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Bridge loans: What are they and how do you use them?
Anyone who has bought and sold a home in the past knows it can sometimes be tricky to get the closing dates on both deals to line up perfectly.This is often crucial for a buyer since they normally...
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Minimum Qualifying Rate for Variable Rate Mortgages
Information as provided by Canada Guaranty, CMHC, & Sagen July 19, 2022Given the rising interest rate environment, the mortgage insurers (Canada Guaranty, CMHC, Sagen) have collaborated to provide...
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Bank of Canada Raises Rate by 100 bps
The Bank of Canada raised its key lending rate by 100 basis points this morning, bringing it to 2.50%.The Bank said inflation is “higher and more persistent” than what it had forecast in April, and...
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Upcoming Changes to Home Equity Lines of Credit
Last week, Canada’s banking regulator unveiled new rules that will govern how borrowers may use Home Equity Lines of Credit (HELOC).The new guidelines unveiled by the Office of the Superintendent of...
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