhelmed by the daunting task of saving for a 20% down payment? In this video, we why explore why grinding to save 20% for your down payment may actually end up costing you more and reveal why an insured mortgage in Toronto might be the key to achieving ...
Rate Watch April 2024
Today, the Bank of Canada maintained its overnight lending rate, as anticipated. Many have speculated about a potential rate cut in June, but is it truly a foregone conclusion? In the realm of mortgages, few events generate as much speculation and anticipation as central bank meetings. Every decision made by institutions like the Bank ...