First Time Home Buyers and the 5 C’s of Credit

There's a lot to know before you buy a house but today we're here to tell you about the 5 C's of credit: Character, Capacity, Capital, Collateral, and Conditions. These 5 C's together come together for one more important C we'll tell you about later! Character When...

Global Trade Uncertainty Leads to Lower Mortgage Rates

In May when the Bank of Canada released its statement that they would not be increasing interest rates, almost nobody was surprised. In fact, there were a few who thought it meant that down the line we would see the central bank making cuts to its interest rates. This...

Playing House Before Buying One

When you were a kid did you ever play house? Pretend what kind of place you'd live in, who you'd live with, and how many dogs you'd have? You probably pretended to make meals, do the cleaning, and solve arguments, but did you pretend to pay the bills? If you're...

Consolidating Credit Card Debt

Credit cards might make us feel shiny and satisfied when we use them. But they can also make us feel a bit (or a lot) of dread when the bill shows up in the mailbox (or the inbox.) Credit cards can be a great tool to help young and new Canadians build credit, but they...

Mortgage Stress Test? No Sweat!

Many people hoping to buy a house, whether it's their first or their fifth, have been struggling to cope with the mortgage stress test. The test was introduced by OSFI at the onset of 2018 when concerns arose about mortgage owners' abilities to withstand ever...

Is Spring the Best Time to Get a Mortgage?

Albertans coming out of winter often look like people who have been recently held hostage in a deep freezer for months on end. But thankfully this starts to wear off at the weather warms up. Numb looks of resignation disappear and are replaced with expressions of...

Bank of Canada Leaves Overnight Rate Unchanged

Nobody was surprised to hear today that the Bank of Canada did not change it's overnight rate of 1.75%. In 2017 the Bank was steadily increasing the overnight rate and was openly discussing the intention to continue doing so. However, after several successful rate...

Biggest Regrets Millennial Homeowners Have

If you're a millennial and you're looking to buy your first home, you're not alone. According to an RBC Economic Research study released in February of this year, Canada has the world's largest group of homeowners. Millennials in Canada make up more than 40% of...

Refinance Beofre Rates Increase

The Bank of Canada announced on Wednesday that they will not be increasing the overnight rate this month. At 1.75% the overnight rate, which directly affects mortgage interest rates, has not changed since October last year. It is not expected that the overnight rate...