Clearing Up the Confusion: Bank of Canada Rate vs. Prime Lending Rate Lately, there’s been a lot of misinformation floating around online, especially on social media, regarding interest rates in Canada. You’ve probably seen posts mentioning that the Bank of Canada rate is 3.75%, which might sound low and encouraging if you’re considering a mortgage… Continue reading Clearing Up the Confusion with Patricia McKean
Bank of Canada delivers fourth consecutive rate cut. From Kate Douglas of The Mortgage Group
Katherine (Kate) Douglas Visit My Website | Email Me | (403) 331-8553 Bank of Canada delivers fourth consecutive rate cut I wanted to give you a quick update — today, the Bank of Canada lowered its policy rate a half percentage point, bringing it down to 3.75%, a reduction of 1.25% from its peak. This is the fourth consecutive rate… Continue reading Bank of Canada delivers fourth consecutive rate cut. From Kate Douglas of The Mortgage Group
New secondary suite info from Trish McKean
I wanted to take a moment to highlight an exciting opportunity for your clients that could significantly enhance their real estate investments and living situations: secondary suites. As you may know, secondary suites are additional living spaces within a property that can serve various purposes, such as rental units or accommodations for extended family. Here… Continue reading New secondary suite info from Trish McKean
What are Alternative Mortgages? Solutions for those with unique financial situations with Kate Douglas
Katherine (Kate) Douglas, Mortgage Associate Visit My Website | Email Me | (403) 331-8553 Applying for a mortgage can feel overwhelming, especially if your financial situation doesn’t follow the typical mould. Whether you’re self-employed, have a less-than-perfect credit history, rely on non-traditional income, or are a new immigrant without an established credit record, there are creative mortgage solutions available to… Continue reading What are Alternative Mortgages? Solutions for those with unique financial situations with Kate Douglas
New Mortgage Lending Rules Got Everyone Like Whaaaaat? From Trish McKean with Mortgage Architects
New Mortgage Lending Rules Got Everyone Like Whaaaaat? Let’s Recap and Simplify! This week, the mortgage world got hit with some major updates, leaving everyone with a collective, “Whaaaat?!” Don’t worry, I’m here to break it down and simplify the changes, so you can stay ahead of the game without needing a law degree to… Continue reading New Mortgage Lending Rules Got Everyone Like Whaaaaat? From Trish McKean with Mortgage Architects
Trish’s tips from Trish McKean
When applying for a mortgage to buy a new home, there are some common pitfalls you should avoid to ensure your process goes smoothly! Don’t make large purchases or open new lines of credit. This can affect your credit score and debt-to-income ratio. Avoid changing jobs or careers. Lenders prefer stability in your employment history.… Continue reading Trish’s tips from Trish McKean
Understanding Collateral Charge mortgages from Trish McKean
I hope you’re doing well! I wanted to take a moment to share some important information about collateral charge mortgages, which could be helpful when discussing financing options with your clients. This type of mortgage can be a bit different from what many are familiar with, so understanding how it works, its pros and cons, and… Continue reading Understanding Collateral Charge mortgages from Trish McKean
New Mortgage info from Kate Douglas
Katherine (Kate) Douglas Visit My Website | Email Me | Call Me Federal government raises CMHC mortgage cap to $1.5M and expands 30-year amortizations for first-time buyers The federal government today announced some sweeping changes to Canada’s mortgage system in an effort to improve housing affordability and access. One of the key changes is the increase in the CMHC-insured mortgage… Continue reading New Mortgage info from Kate Douglas
5 C’s of credit thanks to Trish McKean
Here’s a breakdown of the 5 C’s and how we can frame questions to help our clients: 1. Character Lenders need to get a sense of who they are lending to, so it’s crucial that the application is filled out thoroughly and accurately. By understanding your client’s background, we can build a complete picture… Continue reading 5 C’s of credit thanks to Trish McKean
Message from Kate Douglas
Katherine (Kate) Douglas Visit My Website | Email Me | (403) 331-8553 Bank of Canada delivers third consecutive rate cut I wanted to keep you informed about the latest update from the Bank of Canada. Today, the Bank of Canada lowered the policy rate by 25 basis points, bringing it to 4.25%. This marks the third rate cut this year,… Continue reading Message from Kate Douglas