Insured and uninsured mortgage qualification stress test changing
May 28, 2021

On June 20th, 2021 the Office of the Superintendent of Financial Institutions (OSFI) announced that as of June 1st, 2021, uninsured mortgages will be required to qualify at the greater of the mortgage contract rate plus 2 percent or 5.25%. That is up from the current qualifying rate of 4.79%. Further, the Deputy Prime Minister […]

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It's Municipal Tax Time
May 27, 2021

It's that time of year again when you can expect to receive your municipal tax notice in the mail shortly. Once you have received your notice, it's important to do one of the following: If your taxes are not included as part of your mortgage installment payment, be sure to pay the bill before its […]

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Looking to Upsize Your Home?
May 16, 2021

According to RE/MAX, one of the biggest trends for Canadian homeowners in 2021 are move-up buyers looking to purchase a home that offers more space for them and their families. In fact, this is true for a whopping 29% of Canadians! Unsurprisingly, this demographic is made up mostly of younger Canadians (under 35) with growing […]

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The Benefit of Rate Holds
May 7, 2021

The term “rate hold” may be something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! A rate hold is offered by the majority of lenders to clients who are purchasing a new home and need a mortgage. The […]

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Time for a Mortgage Check-Up!
May 6, 2021

There has never been a better time for your annual mortgage health check-up! By organizing a quick mortgage review each year, it may yield you some fruitful financial savings. Your home loan review this year will examine the most common potential monthly savings opportunities, including high-interest credit card debt or fixed loan payments. Reviewing your […]

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Mortgage Broker vs. a Mortgage Specialist...What's the difference?
May 3, 2021

Do you know the difference between a mortgage broker and a mortgage specialist? No matter where you are at in your home buying journey, I wanted to provide some information that might help you consider utilizing my services to ensure you get the best mortgage product, for YOU! To most consumers “mortgage broker” and “mortgage specialist” […]

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Buying a House in the Spring
April 28, 2021

Looking to Buy This Spring? If you want to enter the real estate market this Spring, there are some things you should consider - especially if you are a first-time home buyer! Get Pre-Approved: One of the best things you can do prior to starting your home search, is to get pre-approved for a mortgage! […]

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OSFI Considers Setting a Minimum Qualifying Rate of 5.25% For Uninsured Mortgages
April 27, 2021

With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn't take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an increase in uninsured mortgages' qualifying rate to the higher of the mortgage contract rate […]

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How is your credit health?
April 20, 2021

For most people, credit score isn’t something you spend much time thinking about. Especially if you are someone who is making good money and paying all your bills on time, but it never hurts to be aware of your current score and ensure you are maintaining it - even when you're not in the market […]

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