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Category: Mortgage (43 posts)

  • December 8, 2022 @ 8:17 PM
  • Posted by Siemens Group

The Pros and Cons of Fixed vs. Variable Mortgages

When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c

  • December 8, 2022 @ 5:54 PM
  • Posted by Siemens Group

The Pros and Cons of Locking In your Mortgage Rate

The Pros and Cons of Locking In The holiday season is upon us, bringing an end to a tumultuous year. 2022 saw inflation reach levels not seen for 40 years, followed by substantial interest rate hik

  • December 7, 2022 @ 7:58 PM
  • Posted by Siemens Group

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.

  • November 3, 2022 @ 1:32 PM
  • Posted by Siemens Group

Thinking of buying? Don't be put off by high rates.

2022 has already been tough on Canadians' wallets, and recent economic data shows the pain is unlikely to end soon. Inflation continues to run hot, and on October 26 the Bank of Canada further r

  • October 26, 2022 @ 4:00 PM
  • Posted by Siemens Group

Bank of Canada Rate Update October 26, 2022

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a

  • October 19, 2022 @ 5:28 PM
  • Posted by Siemens Group

Best Ways to Plan for Your Down Payment

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time.

  • October 11, 2022 @ 2:14 PM
  • Posted by Siemens Group

A fresh look at the opportunities in today's housing market from a mortgage perspective

When news reports present a consistently gloomy view of rising rates and the distinctly negative impact on the housing market, it's easy to feel discouraged. But the news frequently doesn't tell the f

  • September 16, 2022 @ 9:33 PM
  • Posted by Siemens Group

How Mortgage Rates Affect Buying Power?

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p

  • September 8, 2022 @ 2:22 PM
  • Posted by Siemens Group

A look at how rate increases impact different mortgage types

With inflation at its highest level in almost 40 years, the Bank of Canada continues to take drastic action to cool the economy with the latest of five consecutive rate increases announced on Septembe

  • September 7, 2022 @ 4:02 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update September 7, 2022

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate

  • August 24, 2022 @ 8:34 PM
  • Posted by Siemens Group

Should You Pay Off Your Mortgage Early?

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o

  • August 4, 2022 @ 1:44 PM
  • Posted by Siemens Group

Budgeting for Inflation

If you thought the end of the pandemic would bring a return to economic normalcy, 2022 has certainly been surprising. Summer has seen inflation return to the forefront of consumers' economic worries f

  • July 13, 2022 @ 6:05 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update July 13, 2022

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate

  • July 7, 2022 @ 5:20 PM
  • Posted by Siemens Group

Mortgage Fundamentals for Home Purchases

Mortgage Fundamentals for Home Purchases With interest rates continuing to rise, and housing markets beginning to cool, if you're considering a home purchase anytime soon, it's a good idea to revisit

  • July 7, 2022 @ 1:42 PM
  • Posted by Siemens Group

Mortgage Fundamentals for Home Purchases

With interest rates continuing to rise, and housing markets beginning to cool, if you're considering a home purchase anytime soon, it's a good idea to revisit some mortgage fundamentals to ensure you'

  • June 3, 2022 @ 7:56 PM
  • Posted by Siemens Group

How Rising Rates Can Affect Your Mortgage

The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level in 30 years and spurred the Bank of Canada to move toward a tighter monetary polic

  • June 1, 2022 @ 3:54 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update June 1, 2022

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at

  • May 26, 2022 @ 6:24 PM
  • Posted by Siemens Group

How a Mortgage Pre-Approval Can Protect You from Rising Rates

With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy

  • May 5, 2022 @ 9:06 PM
  • Posted by Siemens Group

The Tax Free First Home Savings Account (FHSA) explained

The Tax Free First Home Savings Account (FHSA) explained If you or someone you know is saving for a down payment on their first home, the Federal government announced a new program aimed at first-tim

  • May 4, 2022 @ 5:30 PM
  • Posted by Siemens Group

How is a Private Mortgage Different Than a Traditional Bank Mortgage

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate

  • April 13, 2022 @ 4:49 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update April 13, 2022

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼%

  • March 9, 2022 @ 4:17 PM
  • Posted by Siemens Group

Higher Interest Rates are Here. What Does That Mean for You?

