Mortgage Blog

Professional Mortgage Advice in the Kitchener-Waterloo Region

Category: Mortgage (25 posts)

The Tax Free First Home Savings Account (FHSA) explained

The Tax Free First Home Savings Account (FHSA) explained

May 5, 2022 | Posted by: Jack Russell

The Tax Free First Home Savings Account (FHSA) explained If you or someone you know is saving for a down payment on their first home, the Federal government announced a new program aimed at first-tim ...

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How is a Private Mortgage Different Than a Traditional Bank Mortgage

How is a Private Mortgage Different Than a Traditional Bank Mortgage

May 4, 2022 | Posted by: Jack Russell

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ...

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Bank Of Canada Rate Update April 13, 2022

Bank Of Canada Rate Update April 13, 2022

April 13, 2022 | Posted by: Jack Russell

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ...

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Higher Interest Rates are Here. What Does That Mean for You?

Higher Interest Rates are Here. What Does That Mean for You?

March 9, 2022 | Posted by: Jack Russell

The Bank of Canada has been signaling for a while now that they will respond to inflation by raising interest rates. Sure enough, on March 2nd they announced a hike in the overnight rate by 0.25%. H ...

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Bank Of Canada Rate Update March 2, 2022

Bank Of Canada Rate Update March 2, 2022

March 2, 2022 | Posted by: Jack Russell

Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ...

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Bank Of Canada Rate Update January 26, 2022

Bank Of Canada Rate Update January 26, 2022

January 26, 2022 | Posted by: Jack Russell

Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ...

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Top 10 Questions to Ask Your Mortgage Broker in Waterloo, Ontario

Top 10 Questions to Ask Your Mortgage Broker in Waterloo, Ontario

January 19, 2022 | Posted by: Jack Russell

Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces ...

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How Much of A Mortgage Can You Afford?

How Much of A Mortgage Can You Afford?

January 5, 2022 | Posted by: Jack Russell

How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer's due diligence in calculating how much mortgage ...

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Sensible strategies to help you thrive in 2022

Sensible strategies to help you thrive in 2022

December 23, 2021 | Posted by: Jack Russell

Canadians keep talking about the housing market! Are we in a housing bubble, will rates rise in 2022 and by how much, is this the right time to buy or refinance, is a lender’s renewal offer th ...

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Prequalification and Pre-Approval—What is the Difference? Home Buying in Waterloo, Ontario

Prequalification and Pre-Approval—What is the Difference? Home Buying in Waterloo, Ontario

December 15, 2021 | Posted by: Jack Russell

What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ...

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Bank Of Canada Rate Update December 9, 2021

Bank Of Canada Rate Update December 9, 2021

December 8, 2021 | Posted by: Jack Russell

Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent ...

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Preparing For Higher Rates

Preparing For Higher Rates

November 26, 2021 | Posted by: Jack Russell

Given inflationary pressures, the Bank of Canada indicated in their last rate announcement that rate hikes could take place earlier than previously indicated, in mid-2022, which means variable rates t ...

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What to do if You Are Denied a Mortgage

What to do if You Are Denied a Mortgage

November 24, 2021 | Posted by: Jack Russell

What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ...

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How to Know if it's Time to Refinance

How to Know if it's Time to Refinance

November 3, 2021 | Posted by: Jack Russell

How to Know if it's Time to Refinance According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits ...

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Bank Of Canada Rate Update Oct 27, 2021

Bank Of Canada Rate Update Oct 27, 2021

October 27, 2021 | Posted by: Jack Russell

Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with ...

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What Is Home Equity and How Can I Build It?

What Is Home Equity and How Can I Build It?

October 6, 2021 | Posted by: Jack Russell

Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen ...

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What's Involved in Giving Your Child a Boost to Home Ownership?

What's Involved in Giving Your Child a Boost to Home Ownership?

October 6, 2021 | Posted by: Jack Russell

What's Involved in Giving Your Child a Boost to Home Ownership? With the financial demands of school loans, living expenses, and finding a career path, many young people struggle to purchase their fi ...

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Bank Of Canada Rate Update Sept 8, 2021

Bank Of Canada Rate Update Sept 8, 2021

September 8, 2021 | Posted by: Jack Russell

Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower boun ...

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Getting a Mortgage as a Student

Getting a Mortgage as a Student

August 18, 2021 | Posted by: Jack Russell

Purchasing a home is most likely one of the most sizable purchases most of us will ever make, and finally, buying a home is a dream come true for most. For students, it may seem like this dream is fo ...

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What Happens if You Lose Your Job Before Closing?

What Happens if You Lose Your Job Before Closing?

August 4, 2021 | Posted by: Jack Russell

A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not ...

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How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in  Waterloo, Ontario

How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in Waterloo, Ontario

July 21, 2021 | Posted by: Jack Russell

When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include. Some common conditions deal with ...

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Bank Of Canada Rate Update July 14, 2021

Bank Of Canada Rate Update July 14, 2021

July 14, 2021 | Posted by: Jack Russell

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ per ...

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Risks of Putting Down a Firm Offer with a Pre-Approval Waterloo, Ontario

Risks of Putting Down a Firm Offer with a Pre-Approval Waterloo, Ontario

July 7, 2021 | Posted by: Jack Russell

Risks of Putting Down a Firm Offer with a Pre-Approval Today, the real estate market is competitive and homebuyers need all the help they can get to secure their home at the right price. Once you fin ...

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Low Rates in Waterloo, Ontario Helping Buyers Pay Off Their Mortgages at Record Pace

Low Rates in Waterloo, Ontario Helping Buyers Pay Off Their Mortgages at Record Pace

June 28, 2021 | Posted by: Jack Russell

Home prices may be astronomical in certain parts of the country, but historically low mortgage rates are allowing borrowers to pay off their mortgages faster than ever. At today's average rates, 61% ...

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Bank Of Canada Rate Update June 9, 2021

Bank Of Canada Rate Update June 9, 2021

June 9, 2021 | Posted by: Jack Russell

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing The Bank of Canada today held its target for the overnight rat ...

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