• Home Purchase/Buying Basics
    Buying a home is a milestone in everyone's life. It symbolizes that you are independent and have achieved the stability of living a relatively comfortable life. Here are a few things
  • This means a couple of things. The most important thing to realize is that the lender will not just fork over a new, lower interest rate. You will be asked to bring in income documentation
Latest Blog Articles

Bank of Canada Increases Interest Rate

Earlier this morning, Bank of Canada has announced interest rate increase from 0.50% to 0.75%. Consequently, the major banks will follow the interest rate hike and increase their prime rate.

The current prime is at 2.70% for most lenders (TD is at 2.85%), it’s very likely for them to set the prime to 2.95%, an increase by 25 basis points.

CMHC To Increase Mortgage Insurance Premium

CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. 

CMHC’s standard mortgage loan insurance premiums will be changing as follows: