Millennial and Gen Z mortgage brokers are “embracing new tools and they’re changing the fundamental way people want to work.” Read more about how they are using new ways to make alt lending the norm.
When should you break your mortgage for a better rate?
“If you’ve found yourself enticed by a better mortgage rate or another lender offering something more competitive, there’s something you should ask yourself. Does it make sense to break my current mortgage and lock it in at a lower rate?”
Many clients are looking at the option of breaking their current mortgage to save long term.
Read Pattie Lovett-Reid’s full article for the details:
Here’s how to secure the lowest rate possible
The Financial Post has 6 steps to help you secure the lowest rate possible. Skip Step 3 and talk to us! Mortgage Brokers do all the shopping around for you to make sure you get the lowest rate available.
Read the whole article here:
Home-buying intent heats up during second wave
Many Canadians are feeling the need for more space, especially with the pandemic. With mortgage rates at an all-time low in Canada, now is an excellent time to consider your first mortgage or re-financing your existing mortgage.
Read more from the REMI Network:
https://www.reminetwork.com/articles/buy-homes-second-wave/
Canadians piling on mortgage debt as hot housing market continues
Mortgage debt increased 7.4% in November compared to a year earlier, pushing total up to nearly $1.66 trillion, StatsCan says.
Read more from the Financial Post
Bank of Canada keeps rate steady at 0.25%, maintains pledge of it staying low until 2023
The Bank of Canada opted to keep its benchmark interest rate steady at 0.25 per cent on Wednesday, noting that Canada’s economic recovery from COVID-19 is proceeding in line with expectations.
Read more from the CBC.
https://www.cbc.ca/news/business/bank-of-canada-benchmark-interest-rate-1.5834049
Refinancing Your Mortgage Can Save You Money If You Do It Right
Mortgages are big commitments, with most lasting more than 20 years! Luckily, the mortgage you start off with doesn’t have to be the same mortgage you finish with. Refinancing is a tool you can use to reshape your mortgage to better suit your needs.
Canadian home sales and prices just smashed through another record
“Home has been our workplace, our kids’ schools, the gym, the park and more. Personal space is more important than ever,” said Shaun Cathcart, senior economist at CREA. Read more:
Bank of Canada Target Rate Forecast to 2022
Nobody has a crystal ball, but we can listen to educated guesses! Here is a recent article from Mortgage Sandbox on the Bank of Canada target rate forecast to 2022:
https://www.mortgagesandbox.com/mortgage-interest-rate-forecast
When should you break your mortgage for a better rate?
In this recent article, Pattie Lovett-Reid answers this question: When should you break your mortgage for a better rate?