Mortgage Blog
Ontario's Mortgage Expert
Category: Mortgage (35 posts)
Bank of Canada Rate Update March 8, 2023
March 8, 2023 | Posted by: Aaron Phinney
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at ...
read more
Selling Your Home in the Winter: How You Can Make the Most of It
March 5, 2023 | Posted by: Aaron Phinney
Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...
read more
Title insurance and home insurance–protect what matters most
February 27, 2023 | Posted by: Aaron Phinney
When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...
read more
Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening
January 25, 2023 | Posted by: Aaron Phinney
The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...
read more
Should You Spend the Full Mortgage Amount You're Approved For?
December 28, 2022 | Posted by: Aaron Phinney
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...
read moreThe Pros and Cons of Fixed vs. Variable Mortgages
December 8, 2022 | Posted by: Aaron Phinney
When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ...
read more
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
December 7, 2022 | Posted by: Aaron Phinney
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ...
read more
Bank of Canada Rate Update October 26, 2022
October 26, 2022 | Posted by: Aaron Phinney
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ...
read more
Best Ways to Plan for Your Down Payment
October 19, 2022 | Posted by: Aaron Phinney
Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ...
read moreHow Mortgage Rates Affect Buying Power?
September 16, 2022 | Posted by: Aaron Phinney
How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ...
read moreBank Of Canada Rate Update September 7, 2022
September 7, 2022 | Posted by: Aaron Phinney
Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ...
read more
Should You Pay Off Your Mortgage Early?
August 24, 2022 | Posted by: Aaron Phinney
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ...
read moreBank Of Canada Rate Update July 13, 2022
July 13, 2022 | Posted by: Aaron Phinney
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ...
read moreBank Of Canada Rate Update June 1, 2022
June 1, 2022 | Posted by: Aaron Phinney
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ...
read moreHow a Mortgage Pre-Approval Can Protect You from Rising Rates
May 26, 2022 | Posted by: Aaron Phinney
With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ...
read more
How is a Private Mortgage Different Than a Traditional Bank Mortgage
May 4, 2022 | Posted by: Aaron Phinney
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 ...
read moreBank Of Canada Rate Update April 13, 2022
April 13, 2022 | Posted by: Aaron Phinney
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% ...
read moreBank Of Canada Rate Update March 2, 2022
March 2, 2022 | Posted by: Aaron Phinney
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 ...
read moreBank Of Canada Rate Update January 26, 2022
January 26, 2022 | Posted by: Aaron Phinney
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 ...
read more
Top 10 Questions to Ask Your Mortgage Broker in Ontario
January 19, 2022 | Posted by: Aaron Phinney
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 ...
read more
How Much of A Mortgage Can You Afford?
January 5, 2022 | Posted by: Aaron Phinney
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 ...
read more
Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario
December 15, 2021 | Posted by: Aaron Phinney
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 ...
read moreBank Of Canada Rate Update December 9, 2021
December 8, 2021 | Posted by: Aaron Phinney
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 ...
read more
What to do if You Are Denied a Mortgage
November 24, 2021 | Posted by: Aaron Phinney
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 ...
read more
How to Know if it's Time to Refinance
November 3, 2021 | Posted by: Aaron Phinney
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 ...
read moreBank Of Canada Rate Update Oct 27, 2021
October 27, 2021 | Posted by: Aaron Phinney
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 ...
read more
What Is Home Equity and How Can I Build It?
October 6, 2021 | Posted by: Aaron Phinney
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 ...
read more
Bank Of Canada Rate Update Sept 8, 2021
September 8, 2021 | Posted by: Aaron Phinney
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 ...
read more
Getting a Mortgage as a Student
August 18, 2021 | Posted by: Aaron Phinney
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 ...
read more
What Happens if You Lose Your Job Before Closing?
August 4, 2021 | Posted by: Aaron Phinney
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 ...
read more
How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in Ontario
July 21, 2021 | Posted by: Aaron Phinney
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 ...
read more
Bank Of Canada Rate Update July 14, 2021
July 14, 2021 | Posted by: Aaron Phinney
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 ...
read more
Risks of Putting Down a Firm Offer with a Pre-Approval Ontario
July 7, 2021 | Posted by: Aaron Phinney
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 ...
read more
Low Rates in Ontario Helping Buyers Pay Off Their Mortgages at Record Pace
June 28, 2021 | Posted by: Aaron Phinney
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% ...
read moreBank Of Canada Rate Update June 9, 2021
June 9, 2021 | Posted by: Aaron Phinney
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 ...
read more