The Bank of Canada announced a 25 basis point rate cut to the overnight rate on June 5th, 2024. This decision has raised questions about its impact on interest rates. It's important to understand that the fixed rate mortgage market and the variable rate mortgage market are influenced differently. Fixed rates are driven by bond yields, while variable rates are directly linked to the overnight rate. Fixed Mortgage Rates The recent 25 basis point rate cut by the Bank of Canada has a limited direct effect on fixed mortgage rates because: - Fixed mortgage rates are primarily influenced by long-term bond yields, which…

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Original Article Posted on:  June 15, 2021

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Article Written By:  Steve Huebl

Original Article Posted on:  June 22, 2021

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Article Written By:  Clayton Jarvis

Original Article Posted on:  May 25, 2021

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Article Written By:  Stephen Punwasi

Original Article Posted on:  MAY 13, 2021

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Article Written By:  Steve Huebl

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Link to Original Article:  https://www.canadianmortgagetrends.com/2021/05/first-time-home-buyer-incentive-2-0-now-available/

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Original Article Posted on: March 30, 2021

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Original Article Posted on: MARCH 30, 2021

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Original Article Posted on:  March 4, 2021

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With so many ‘Baby Boomers’ reaching retirement age (and beyond), there’s no shortage of advertising for reverse mortgages. It’s a popular financial tool for some retirees, in particular, those who have become ‘house rich and cash poor’ due to rising health care costs and living expenses, alongside incomes that remain relatively fixed.

Hopefully you’ve read Part 1 of this reverse mortgage series, where we have cleared up some of the myths and misconceptions about this financial tool.

We have one final concern that wasn’t addressed in the previous blog, which was whether or not the surviving spouse or partner may be stuck repaying the loan after the homeowner passes away. Fortunately, surviving spouses can remain in the home without having to make payments, as long as they are also registered on the mortgage. And unless they choose to sell the home.