CMHC Tightens Mortgage Rules

In the last decade, we have seen policymakers in the mortgage and banking world stack mortgage rule changes one above the other in an attempt to slow down the increase of home prices. As well, to curb the debt appetite of Canadians. In the last week, CMHC’s President & CEO, Evan Siddall, has done this…

COVID-19 Government Assistance Programs

* As indicated on the Government of Canada and Quebec websites as of 28/03/2020    Federal Government ______________________________________________________________ Support for individuals and families ______________________________________________________________ Increasing the Canada Child Benefit An extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family. This benefit will…

Fact and Fiction about Payment Holidays

With everything going on in the world today, it would be nice to believe that the banks and governments would allow Canadians to take a break from paying bills, however, this is simply not true. The government of Canada, in the midst of this Covid-19 outbreak, has made recommendations to Banks and Financial institutions. Part…

BUILD A PLAN TO MOVE INTO YOUR HOME

There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As a mortgage broker, here’s how I will help…

BANK OF CANADA RATE ANNOUNCEMENT

The Bank of Canada today maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent. Global economic activity remains broadly on track with the Bank’s April Monetary Policy Report (MPR) forecast. Recent data point to some upside to the…