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Category: Mortgage (71 posts)

Canada's New Updated Mortgage Charter

November 23, 2023 | Posted by: Matt Broom-Hall

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ...

Understanding Fixed vs. Variable Rate Mortgages

November 15, 2023 | Posted by: Matt Broom-Hall

If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ...

6 things to know about capital gains and taxes for people across Canada

November 2, 2023 | Posted by: Matt Broom-Hall

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ...

Bank Of Canada Rate Update October 25, 2023

October 25, 2023 | Posted by: Matt Broom-Hall

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ...

Mortgage Strategies in a Rising Interest Rate Environment

October 24, 2023 | Posted by: Matt Broom-Hall

Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ...

Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

October 6, 2023 | Posted by: Matt Broom-Hall

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ...

Understanding and Utilizing Home Equity

October 1, 2023 | Posted by: Matt Broom-Hall

If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ...

Can a first-time home buyer have a mortgage co-signer?

September 17, 2023 | Posted by: Matt Broom-Hall

Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ...

Bank of Canada maintains policy rate, continues quantitative tightening

September 6, 2023 | Posted by: Matt Broom-Hall

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ...

Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

August 23, 2023 | Posted by: Matt Broom-Hall

Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ...

Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

August 5, 2023 | Posted by: Matt Broom-Hall

Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation put ...

Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

July 27, 2023 | Posted by: Matt Broom-Hall

Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical represent ...

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

July 12, 2023 | Posted by: Matt Broom-Hall

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ...

Some great tips to help you save for a home

June 13, 2023 | Posted by: Matt Broom-Hall

A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ...

Time to Switch from a Variable-Rate to a Fixed-Rate Mortgage?

June 12, 2023 | Posted by: Matt Broom-Hall

The financial world has been shaken up recently with a rapid climb in interest rates. The Bank of Canada has seen an unparalleled nine increases between March 2022 and June 2023, pushing the standard ...

Increased Rates Shadowing Your Upcoming Mortgage Renewal? Learn How You Could Save Thousands!

June 10, 2023 | Posted by: Matt Broom-Hall

As the Bank of Canada introduced new rate increases and fixed rates incrementally rise, many homeowners, perhaps including yourself, are understandably feeling a sense of unease about upcoming mortgag ...

Fast-Track Your Mortgage Repayment - Top Strategies Revealed!

June 6, 2023 | Posted by: Matt Broom-Hall

Owning a home debt-free is the dream, isn't it? Who wouldn't want to shake off the shackles of their mortgage ahead of schedule? Yes, the typical Canadian mortgage may span 25 years, but you can outsm ...

Bank Of Canada Rate Update April 12, 2023

April 12, 2023 | Posted by: Matt Broom-Hall

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ...

Variable Rate Mortgages: Madness or Money-Saving Strategy?

March 16, 2023 | Posted by: Matt Broom-Hall

Is It Crazy To Consider A Variable Rate In Today’s Market? When considering a mortgage, one of the biggest decisions you will make is whether to go for a fixed or variable rate. A varia ...

The Life of a Deposit – From Realtor to Close

March 9, 2023 | Posted by: Matt Broom-Hall

The Life of a Deposit – From Realtor to Close Buying a property can be overwhelming. Knowing who does what, where your money goes and all the ins and outs will provide you with some peace of ...

Bank of Canada Rate Update March 8, 2023

March 8, 2023 | Posted by: Matt Broom-Hall

Selling Your Home in the Winter: How You Can Make the Most of It

March 5, 2023 | Posted by: Matt Broom-Hall

Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...

Title insurance and home insurance–protect what matters most

February 27, 2023 | Posted by: Matt Broom-Hall

When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...

Understanding the Mortgage Renewal Process in Canada: A Guide for Homeowners

February 24, 2023 | Posted by: Matt Broom-Hall

Understanding the Mortgage Renewal Process in Canada: A Guide for Homeowners As a homeowner in Canada, understanding the mortgage renewal process is essential for making informed decisions about your ...

Everything You Need to Know About Mortgage Rate Holds in Canada

February 23, 2023 | Posted by: Matt Broom-Hall

Everything You Need to Know About Mortgage Rate Holds in Canada If you're planning to buy a home in Canada, you may have heard about mortgage rate holds. A rate hold is an agreement between a borrowe ...

Mortgage Brokers: Your Complete Guide to Understanding and Using Them

February 2, 2023 | Posted by: Matt Broom-Hall

Mortgage Broker: Understanding the Benefits and Roles Are you looking to purchase a home and wondering if it's better to go through a mortgage broker or directly through a bank? This article aims to ...

Mortgage Down Payment Canada: A Guide to Understanding Your Options

February 2, 2023 | Posted by: Matt Broom-Hall

Mortgage Down Payment Canada: Understanding the Requirements and Options When buying a house in Canada, one of the biggest expenses is the down payment. In this article, we will answer some frequentl ...

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

January 25, 2023 | Posted by: Matt Broom-Hall

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...

How to Handle a Mortgage After a Separation or Divorce in Edmonton, Alberta

January 4, 2023 | Posted by: Matt Broom-Hall

Mortgage Life After Separation and Divorce Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial conseq ...

Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!

January 4, 2023 | Posted by: Matt Broom-Hall

Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ...

Should You Spend the Full Mortgage Amount You're Approved For?

December 28, 2022 | Posted by: Matt Broom-Hall

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

The Pros and Cons of Fixed vs. Variable Mortgages

December 8, 2022 | Posted by: Matt Broom-Hall

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 ...

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

December 7, 2022 | Posted by: Matt Broom-Hall

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 ...

Bank of Canada Rate Update October 26, 2022

October 26, 2022 | Posted by: Matt Broom-Hall

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 ...

