The 5 C’s of First Time Homebuying Credit

In order to buy your first house (and every house afterward) you'll need good credit. This can be broken down into 5 C's: Character, Capacity, Capital, Collateral, and Conditions. With a firm grasp of these 5 C's you'll be able to make your first home purchase using...

Low Trade Certainty Means Low Rates

The longer The Bank of Canada has gone without making a change to their overnight rate, the more speculation changes on what they will act in the future. After their last announcement in May it was commonly believed that we wouldn't see the bank increase rates again...

The Pretend Homeowner

What is a pretend homeowner? It's someone who hasn't bought their first home yet but lives financially as though they have in preparation for homeownership. Doing this gives the pretender a good idea what they're in for and the chance to find out if they have what it...

Credit Card Debt Consolidation

Credit cards. Maybe they make you cringe. Maybe they make your eyes light up. Either way, they can be an effective tool for Canadians looking to build their credit. With perks like travels rewards and cash back, credit cards are an attractive option. However, if you...

Beating the Stress Test

If you've been recently looking at buying a house there's no doubt the phrase "stress test" puts a bad taste in your mouth. On January 1st 2018 OSFI introduced their mortgage stress test. This test implements a few extra hoops for mortgage applicants to jump through,...

Which Is the Best Season to Get a Mortgage?

Canadians easing into spring often look like they've finally escaped from being held hostage inside a deep freezer for months on end. Once they begin to thaw you'll notice a look of guarded optimism grace their faces. And when they know for certain that winter is...

No New Overnight Rate From Bank Of Canada

In their statement released today the Bank of Canada announced that there is no change to their overnight rate which presently sits at 1.75%, unchanged for the last seven months. The Bank had originally started a planned gradual climb in interest rates but had to hit...

No More Rate Hikes until 2020… Maybe

According to a Reuters poll taken earlier this month, 40 economists predict that the Bank of Canada will not increase interest rates until the end of 2020 and that there's a 40% chance we will see them decrease interest rates. Their rationale? The Canadian economy...

If you're looking to buy your first home it's likely you're in the millennial age gap (1981-1996). According to a study released by the RBC Economic Research group in February, more than 40% of Canada's homeowners are under the age of 35, the highest national rate in...

Refinancing In The Current Climate

After the Bank of Canada started hiking interest rates in 2017 many home owners were worried what this might mean for them. But the Bank stopped raising rates in October 2018 when the overnight rate reached 1.75%. On Wednesday the Bank announced that they will not be...