You’ve finally found your dream home, and you can’t wait to live in it. But, before you can make your dream into a reality, you’ll need the money to buy it. Time to work on your mortgage application. Applying for a mortgage isn’t the easiest process to go through; after all, this is one of […]

General Information relating to Deferred Mortgage Payment Programs Deferred mortgage payments are discretionary. Lenders maintain the legal right to timely repayment of their mortgages and mortgage payment deferral programs are offered at their sole discretion and each lender has different policies on how they handle these requests. Note: These programs are generally restricted to ‘Institutional” […]

The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage payments without adding to their financial burdens. The First-Time Home Buyer Incentive is a shared-equity mortgage with the Government of Canada. It offers: 5% or 10% for a first-time buyer’s purchase of a newly constructed home 5% for a first-time buyer’s purchase […]

The Bank of Canada is keeping its key interest rate unchanged and appears to be in no hurry to move the interest rate any time soon because the announcement today removed all mentions of a need for future increases. The bank says the economy was operating close to full tilt for most of the past […]

The following is an excerpt from the VERICO Economic Report written by Michael Campbell The drastic change in the Bank of Canada’s stance regarding future increases in interest rates since October is a clear indication that the Bank and the Finance Department are surprised by the impact of rising rates on the real estate market […]