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The Tax-Free First Home Savings Account (FHSA): A Smart Way to Save for Your First Home

2023-08-01 | 11:38:09 Introduced by the federal government in 2023, this account allows first-time homebuyers to save up to $8,000 per year, tax-free, with a maximum lifetime contribution of $40,000.  The funds can be used towards the purchase of a home, providing a...

Who needs a bridge loan?

2023-04-13 | 08:55:50 Anyone who has sold their home and bought another one, but the purchase completes before the sale.This means the money from the sale won't be available in time, so bridge financing (aka a bridge loan) is a short-term loan that allows you to...

Federal Budget - what did it do for mortgage payment stress?

2023-04-13 | 08:37:52 We all know that both fixed and variable mortgage rates have risen significantly in the last year.  Anyone renewing a fixed rate mortgage is now suffering the effects, and variable rate mortgage borrowers have been suffering for many months. It'...

Buying in a Recession – Why?

2023-04-13 | 08:26:21 We’re not technically in a recession, but let’s face facts – we’re heading into one.  We’re moving there as a consequence of the Bank of Canada continually raising interest rates to combat inflation.  They’re stopped increasing the...

Bank of Canada met. Mortgage Prime rate remains at 6.70%.

2023-04-13 | 08:09:59 Yesterday, the Bank of Canada (BoC) announced that it will keep its benchmark interest rate the same, making it the second consecutive month that it has not changed. This is part of a cautious shift away from the Bank's previous approach (over...

What’s Happening with Mortgage Rates?

2022-11-03 | 11:39:21 OK, we know mortgage rates have been increasing for most of this year.  What has caused this, and what’s in the future?  I know you’re a very knowledgeable reader, but a little bit more knowledge could be useful.  This is a pretty short read,...