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With Prime Rate Increases, What Are Your Options for Your Variable Rate Mortgage?

Jul 16, 2022 | Current Real Estate Trends and Updates, Mortgage Advice

? With Rising Mortgage Rates, What Are Your Options For Your Variable Rate Mortgage With the Bank of Canada raising prime rate again, and further increas(es) expected, variable rate mortgage holders are asking about options! - Stay put, ride it out until rates...

Mortgage Tip- Shop Now For Your Mortgage Renewal

Jul 16, 2022 | Mortgage Advice

What do you do if you have a mortgage renewal coming up? With mortgage rates on the rise, I advise not waiting for your lender to send you a renewal notice. Shop now and shop early! You can actually set your new rate 120 days prior to your renewal date and offers...

Will rising mortgage interest rates affect your mortgage qualification?

Jul 16, 2022 | Mortgage Advice, Mortgage Rates

Will rising mortgage interest rates affect your mortgage qualificaiton? It is very possible. As rates go up, so too does the stress test rate that I have to use. The stress test is the greater of 5.25% or the contract rate + 2%. For example, if you are wanting a fixed...

EXPECT A 75 POINT INCREASE TO PRIME RATE JULY 13, 2022- VARIABLE RATE MORTGAGE HOLDERS

Jun 30, 2022 | Current Real Estate Trends and Updates, Mortgage Rates

VARIABLE RATE MORTGAGE HOLDERS If you are currently in a variable rate mortgage, I wanted to give you this update prior to the next Bank of Canada meeting July 13th! At this point, we can fully expect a 75 basis point hike, the highest we have seen in decades, taking...