Canada’s housing market continues to slow down with August marking the second consecutive month of declining home sales. Tight demand and supply conditions have also eased, slowing home prices’ pace of growth. Inflation increased to 4% in August, up from 3.3 % in July, posing a persistent challenge for the economy and the Bank of […]
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 […]
3 in 10 Canadian homeowners regret their mortgage choice
With the sharp rise in variable interest rates over the past year, many homeowners are regretting their current mortgage decision due to affordability and the increased cost of living. If this sounds like you – let’s talk. While fixed rates aren’t much lower than a variable at this time, we can look at your overall […]
Two types of credit bureaus and how to track them
In Canada, there are two credit bureaus: Equifax and TransUnion. Your credit score is a number ranging from 300 to 900, which is determined by credit bureaus. Your credit score reflects your creditworthiness and the probability of you repaying your debts. Scores over 660 demonstrate that you can manage credit effectively and that a lender […]