As individuals approach their retirement years, financial security becomes a primary concern. For many seniors in Canada, their home represents a significant portion of their wealth. Reverse mortgages is a viable option for seniors looking to leverage the equity in their homes to supplement their income during retirement. However, understanding the intricacies of reverse mortgages […]
Achieving the dream of homeownership is a significant milestone for many, but the journey can be challenging for those with less-than-perfect credit. Fortunately, obtaining a mortgage with imperfect credit is not impossible. In this article, we’ll explore strategies and practical steps to help you navigate the path to homeownership, even if your credit history is […]
In January, Canada’s Inflation Rate dropped to 2.9%, Enhancing the Likelihood of Interest Rate Reductions. In January, the year-over-year increase in the Consumer Price Index (CPI) was recorded at 2.9%, a notable decrease from the 3.4% rate observed in December. A significant factor in this slowdown was the 4% year-over-year drop in gasoline prices, a […]
The landscape of retirement planning has evolved over the years, with the average retiree now facing a more extended time horizon. To navigate this new reality, it’s essential to explore various tools that can aid in financial security during a 30-35-year retirement. One such tool gaining attention is the reverse mortgage, specifically in places like […]
If you’re a homeowner in Ontario or anywhere else, chances are you’ve taken out a mortgage to secure your dream home. Mortgages come with interest rates that can significantly impact the overall cost of homeownership. That’s where refinancing your mortgage becomes a powerful tool to save both time and money. In this comprehensive guide, we’ll […]
Refinancing is a financial strategy that can yield significant benefits, but understanding when to embark on this journey is crucial. In this comprehensive guide, we’ll explore key indicators and considerations and delve into the intricacies of refinancing mortgages in Ontario. Interest Rates Interest rates play a pivotal role in the decision to refinance. Consider refinancing […]
Getting into real estate can make you a lot of money, especially when looking at investment properties. It doesn’t matter if you’re a pro or just getting started; it’s super important to get what investment property mortgages are about so you can make smart choices. In this guide, we’ll explore the essentials of investment property […]
The Bank of Canada today held its target for the overnight rate at 5%, as was widely expected. The central bank continues to normalize its balance sheet through quantitative tightening, reducing its Government of Canada bonds holdings. The Monetary Policy Report (MPR) detailed a slowdown in global economic growth “as past increases in policy rates […]
The Canadian government has recently launched an incentive to assist with the down payment of your first home.
From April 1, 2023, as a first-home buyer in Canada you are eligible to register for a tax-free First Home Savings Account (FHSA).