How is Mortgage Interest Calculated?

Posted on Feb 28, 2024 in Mortgages


Will interest rates come down in 2024? This has been the million-dollar question for the Bank of Canada (BoC). For investors, it is almost certain that the central bank will start pivoting on monetary policy and pulling the trigger on rate cuts. Indeed, now that inflation is inching closer to the institution’s 2 percent objective and the Canadian e...

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How are Canadian Mortgage Rates Determined?

Posted on Jan 26, 2024 in Market Conditions



Canadian mortgage rates have been in a state of flux for the last year. The pandemic prompted a trio of interest rate drops, bringing the benchmark rate down to 0.25 per cent. This, in turn, resulted in a housing boom that saw many homebuyers stretch their financing to the limit in order to be able to buy a home. Now that the boom has passed and in...

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What does ‘AS IS’ property purchase mean in Real Estate?

Posted on Jan 18, 2024 in First-Time Buyers


Purchasing a home typically begins with making an offer, also referred to as the agreement of purchase. This document outlines the necessary conditions that must be met to finalize the deal. Common conditions typically include securing mortgage financing and sometimes undergoing a home inspection.

The concept of purchasing a property “as is” indicat...

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Is Airbnb Really Causing the Housing Crisis?

Posted on Dec 19, 2023 in Market Conditions


Did Airbnb perpetuate the housing crisis?



In the early days of the coronavirus pandemic, Canada’s rental market cratered, particularly in major urban centres. Many of the large cities, like Toronto and Vancouver, saw condominium units flood the housing market, creating a crash in apartment rents, something that had not been seen in years.

It was a re...

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Guide to Mortgage Renewal: How Do I Renew My Mortgage?

Posted on Nov 22, 2023 in Mortgages

Mortgage renewal

During the pandemic-era housing boom, many homebuyers purchased residential properties at rock-bottom mortgage rates. In response to the national economy’s pressures, the Bank of Canada (BoC) slashed interest rates to near zero, allowing prospective homeowners to obtain greater purchasing power and acquire a detached house, townhome, or condominium...

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What Is a Second Mortgage?

Posted on Nov 09, 2023 in Mortgages

What is a second mortgage

A second mortgage is a financial tool that is seeing a resurgence among Canadian homeowners. With property values soaring, homeowners are sitting on significant untapped equity in their residences. Property owners are realizing the possibility of consolidating high-interest debts, financing home improvements, or even funding an investment property...

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