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New First Time Home Buyer Incentive Happy Couple Buying New Home Gets Key From Builder

New First-Time Home Buyer Incentive.. the quick facts.

New First Time Home Buyer Incentive Happy Couple Buying New Home Gets Key From Builder

The First-Time Home Buyer Incentive (FTHBI) program is a Shared Equity plan that came into effect Sept 2nd (just before an election, what coincidence).  The program was created to stimulate new home construction and to fill a lack of housing supply.

Here are the quick facts about the program and how you can actually qualify.  Spoiler alert, this program isn’t for everyone, and actually, it’s going to be more relevant for smaller cities and towns where home prices are below $500k.  Still, it’s worth reviewing to see if you do qualify… Continue reading “New First-Time Home Buyer Incentive.. the quick facts.”

Picture of a man celebrating with his arms lifted in the air representing the happy clients that saved money by breaking their mortgage

These 3 clients broke their mortgages, paid a penalty, and still saved between $9,000 and $26,000!

Picture of a man celebrating with his arms lifted in the air representing the happy clients that saved money by breaking their mortgage

While I originally posted this article in September of 2015, I think now is a good time to take another look.

Fixed mortgage rates are at an all-time low.  If you have a mortgage that is over 3.09%, then you should consider breaking it, paying the penalty and getting into today’s lower rates.

That’s the short answer… the full answer is a little more complex, but it’s really just simple math.   If the savings is greater than the cost to break, then the answer is obvious.  You should do it!   I’ll give you some real life examples of clients whose savings could be huge $$s today if they paid their mortgage and the penalty and went into a new lower rate mortgage. Check out these success stories…
Continue reading “These 3 clients broke their mortgages, paid a penalty, and still saved between $9,000 and $26,000!”

Mortgage Rates are still trending Lower… Yes, in August!

Its Christmas! Home Sweet Home. Home Improvement And Time. Enjoy

A couple years ago, the federal government brought in some tighter mortgage qualifying rules. The ‘stress test’ was just one of several changes, but it’s definitely the most well known.

The feds wanted to slow the housing market. They also wanted to ensure that borrowers could afford the much anticipated mortgage rate hikes. Rates have to go up some time, right?! When?!

Continue reading “Mortgage Rates are still trending Lower… Yes, in August!”

A Rate War on Canada Day?

Happy Canada Day Poster. 1st July. Illustration Greeting Card Wi

I’ve never seen more competition with mortgage rates in my 30-year career than I have in the first five months of 2019!

Rates are under 3%!

On May 10th, a new jobs report was released by the federal government showing 106,000 new jobs created in the month of April. This blew away all expectations. And, the reaction was immediate, including higher mortgages being imminent and a bull stock market on the horizon… and yet, this didn’t happen. Continue reading “A Rate War on Canada Day?”

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