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Mortgage Deferrals Now Recorded on Credit Reports

Mortgage Deferrals Now Recorded on Credit Reports

If COVID-19 has negatively impacted your finances and you're currently deferring your mortgage payments, you should know that this will be visible on your credit report. Here is an image from a recent credit report. In this scenario, it shows that the mortgage was...

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Bank of Canada Rate Announcement July 15th, 2020

Bank of Canada Rate Announcement July 15th, 2020

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing. The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is...

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Looking for a new mortgage? Start here.

Looking for a new mortgage? Start here.

It's safe to say that things have (mostly) calmed down in the mortgage world since the beginning of COVID-19. The rush of mortgage deferral applications appears to be behind us. So if you're looking for a new mortgage, right now is an excellent time to get things...

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Improving Your Credit Score

Improving Your Credit Score

Along with employment stability, and downpayment/equity, your credit score and how you manage your credit is a huge factor in qualifying for a mortgage. If you want the best interest rates available on the market, the higher your credit score the better. However, if...

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Spousal Buyout Mortgage?

Spousal Buyout Mortgage?

If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest...

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CMHC Guidelines Changing July 1st 2020

CMHC Guidelines Changing July 1st 2020

CMHC just shared the following press release. If you have any questions, please don't hesitate to contact me anytime! CMHC RELEASE JUNE 4th 2020 The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing. Job losses, business closures and a...

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Bank of Canada Rate Announcement July 15th, 2020

Bank of Canada Rate Announcement June 3rd, 2020

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. Incoming data confirm the severe impact of the COVID-19 pandemic on the...

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Advice for Living Through These Uncertain Times

Advice for Living Through These Uncertain Times

It only takes a quick trip to the grocery store to realize that life is VERY different than it was just a couple of months ago. COVID-19 has already left a permanent mark in modern human history. So as you continue life mid-pandemic, here's some good advice: don’t...

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