The Bank of Canada has been signaling for a while now that they will respond to inflation by raising interest rates. Sure enough, on March 2nd they announced a hike in the overnight rate by 0.25%. H

  • March 2, 2022 @ 3:47 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update March 2, 2022

Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuin

  • January 26, 2022 @ 4:37 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update January 26, 2022

Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½

  • January 19, 2022 @ 9:32 PM
  • Posted by Siemens Group

Top 10 Questions to Ask Your Mortgage Broker in BC

Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces

  • January 5, 2022 @ 6:37 PM
  • Posted by Siemens Group

How Much of A Mortgage Can You Afford?

How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer's due diligence in calculating how much mortgage

  • December 23, 2021 @ 8:52 PM
  • Posted by Siemens Group

Sensible strategies to help you thrive in 2022

Canadians keep talking about the housing market! Are we in a housing bubble, will rates rise in 2022 and by how much, is this the right time to buy or refinance, is a lender's renewal offer the best

  • December 15, 2021 @ 7:34 PM
  • Posted by Siemens Group

Prequalification and Pre-Approval—What is the Difference? Home Buying in BC

What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter

  • December 8, 2021 @ 5:53 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update December 9, 2021

Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent an

  • November 26, 2021 @ 6:46 PM
  • Posted by Siemens Group

Preparing for Higher Rates

Given inflationary pressures, the Bank of Canada indicated in their last rate announcement that rate hikes could take place earlier than previously indicated, in mid-2022, which means variable rates t

  • November 24, 2021 @ 6:50 PM
  • Posted by Siemens Group

What to do if You Are Denied a Mortgage

What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f

  • November 3, 2021 @ 3:17 PM
  • Posted by Siemens Group

How to Know if it's Time to Refinance

How to Know if it's Time to Refinance According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits

  • October 27, 2021 @ 5:34 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update Oct 27, 2021

Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with t

  • October 6, 2021 @ 5:40 PM
  • Posted by Siemens Group

What Is Home Equity and How Can I Build It?

Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen

  • October 6, 2021 @ 4:25 PM
  • Posted by Siemens Group

What's Involved in Giving Your Child a Boost to Home Ownership?

What's Involved in Giving Your Child a Boost to Home Ownership? With the financial demands of school loans, living expenses, and finding a career path, many young people struggle to purchase their fi

  • September 8, 2021 @ 3:16 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update Sept 8, 2021

Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower boun

  • August 18, 2021 @ 6:27 PM
  • Posted by Siemens Group

Getting a Mortgage as a Student

Purchasing a home is most likely one of the most sizable purchases most of us will ever make, and finally, buying a home is a dream come true for most. For students, it may seem like this dream is fo

  • August 4, 2021 @ 4:42 PM
  • Posted by Siemens Group

What Happens if You Lose Your Job Before Closing?

A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not

  • July 21, 2021 @ 5:13 PM
  • Posted by Siemens Group

How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in BC

When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include. Some common conditions deal with

  • July 14, 2021 @ 6:40 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update July 14, 2021

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ perc

  • July 7, 2021 @ 7:32 PM
  • Posted by Siemens Group

Risks of Putting Down a Firm Offer with a Pre-Approval BC

Risks of Putting Down a Firm Offer with a Pre-Approval Today, the real estate market is competitive and homebuyers need all the help they can get to secure their home at the right price. Once you fin

  • June 28, 2021 @ 3:25 PM
  • Posted by Siemens Group

Low Rates in BC Helping Buyers Pay Off Their Mortgages at Record Pace

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today's average rates, 61%

  • June 9, 2021 @ 5:37 PM
  • Posted by Siemens Group

Bank Of Canada Rate Update June 9, 2021

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing The Bank of Canada today held its target for the overnight rat