by Harpreet Sandhu | Mar 17, 2023 | Blog, Homeownership, Mortgage
It’s no surprise that many Canadians are feeling the pinch of higher iHow are Canadians Feeling About Homeownership in Today’s Market? The latest information from Mortgage Professionals Canada’s 2022 Year-End Consumer Survey, released in March 2023, provides a wealth...
by Harpreet Sandhu | Mar 3, 2023 | Blog, Homeownership, Mortgage
Are you worried about being turned down for a mortgage or not being able to renew with your existing lender? If so, you’re not alone. Mortgage qualification is more difficult right now due to higher interest rates and lower property values. Fortunately, mortgage...
by Harpreet Sandhu | Feb 17, 2023 | Announcements, Blog, Economy
In its very first summary of deliberations released this month, the Bank of Canada (BoC) pointed to a tight labour market, strong GDP growth and the risk of inflation getting stuck above 2% as the rationale for raising its key rate by a quarter of a percentage point...
by Harpreet Sandhu | Feb 3, 2023 | Finance, Homeownership
The federal government is providing a new tax credit to help make it easier for Canadians to care for adult relatives in their own homes. The multi-generational home renovation tax credit took effect January 1st for expenses related to building a secondary suite for a...
by Harpreet Sandhu | Jan 20, 2023 | Blog, Mortgage
Canada’s banking regulator – The Office of the Superintendent of Financial Institutions (OSFI) – announced three new regulatory proposals in January that could further limit mortgage Three NewThree New Regulatory Proposals Could Restrict Mortgage Borrowing Power...
by Harpreet Sandhu | Jan 6, 2023 | Blog, Finance, Homeownership
Most regions of the country (60%) are expected to shift into balanced market territory in 2023 – a trend that’s already starting to materialize as a result of current economic conditions – after a seller’s market dominated for much of the pandemic, says RE/MAX...
by Harpreet Sandhu | Dec 15, 2022 | Blog, Homeownership, Mortgage
There are many benefits to homeownership in any market. It’s important not to let the media tarnish your homeownership journey. And with average rent in Canada rising nearly 12% year-over-year in October 2022 to almost $2,000 – according to the National Rent Report –...
by Harpreet Sandhu | Dec 1, 2022 | Blog, Homeownership
More than half of Canadians surveyed are concerned about their personal financial situation but they haven’t changed their subconscious spending habits, according to a new report – The Quiet Spend – by FP Canada. Most people are spending money subconsciously by...
by Harpreet Sandhu | Nov 18, 2022 | Blog, Homeownership, Mortgage
In a rising rate environment like we’re currently experiencing, chances are you’ve heard the word “trigger” a lot lately, especially if you’re in a variable-rate mortgage.What’s a Trigger Rate? A mortgage is made up of two components: 1) Interest; and 2) Principal....
by Harpreet Sandhu | Nov 4, 2022 | Blog, Homeownership, Mortgage
While first-time homebuyers are often required by their lender to pay property taxes as part of their mortgage payments, many people continue to pay them like this throughout their time as mortgage holders. Once you’re no longer required to pay taxes with your...
