The headlines today are shouting about the Bank of Canada increasing their benchmark rate by 0.5%. This may have an impact on your payments if you are borrowing money, but lets have a look at a couple of things. First, if you are in a fixed rate mortgage, nothing is changing. If you are in […]

Remember, there is more to a mortgage than just the rate! In Canada, when applying for a mortgage, the Office of the Superintendent of Financial Institutions (OSFI) requires that borrowers undergo a stress test to ensue that they can continue to make payments if mortgage rates were to increase. To do this, the lenders use […]

When it comes time to making your mortgage payments, there are various options to chose from: • Monthly • Bi-Weekly • Weekly • Accelerated Bi-Weekly • Accelerated Weekly When you are completing your mortgage documents after the purchase of a home, you must select your payment option, but how do you know which to chose? […]

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reasons. Essentially, allowing you to pay off your existing loan and replace it with a new one that better suits your needs. When done properly, mortgage refinancing can result in a host of great benefits to further your […]