Blog

Mcap’s Response to Covid-19

With each day that passes, the COVID-19 situation continues to evolve, and along with it, new challenges.  At MCAP we have focused on business continuity while prioritizing the safety of our brokers, homeowners and employees. These are unprecedented times and we want to update you on some of our efforts over the past few weeks. Staying ...

Scotiabank Mortgage Authority’s Response to Covid-19

The following is an excerpt from an open letter written to mortgage brokers from Scotia Mortgage Authority’s vice president Garry Morrison.   The spread of COVID-19 has raised concerns for all of us. First and foremost, I hope that all of you and your families are staying safe and healthy during this unprecedented time. ...

What You Need to Know About the 2nd Emergency Bank of Canada Rate Cut

For the 3rd time this month the Bank of Canada cut the overnight lending rate. The current policy rate now sits at 0.25% which is a historical low.  The bank’s governor, Stephen Poloz, has indicated that this is the lowest the central bank is willing to drop rates and will consider other stimulus in ...

How Real Estate Lawyers Are Being Impacted by the Covid-19 Outbreak?

The covid-19 outbreak is changing the way the world does business. Industries and professions that are traditionally adverse to change and protected by long standing rigid practices are having to reinvent the wheel on the fly. Huge challenges face many professions but necessity is the father of invention as they say. Covid-19 is one ...

What You Need to Know About the ’emergency’ Bank of Canada Rate Cut

Bank of Canada cuts overnight rate by an additional 0.50%.   By this point we all know the headlines and understand the implications both personal and abroad caused by the spread of Covid-19.  I fully support the measures and appreciate the seriousness and importance of slowing the spread of the virus especially to the ...

Reverse Mortgages a Brief Introduction

Reverse mortgages are an increasingly common solution used by an aging Canadian population. It’s designed to allow homeowners to stay in their homes indefinitely as long as they are alive and residing in the property.   First a personal story about my parents and reverse mortgages. My parents sacrificed a lot for my brothers ...

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