In a bold move aimed at supporting economic growth, the Bank of Canada (BoC) has cut its policy rate by 50 basis points, bringing it down to 3.75%. This is the largest rate cut since 2020 and signals a significant shift in the Bank’s approach as inflation returns closer to the target range. But what does this mean for homebuyers, sellers, and investors? Why the Rate Cut Matters For the first time in over two years, the BoC has taken substantial action to lower borrowing costs. This... [read more]

Never have we seen so many changes in such a short time. This has been a month jam-packed with mortgage rule easing. Last week, the feds declared that starting Dec. 15, they’re boosting the property value limit for default insurance to $1,499,999.99, increasing the maximum amortization for all insured first-time buyers to 30 years and lifting the maximum amortization for all insured buyers of new construction to 30 years. What does that mean for you.... Borrowers got yet another round... [read more]

The Canadian government has introduced a new initiative allowing some first-time home buyers to extend their mortgage amortization from 25 to 30 years. This change, effective from August 1, aims to make monthly mortgage payments more affordable. Here’s what you need to know about this new plan and how it could impact home buyers, sellers, and investors in the Greater Toronto Area (GTA). What’s the Change? As of August 1, first-time home buyers in Canada can now opt for a... [read more]

Whether you’re an experienced homeowner or buying for the first time, mortgages are a complex and often daunting topic. That complexity only increases when discussing a second mortgage. In this informative piece, you’ll find everything you need to gain a quick understanding of second mortgages.   The Ins and Outs of a Second Mortgage A second mortgage is a secondary loan/mortgage registered on the title of a property. Similar to a first mortgage, a second mortgage is a... [read more]