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As expected, the Bank of Canada has left its policy rate unchanged at 2.75% this morning on July 30, 2025. This marks the third consecutive rate hold. The unpredictability of the current tariff situation, as well as higher-than-expected inflation, has left the Bank of Canada moving forward cautiously. A rate hold means no changes for […]

What is my minimum down payment, and how does it affect my application? There are 3 types of down payment scenarios: If your down payment is between 5% and 19.99% of the purchase price, your mortgage is considered a high-ratio (or insured) mortgage. This means you're borrowing more than 80% of the home's value. Because […]

Let’s try a little experiment and do a little check-in... When was the last time you went an entire day without worrying about money or your financial future? Take a moment. Think about it… If you can’t remember, you’re not alone. For so many aspiring first-time home buyers, especially in today’s market, financial stress has […]

The Bank of Canada held the Target Overnight Rate steady at 2.75% again this morning, June 4, 2025. This is the benchmark rate used by banks to set their Prime Rate, and therefore, I expect no change to lenders' Prime Rate. This announcement directly impacts any borrowers with a variable or adjustable-rate mortgage and home […]

As of May 27, 2025, first-time home buyers could save up to $50,000 on a new home thanks for the brand new GST rebate announced by the federal government. A full GST rebate on new homes under $1 million, and a partial rebate on homes between $1 million and $1.5 million. First time home buyers...If […]

When applying for a mortgage in Canada, debt servicing ratios—also known as GDS (Gross Debt Service) and TDS (Total Debt Service)—play a key role in determining how much you can qualify for. If you're aiming to increase your approved mortgage amount, the key is to improve these ratios. Two Main Strategies to Reduce Your Debt […]

When it comes to getting a mortgage in Canada, debt servicing and debt ratios are a huge factor in determining how much mortgage you qualify for. Let's take the overwhelm out of debt ratios and help you qualify for more! Debt servicing for a mortgage in Canada refers to calculating how much of your, the […]

Many homeowners often find themselves with a mortgage but don't fully understand mortgage penalties. And I get it! Buying a home and getting a mortgage can be overwhelming, to say the least! But if you're considering purchasing a home, refinancing, selling, making a lump sum payment, or need a way out, I encourage you to […]

When you're buying a home with less than a 20% down payment, mortgage default insurance is required. And most people think it’s only there to protect the lender but there are some benefits to you, the borrower, as well! But here’s what a lot of homebuyers don’t realize: that same insurance often comes with built-in […]