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Blog by Linda M Linfoot

Bank of Canada Rate Announcement

April 18th, 2018
Overnight rate stands at 1.25%

It seems variable mortgage rates will be standing pat, for now, as the Bank of Canada announced today it will be keeping the target for the overnight rate as-is, at 1.25%.

The reason for the non-move, according to the Bank, is that inflation is still within the safe zone, sitting at 2%. Additionally, while the outlook for the global economy and, more specificall ...

Be Stress-Test Ready

April 12th, 2018
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”.

The following is a guide and best practices tool kit for those about to embark on securing their new or next mortgage:

Make a financial p ...

Why Do People want to Buy a Home

April 3rd, 2018
Why do people want to buy a home?
Most of us figure we know the answer. But Canada Mortgage and Housing Corporation decided it would try to find out for sure.
The housing agency did an online survey late last year. It culled out a modest 2507 responses which it broke into three categories: first time buyers; current owners; and previous owners (those who used to own, but do not right now). Al ...