Understanding the difference between open and closed mortgage options is essential to making the right decision for your financial future when choosing a mortgage. These two mortgage types offer distinct features, and the best choice often depends on your priorities,...
The Bank of Canada has recently reduced its policy interest rate to 3.75%, marking a key shift aimed at supporting economic growth and increasing affordability for borrowers. This rate cut has significant implications for home buyers in 2024, particularly as mortgage...
On October 23, 2024, the Bank of Canada announced a reduction in its policy rate by 50 basis points, bringing it down to 3.75%. This move follows a significant decline in inflation, which is now nearing the bank’s 2% target. The decision aims to support the Canadian...
Owning a home is a dream for many, but when you’re working with a low income, it can feel like a pretty steep hill to climb—especially in Ontario’s competitive housing market. But don’t get discouraged! With the right strategies and a bit of planning, buying a house...
When it comes to securing a mortgage, choosing the right mortgage company is crucial. In Canada, mortgage companies must be licensed to operate legally and ensure consumer protection. However, unlicensed mortgage companies do exist, posing significant risks to...
Refinancing your mortgage can be a smart financial move, potentially lowering your monthly payments and saving you money over the life of your loan. However, it’s easy to make mistakes that can cost you more in the long run. In this guide, we’ll highlight...
