Buying a home is very exciting, but obtaining a mortgage is not always easy. This is especially true for individuals who are self-employed or have a bad credit history. If you are in a unique financial situation, it is highly recommended that you work with a reputable mortgage broker. If you do not qualify for […]
If you want to lower your interest rate, access existing equity in your property, or consolidate and pay off debts, refinancing your mortgage may be a great idea. There are potential risks and costs associated with this option, however, and there are certain things you need to know before you refinance your mortgage in Fort […]
A mortgage is required to buy a home, and the following tips will increase your chances of getting your mortgage approved in Fort McMurray: 1. Check your credit score A higher score indicates your commitment to making loan repayments in the past, and lenders will appreciate this aspect because it means you are less likely […]
The decision to buy a home is one of life’s biggest financial decisions. One of the most critical pieces of the puzzle is deciding which type of mortgage is right for you. Two of the most popular types of mortgages are fixed rate mortgages and variable rate mortgages. Here is a breakdown of the differences […]
Good News on the Inflation Front in December The Consumer Price Index (CPI) rose 6.3% year over year in December, down from the 6.8% pace in November. Much of the decline was owing to the drop in gasoline prices. Additional deceleration came from homeowners’ replacement costs, fuel oil and other owned accommodation expenses, and various durable […]
Over the last 10 years, the Canadian prime interest rate has fluctuated significantly. From June 2009 to August 2010, the Bank of Canada’s key lending rate remained at 0.50%, before increasing to 1.0% in September 2010 and staying there until June 2015. Since then, the rate has been steadily moving up and down as the […]
When it comes to securing a mortgage for a new home or refinancing an existing one, working with a mortgage broker can be invaluable. Mortgage brokers are experienced financial professionals who act as intermediaries between borrowers and lenders. By using the services of a qualified mortgage broker, potential homeowners or those looking to refinance their […]
CMHC MAKES IT HARDER TO QUALIFY FOR AN INSURED MORTGAGE Once again, the Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down payment must purchase default insurance on their loan and have a […]
BANK OF CANADA PUTS THE ECONOMY ON LIFE SUPPORT Bank of Canada Stands Ready To Do Whatever It Takes On the heels of a devastating decline in the Canadian economy, the Bank of Canada is taking unprecedented actions. With record job losses, plunging confidence and a shutdown of most businesses, this month’s newly released Monetary […]
INTEREST RATES NOSEDIVE AS BANK OF CANADA CUTS RATES 50 BPS The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to do more if necessary. The BoC lowered its target […]
“Charlene is the most professional broker I know! Her advice and experience is amazing and it shows in her work. She is very prompt in getting back to you and ensures you understand the process. It was a pleasure working with her and I highly recommend her to help anyone with the purchase of their home. She was able to get us approved in no time and followed up with us every step of the way to ensure a smooth process. Choose Charlene and you won’t be disappointed”
