There have been changes to Canada’s mortgage rules that could open up great opportunities for you. Whether you’re a first-time buyer, considering refinancing, or approaching your mortgage renewal, these changes may positively impact your mortgage options. A summary of recent mortgage industry changes:As of November 21, 2024:• No stress test qualifying for mortgage switches (both […]
Discover the largest untapped market in real estate: Canadians 55+
Canadians 55+ have needs that are not being met by standard real estate arrangements, but they are looking to buy and sell just as much – if not more – than their younger counterparts. HomeEquity Bank has a purpose-built solution that will provide additional options for your 55+ clients who are looking to purchase a […]
When I say ‘mortgage insurance’ – what do you think of?
When I ask “Do you have mortgage insurance?” I often get either one of these two responses:1) I put in more than a 20% downpayment so I didn’t have to pay itor2) I have enough term/whole life insurance to cover pay off my mortgage Both can be valid responses depending on the context because both […]
95% of borrowers opted for a fixed-rate mortgage in June 2023
Personally, I will always opt for a fixed mortgage rate over a variable rate. It’s a decision based on your risk tolerance and overall budget. In a research report by National Bank Financial, a record 95% of borrowers opted for a fixed-rate mortgage in June. This is largely due to the uncertainty around the Bank […]