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Reflecting on a year of growth and resilience
As the year draws to a close, we reflect on the dynamic landscape that defined the mortgage industry in 2023. Amidst ongoing economic uncertainties, the year brought its share of obstacles and opportunities. Market volatility, shifting regulations, and evolving borrower needs shaped the terrain we treaded together. Despite the challenges, innovation and collaboration emerged as…
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What are home equity loans? A guide for Canadians
Almost everyone takes out a loan to buy a home. As the loan is being paid back, you build up the equity in your home. Home equity is the difference between the market value of your home and what you owe that bank on the loan.
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Dealing with Unexpected Housing Costs as a Home Owner
Housing prices are up, and bank loan requirements are getting harder to meet. You’d think the Canadian dream of homeownership would be gasping for breath, but on the contrary, demand is alive and kicking. Even millennials, a demographic known to spend on experiences rather than investments, contribute a large chunk of the market, with 43.6% of them having already realized the dream and another 39% intending to buy in 2019.
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Who can borrow money from private lenders?
Real estate is often touted as one of the most effective ways of growing wealth, but the caveat is that it is very capital intensive. If you want to invest in real estate, you can get financing in several ways, aside from using your personal cash. You can get loans from traditional lending institutions (which usually mean banks), credit unions, insurance companies, investment firms, monolines […]
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Mitigating stricter loan approvals with private lenders
One of the most talked about subjects in the federal budget of 2019 is the government’s plan to alleviate some of the difficulty in purchasing a house by introducing the First Time Buyer Incentive program, which is slated to launch in September of the same year.
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Top 5 reasons why you should use a mortgage broker
You’ve made an offer on a property and it’s been accepted. Or, you’ve decided to remodel that dusty old basement and need to refinance. Or you’re mortgage has come up for renewal and want to explore better terms and interest rate. Now what? The only thing standing in your way of a more flexible life is securing the right kind of […]
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Rising interest rates: An action plan for Canadians
For years the Bank of Canada has been warning about the possibility of higher interest rates, but those pleas have largely fell on deaf ears. In July 2017 everything changed when our central bank put its money where its mouth is and raised interest rates for the first time in seven years.
Mind you it was only a 25 basis point increase, but […]
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