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Fall 2024 Residential Mortgage Market Insights

Key Trends for Canadian Homeowners The latest trends in Canada’s residential mortgage market reveal shifts in borrowing patterns, rising delinquency rates, and a cautious approach from traditional and alternative lenders alike. Whether you’re a homeowner, or a prospective buyer, understanding these trends can guide smarter financial decisions. Interest Rates and Borrowing Preferences in Canada 2024…

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OSFI Ends Stress Test Requirement for Uninsured Mortgage Renewals

Big News for Homeowners The Office of the Superintendent of Financial Institutions (OSFI) has announced a significant change in the mortgage landscape that will benefit many Canadian homeowners. Effective soon, borrowers with uninsured mortgages will no longer be required to complete a stress test when switching lenders at renewal time.   What Does This Mean…

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Changes To Mortgage Rules

Recent changes to mortgage rules, announced by Finance Minister Chrystia Freeland, are designed to help more Canadians—especially younger ones—achieve the dream of homeownership. These changes, set to take effect in December, aim to provide greater flexibility and opportunity for homebuyers in today’s evolving housing market.   Boosting the Price Cap for Insured Mortgages One of…

Illustration on the different types of Debt

Understanding How Different Types of Debt Impact Your Mortgage Approval

When it comes to getting approved for a mortgage, the type of debt you carry can significantly influence a lender’s decision. Lenders typically assess debt in one of two ways: either by considering the entire balance and calculating it into monthly payments or by factoring in the actual monthly payment impact on your cash flow.…

Marking a New Era for Housing Policies. 2024 Housing Budget from the Government of Canada

In the realm of Canadian mortgages, significant shifts are underway as federal initiatives aim to reshape the landscape for both prospective homebuyers and current homeowners. Let’s delve into the key highlights from the 2024 Federal Budget and explore how they might influence your mortgage strategies. The 2024 Federal Budget, unveiled on April 16, marks a…

CBC Investigation Reveals Bank’s Interests!

Using a “Stand-A-Lone” Mortgage Broker Matters  –  A Commitment to Client Interests & Exposing the Truth Behind Bank Practices. We can all agree, in the world of financial services, trust and transparency is paramount. With that said, Recent revelations from a unique CBC investigation shed light on the unsettling reality within some of Canada’s largest…

2023 Calgary Housing Market Illustration

A Condensed Review of Calgary’s Housing Market in 2023

Calgary’s real estate landscape in 2023 was characterized by robust sales, unique shifts in buyer preferences, and persistently low supply, making it a dynamic year for both buyers and sellers. In this blog post, we delve into the key trends that shaped the market and explore the factors that drove housing prices throughout the year.…

Your Calgary Guide to First Home Savings Accounts: Decoding CRA’s FHSA’s

First Time Homebuyers Alert! This is for you!!   If you’ve ever wondered about the ins and outs of First Home Savings Accounts (FHSAs) and how they can impact your journey to homeownership, you’re in the right place. We’re here to break down the recent insights shared by the Canada Revenue Agency (CRA) and make…