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A rare opportunity from Chief Economist Dr. Sherry Cooper of Dominion Lending Centres, sharing her outlook on inflation, interest rates, world events, and the housing market. Watch the full video š
Category: Education and Learning,First Time Buyer,Home Purchase,Renew Refinance,
3-Year Fixed vs. 5-Year Fixed vs. 5-Year Variable Article Summary: I would advise going with a 3-year fixed rate over the 5-year rate. I would also heavily explore the variable again while rates are as...
Economic Update – No Rate Change Expected Summary: Interest rates are expected to stay the same next week as inflation dipped more than expected.On October 25, 2023, the Bank of Canada (BoC) is *expected* to...
Category: First Time Buyer,
oday I’d like to go over smart ways to save for your down payment using the RRSP Home Buyers Plan (HBP) and the new Tax Free First Home Savings Account (FHSA). The HBP and the FHSA were...
Did you know that there are three tiers for interest rates in Canada? Even more surprising, the best interest rates are saved for people who have insured mortgages, with less than 20% down. With government guarantees and little...
We get asked quite a bit about deposits and about the “money timeline.” In other words… our borrowers are interested in knowing when deposit moneys needs to change hands, who receives the deposit, and how...
We get asked by Realtors and clients quite a bit about bridge financing. However, in most cases, what we’re being asked for is “interim” financing, and not bridge financing. Bridge Financing When a buyer has...
From Upworthy, but I really liked it š Shawn Achor studied happiness at Harvard. When he tells people this, they say: “Shawn, why do you waste your time studying happiness at Harvard? Seriously, what does...
**I wrote this part before the SVB bank (plus others) collapse of from March 9-10. I’m not sure how this situation will play out yet. It’s entirely possible that we’re looking at no rate hikes in the...
Category: Education and Learning,
No Rate Changes: The Bank of Canada kept their overnight (Bank of Canada Prime) rate at 4.5%. This means that the Bank Prime rate is 6.70%. *For some TD Bank variable rate mortgage holders, the TD Mortgage Prime is 6.85%....
Home prices in Vancouver have increased for the 6th month in a row. Wait, what?! Prices are increasing again? Even as rates are increasing? In 2021 we had some of the biggest increases to house prices,...