Should you break your variable-rate mortgage? We spoke to mortgage professional Deepak Bansal from Dominion Lending Centre about this. He strongly suggests that everyone get a “mortgage checkup” to evaluate the best options that compliment your financial wellbeing.  In the Globe & Mail article below dated Jan 27, 2023, Robert McLister (Interest rate analyst, mortgage strategist and editor of MortgageLogic.news) share his thoughts and ideas on... [read more]

Obtaining a mortgage can be intimidating and confusing. Similar to the buyer and seller guides, I’ve outlined the mortgage process for you in 4 easy steps! 
 
Step 1: Mortgage Application 
 Before an application gets filled out, it’s important to first asses yourself financially. Figure out how much money you have and how much you need to borrow. It’s always critical to sort out how much you can afford so that when you apply for a mortgage you will be able to... [read more]

As inflation continues to send prices higher, the Bank of Canada (BoC) has been raising interest rates in an effort to get things back under control. Since the Bank carried out a successive series of rate hikes from March 2022 to January 2023, the prime rates of most lenders have nearly tripled, from 2.45% to 6.70%. This dramatic leap has prompted public concern about mortgage borrowers reaching their “trigger rate.”  If you have a fixed-rate mortgage, nothing will change... [read more]