How to Reduce Payment Shock at Renewal Time

News How to Reduce Payment Shock at Renewal Time By now, “trigger points” should be in the vocabulary of nearly every variable rate mortgage holder. There’s been a great deal of coverage lately about trigger points due to the rise in interest rates so far this year....

Bridge Loans: What are they and how do you use them?

News Bridge Loans: What are they and how do you use them? Anyone who has bought and sold a home in the past knows it can sometimes be tricky to get the closing dates on both deals to line up perfectly.   This is often crucial for a buyer since they normally rely on...

Bank of Canada Raises Rate by 100 bps

News Bank of Canada Raises Rate by 100 bps The Bank of Canada raised its key lending rate by 100 basis points this morning, bringing it to 2.50%.  The Bank said inflation is “higher and more persistent” than what it had forecast in April, and will likely remain...

Your Mortgage Renewal Questions Answered

News Your Mortgage Renewal Questions Answered Many homeowners dread mortgage renewal time, especially when interest rates are rising as they are today. It means you’ll likely be resetting your mortgage at a higher rate, with higher monthly payments. But as always, you...

Bank of Canada Raises Rate by 50 bps

News Bank of Canada Raises Rate by 50 bps As expected, the Bank of Canada has raised its key lending rate by 50 basis points, bringing it to 1.50%. In its statement accompanying the decision, the Bank said, “the risk of elevated inflation becoming entrenched has...