Trish Balaberde Mortgage Consultant

12/13/2024

NEW MORTGAGE RULES December 15/2024

All FIRST-TIME HOMEBUYERS and NEW BUILD BUYERS are now eligible for 30-year amortizations a move that will ease monthly payment pressures. In addition the limit for a high ratio mortgage (less than 20% down payment) will increase from $1 million to $1.5 million.

The down payment rules will remain the same. 5% down for the first $500,000 of the purchase price and 10% down for the portion between $500,000 and $1.5 million.

07/24/2024

BANK OF CANADA LOWERS RATE BY ANOTHER 1/4% Prime Rate now at 6.7%

The Bank of Canada delivered a widely expected interest rate cut today, marking the second consecutive time it has lowered its policy rate.

06/05/2024

Bank of Canada Lowers Prime Rate by .25% Prime Rate is now at 6.9%

The Bank of Canada cut its key interest rate for the first time in more than four years today, marking a major turning point in its fight against inflation.

04/11/2024

Amortization on Insured Mortgages increased to 30 years effective August 1.

The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes.

03/06/2024

Bank of Canada holds Key Rates

The Bank of Canada held its policy rate steady for a fifth consecutive meeting, acknowledging progress on inflation while reiterating that it’s still “too early” to consider rate cuts.

03/05/2024

First TIme Home Buyer Incentive Discontinued

An introduction to the First-Time Home Buyer Incentive and links to tools and resources to help you prepare to buy your first home.

06/07/2022

Surprisingly when it comes to your mortgage rate a lot has to do with the purpose of your transaction. Are you purchasing, refinancing or simply transferring your mortgage to another...

06/07/2022

Wondering how your MORTGAGE RATE is determined?

Surprisingly when it comes to your mortgage rate a lot has to do with the purpose of your transaction. Are you purchasing, refinancing or simply transferring your mortgage to another...

08/04/2021

HOME RENTAL SUITES AND THE CRA

New year, new bills. Many homeowners are tempted to offset mortgage payments and other debts with additional cashflow from renting out an apartment suite within their home. But, by doing that, are they forfeiting what is probably the biggest incentive to investing in a home: The Primary Residence Ex...