1 Jul

Understanding Mortgage Types

General

Posted by: Matthew J. Charlton

With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 classifications: INSURED (High-ratio – Less than 20% downpayment) If you put less than 20% downpayment, you will need mortgage loan insurance. This insurance protects […]

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11 Jun

The Benefits of using a Real Estate Agent

Home Tips

Posted by: Matthew J. Charlton

The right real estate agent will help you through every step of buying or selling your home. Like any relationship, you want to ask questions and get to know your agent before agreeing to have them work with you. Let’s take a look at some of the things you should consider when looking for an […]

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10 Jun

Another Red-Hot Employment Report in Canada – June 10 2022

Latest News

Posted by: Matthew J. Charlton

JUNE 10 2022 Canadian Labour Market Is Much Too Tight–Adds To Inflation Pressure Today’s Labour Market Survey for May 2022 showed that hiring continued at a rapid pace last month in an increasingly tight labour market, driving the jobless rate to another record low and fueling a sharp acceleration in wage gains. The economy added […]

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8 Jun

Banks & Credit Unions Vs Monoline Lenders

Buying Property

Posted by: Matthew J. Charlton

Institutional Lenders comprise Schedule 1, 2 and 3 banks, credit unions, loan and trust companies, finance companies or other corporations constructed to lend money on real estate. The Lender may also be referred to as the mortgagee. Schedule 1 (banks that are Canadian owned) Schedule 2 (branches or subsidiaries of foreign banks) Schedule 3 (foreign […]

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5 Jun

Staying Out of the Penalty Box

Mortgage Tips

Posted by: Matthew J. Charlton

When it comes to mortgages, it is easy to focus on the rates and your current situation, but the reality is that life happens – when it does, rates won’t be the only thing that matters. First and foremost, the most important thing to remember is that a mortgage is a contract. That means there […]

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4 Jun

What to expect at your closing meeting with your Lawyer

Buying Property

Posted by: Matthew J. Charlton

Purchasing a new property? Refinancing with a new lender? There are a few things you’ll need to know. Closing day is your final step before receiving your requested funds and, if applicable, getting the keys to your dream home. If you’re Refinancing your mortgage, the closing process is more streamlined and may include paying-out funds. […]

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3 Jun

Pre-qualification vs Pre-Approval vs Rate-hold

Buying Property

Posted by: Matthew J. Charlton

The homebuying process can feel like jumping through many hoops, but familiarizing yourself with frequently used terms can make purchasing a home much easier. Even if it’s not your first time as a homebuyer, there are many common questions that people have regarding mortgage rates and the steps necessary to secure a property. For instance, […]

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1 Jun

The Bank of Canada Hikes Rates Again By 50 bps – June 1 2022

Latest News

Posted by: Matthew J. Charlton

JUNE 1 2022 Another Jumbo Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back half-point increases are without precedent, but so were the dramatic pandemic rate […]

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18 May

Canadian Inflation Beats Expectations – May 18 2022

Latest News

Posted by: Matthew J. Charlton

MAY 18 2022 Canadian Inflation Shows No Signs Of Abating Inflation at 6.8% is unmitigated bad news. The Bank of Canada looks flat-footed again, having forecast that Inflation would be at least a full percentage point lower by now. What’s worse, inflation looks likely to rise again this month given the surge in gasoline prices […]

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