Best Ways to Plan for Your Down Payment

October 19, 2022 | Posted by: Matt Broom-Hall

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. ...

How Mortgage Rates Affect Buying Power?

September 16, 2022 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update September 7, 2022

September 7, 2022 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update July 13, 2022

July 13, 2022 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update June 1, 2022

June 1, 2022 | Posted by: Matt Broom-Hall

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 ...

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

May 26, 2022 | Posted by: Matt Broom-Hall

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 ...

How is a Private Mortgage Different Than a Traditional Bank Mortgage

May 4, 2022 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update April 13, 2022

April 13, 2022 | Posted by: Matt Broom-Hall

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% ...

Bank Of Canada Rate Update March 2, 2022

March 2, 2022 | Posted by: Matt Broom-Hall

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 contin ...

Bank Of Canada Rate Update January 26, 2022

January 26, 2022 | Posted by: Matt Broom-Hall

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 ...

Top 10 Questions to Ask Your Mortgage Broker in Sherwood Park and Edmonton Alberta

How Much of A Mortgage Can You Afford?

January 5, 2022 | Posted by: Matt Broom-Hall

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 ...

What to Look for in an Edmonton Mortgage Broker

January 4, 2022 | Posted by: Matt Broom-Hall

Getting a mortgage broker is similar in some ways to getting a financial advisor. You'll need one if you don't have the expertise to choose the best loan terms for your home purchase. Mortgage brokers ...

Prequalification and Pre-Approval—What is the Difference? Home Buying in Sherwood Park and Edmonton Alberta

December 15, 2021 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update December 9, 2021

December 8, 2021 | Posted by: Matt Broom-Hall

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 ...

Mortgage Updates & Best Rates

December 1, 2021 | Posted by: Matt Broom-Hall

As we sunset November and set our eyes on the holiday cheer of December, let me be the first to wish you a happy and healthy holiday season.Over the past few weeks, the most common question I get ...

What to do if You Are Denied a Mortgage

November 24, 2021 | Posted by: Matt Broom-Hall

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 ...

How to Know if it's Time to Refinance

November 3, 2021 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update Oct 27, 2021

October 27, 2021 | Posted by: Matt Broom-Hall

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 ...

What Is Home Equity and How Can I Build It?

October 6, 2021 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update Sept 8, 2021

September 8, 2021 | Posted by: Matt Broom-Hall

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 ...

Getting a Mortgage as a Student

August 21, 2021 | Posted by: Matt Broom-Hall

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 ...

What Happens if You Lose Your Job Before Closing?

August 4, 2021 | Posted by: Matt Broom-Hall

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 ...

How a Financing Condition Can Save Purchasers From Financial and Legal Penalties

July 21, 2021 | Posted by: Matt Broom-Hall

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 ...

Bank Of Canada Rate Update July 14, 2021

July 14, 2021 | Posted by: Matt Broom-Hall

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 per ...

Risks of Putting Down a Firm Offer with a Pre-Approval Sherwood Park and Edmonton Alberta

July 7, 2021 | Posted by: Matt Broom-Hall

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 ...

Low Rates in Sherwood Park and Edmonton Alberta Helping Buyers Pay Off Their Mortgages at Record Pace

June 28, 2021 | Posted by: Matt Broom-Hall

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% ...

Bank Of Canada Rate Update June 9, 2021

June 9, 2021 | Posted by: Matt Broom-Hall

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 ...

A Nice Home Or A Nice Neighbourhood: Which Matters More?

May 13, 2021 | Posted by: Matt Broom-Hall

A Nice Home Or A Nice Neighbourhood: Which Matters More?When you start shopping for a home, you probably have a very specific image of what you would like that home to look like. You probably also see ...

Multi-Family Lending: What You Need To Know About Hard Money Loans in Edmonton, Alberta

March 25, 2021 | Posted by: Matt Broom-Hall

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...

Edmonton Reverse Mortgage Week! Post 2: Who Gets Ownership & What Will You Owe?

March 23, 2021 | Posted by: Matt Broom-Hall

Now that we've talked about 'what' a reverse mortgage is - it's time to discuss ownership and how much you'd owe. Many of our clients preserve a large portion of the equity in their home and our reve ...

Edmonton Reverse Mortgage Week! Post 4: Myths Debunked & Customer Stories

March 23, 2021 | Posted by: Matt Broom-Hall

Reverse mortgages have come a long way. They have evolved from a needs-based product to a solution that many financial planners recommend as an important component of a comprehensive retirement plan. ...

Edmonton Reverse Mortgage Week! Post 3: Can You Use a Reverse Mortgage to Purchase a Home?

March 22, 2021 | Posted by: Matt Broom-Hall

Many retirees take out a reverse mortgage to boost their retirement income, pay for home renovations, give financial help to family members or to help them pay off debt while staying in their current ...

Edmonton Reverse Mortgage Week! Post 1: What Is A Reverse Mortgage?

March 20, 2021 | Posted by: Matt Broom-Hall

The number of reverse mortgages in Canada has almost tripled over the past 5 years, and interest in this product from clients right across the country continues to accelerate. That is why it is ...

Should You Pay Off Your Mortgage Early?

December 28, 2020 | Posted by: Matt Broom-Hall

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 ex ...

Why Borrowers May Choose a Private Mortgage in Edmonton, Alberta

February 26, 2020 | Posted by: Matt Broom-Hall

Why Borrowers May Choose a Private Mortgage When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options. However, the ...

Mortgage Checklist

February 19, 2019 | Posted by: Matt Broom-Hall

Mortgage Checklist 1. Determine your Budget Determine what your monthly budget is for the following: - Mortgage payment - Property taxes and Condo fees (if applicable) - Utilities, maintenance an ...

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Category: Mortgage (71 posts)

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