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Posted Mortgage News

Finally!! The Bank of Canada cuts the rate. 

Today, the Bank of Canada cut the Prime rate by 0.25%.  Hooray!  This will directly affect Variable rate mortgages and indirectly affect Fixed rate mortgages. 

It has been 27 months since the Bank of Canada governor, Tiff Macklem, started hiking rates to combat inflation.  The last hike was in July 2023. Since then, it’s been a guessing game to see when Macklem would act.. Finally, he cut the rates which is much needed and welcome news to all.

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Posted Mortgage News

Why Holding Real Estate for at Least 7 Years Matters.. Donald Trump?

I wrote this article in 2015. At the time, Trump wasn’t even on the radar for the Presidential election bid.  Wow, how quickly things can change! This isn’t so much about Trump but it’s more about one of his long-time advisors, George Ross.  Ross has been successfully investing in real estate for over 50 years.     His advice is worth listening to…

Continue reading “Why Holding Real Estate for at Least 7 Years Matters.. Donald Trump?”
Posted Mortgage News

Bridge Loans… the what and why!

brown wooden bridge over green trees

Bridge loans are short-term loans that bridge the gap between two different closing dates. More commonly used when an existing homeowner sells their home, and buys another home, with two different closing dates. But bridge loans have become a very popular way to take possession of that new home while it’s empty for 2 or 3 weeks to allow for renos. Best of all, it’s really inexpensive!

THE OLD WAY

In the past, most homebuyers would have their selling and buying dates match. It’s always been a bit of a juggling act as you have to pack your moving truck and unpack it, all in less than a day. Somehow, everyone manages to get it done… but talk about one of the most stressful days in your life, moving ranks right up there! Throw in some kids, maybe a dog, and a house full of stuff and you have a real chore on your hands.

THE NEW WAY Continue reading “Bridge Loans… the what and why!”

Posted Finance

There’s Never a Good Time To Time the Market

Rates are up, inventory is low, and sales volume is flat. If you’re looking to buy a new home, what are you supposed to do? A lot of people will tell you to wait. After all, rates are dropping soon! Why not just be patient until you can lock into lower monthly mortgage payments? 

What these people don’t realize is that waiting can be a dangerous game. I’ve been in real estate for more than 3 decades, and while things change all the time, one thing has remained consistently true: it’s never a good idea to time the market.

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Posted Finance

Are You Ready For Lower Rates?

As expected, rates are starting to trend in a downward direction. This might make life easier for some homeowners. But for others, lower rates might lead to more questions than answers. What should I do next? How can I benefit? Should I get a variable rate and ride the wave? Or should I stick with fixed?

There are no easy answers – but here’s some info that might point you in the right direction.

Continue reading “Are You Ready For Lower Rates?”