A collective sigh of relief as the BoC cut rates for the first time in 27 months Today, the Bank of Canada boosted consumer and business confidence by cutting the overnight rate by 25 bps to 4.75% and pledged to continue reducing the size of its balance sheet. The news came on the heels of […]

  Managing rising living costs can be especially challenging when you’re on a fixed income with limited cash flow. Many Canadians resort to taking out loans, using multiple credit cards, and delaying significant purchases to maintain financial stability in retirement. However, juggling debts from different sources with varying interest rates and payment schedules can be […]

  If you’re seeking a mortgage but your application doesn’t fit the criteria of big traditional institutions, you might find yourself in the “Alternative-A” or “B” lending space. This space includes lenders who offer more flexible qualifying criteria, making it easier for certain borrowers to obtain a mortgage. Let’s explore the types of lenders in […]

Federal budget targets rich Canadians for new spending The budget focuses on helping Millennial and Gen Z voters experiencing rising housing costs and other inflationary pressures. The government has set fiscal anchors, such as keeping the deficit below 1% of GDP starting in 2027. The Canadian federal government released its 2023 budget over a year […]

  Summer’s the perfect time to spruce up your yard. Maximize your space with these high-ROI concepts, elevating equity and curb appeal simultaneously! 1. Sustainable Landscaping: Opt for native plants, drought-resistant foliage, and xeriscaping to conserve water and amplify your yard’s natural charm. Consider rain gardens and drip irrigation for eco-friendly options. 2. Outdoor Structures: […]

In today’s economic landscape, the rise of inflation, interest rates, and overall cost of living can leave many feeling overwhelmed. But fear not! We’ve compiled five expert tips to help you navigate and overcome financial stress in these uncertain times: 1. Prioritize What You Can Control: Instead of fixating on factors beyond your control, focus […]

    In today’s volatile economy, rising inflation and interest rates can leave many feeling overwhelmed. But fear not! We’ve curated five actionable strategies to help you navigate financial stress and emerge stronger: 1. Focus on the Controllable: Take charge of your finances by identifying areas you can control. Evaluate expenses like phone bills and […]

Wondering how to access the equity in your home? If you’re 55 or older and a Canadian homeowner, the CHIP Reverse Mortgage from HomeEquity Bank could be the answer. This financial solution allows you to leverage the value of your home without the need to sell or move. Let’s explore what the CHIP Reverse Mortgage […]

  Tips to Improve Your Credit Score for Better Mortgage Rates. Understanding your credit score is crucial, especially when it comes to homeownership. Your credit score plays a significant role in determining your mortgage eligibility and the interest rate you’ll receive. Generally, the higher your credit score, the better your chances of securing a favorable […]

Your mortgage’s amortization period determines how long it will take to pay off your loan. This choice significantly impacts your journey to becoming mortgage-free and the amount of interest you’ll pay over time. While the standard amortization period in the mortgage industry is typically 25 years, there’s flexibility to choose anywhere from 5 to 35 […]