by Robert Stanfield | Jul 15, 2021 | Announcements, Blog
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 and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate....
by Robert Stanfield | Jul 9, 2021 | Blog, Homeownership, Mortgage
You may be ready to buy a home but you’re finding that your budget is stretched to its limit with all of the closing costs adding up on top of the down payment you’re required to make. Some lenders offer a cash back mortgage that could be the solution you’ve been...
by Robert Stanfield | Jul 2, 2021 | Economy, Homeownership, Mortgage
If you’ve missed mortgage payments or you’re anticipating difficulties moving forward, you should always deal with this as early as possible. Periods of financial difficulty are not uncommon and there are several options available to avoid an ultimate foreclosure. ...
by Robert Stanfield | Jun 25, 2021 | Blog, Homeownership
There are two new federal government programs available to help homeowners improve the energy efficiency of our homes. In combination, these two initiatives are designed to help eligible participants make deeper, more costly retrofits that have the biggest...
by Robert Stanfield | Jun 18, 2021 | Announcements, Finance, Homeownership, Mortgage
As a homeowner, refinancing your mortgage allows you to capitalize on lower interest rates, access your home’s equity, consolidate debt or even reduce your monthly payments. In simple terms, a mortgage refinance involves breaking your current loan agreement...
by Robert Stanfield | Jun 11, 2021 | Blog, Homeownership, Mortgage
Every time your mortgage renewal date is approaching – every five years, on average, depending on your specific term – it’s important to get your mortgage agent negotiating on your behalf. You should start the process 3-4 months in advance to give ample time to get...
by Robert Stanfield | Jun 4, 2021 | Blog, Homeownership, Mortgage
If you’re applying for a new credit card or even a job, taking out a loan or buying a new vehicle or home, a credit check will most likely be conducted to determine your creditworthiness. This helps determine if you’re dependable and able to pay back money you borrow....
by Robert Stanfield | May 28, 2021 | Blog, Homeownership, Mortgage
A recent Equifax survey of Canadian consumers shows 40% feel that mortgage fraud is a growing problem. Even more unsettling is that 9% admit to not having been entirely truthful on their loan applications, and a similar number believe it’s acceptable to falsely report...
by Robert Stanfield | May 21, 2021 | Announcements, Blog, Finance, Homeownership, Mortgage
In today’s unconventional housing market, where inventory is low, competition is fierce and bidding wars are common, obtaining a mortgage preapproval has never been more important. In the face of multiple offers and fast-paced decisions, having a preapproval in hand...
by Robert Stanfield | May 14, 2021 | Blog, Economy, Finance, Homeownership, Mortgage
Since the global pandemic reached our shores, the Bank of Canada cut its overnight target interest rate in a number of unscheduled announcements, finally settling on the record low 0.25%. Understandably, these reductions were implemented in an effort to help offset...
