Sleep Easy Financial

08/04/2023

If you’re currently in a fixed rate mortgage (or a static payment variable rate mortgage) that is scheduled to renew in the next 3 years, I STRONGLY urge you to consider making extra payments to pay it down prior to its renewal to lessen the shock of the increase to your mortgage payments post renewal.

I’m available to chat on how to minimize your renewal shock and will get you actual numbers on different paydown and renewal scenarios.

12/28/2022

The real cost to you from higher interest rates

https://www.sleepeasyfinancial.ca/blogs/mississauga-mortgage-broker-agent-blog/1013116-the-real-cost-to-you-of-higher-interest-rates

Connect with us today at www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

Canadians have seen interest rates rise considerably this year and those not on a fixed interest rate mortgage have seen their regular mortgage payments rise along with them.  All the talk in the media, and rightfully so, is about the rise in mortgage payments, but what of…

04/26/2022

Everything to know about the Mortgage Stress Test

https://lnkd.in/enw9ebst

Connect with us today at https://lnkd.in/gNhKGAc to find your Sleep Easy Mortgage!

Canada’s mortgage stress test applies to anyone applying for or renewing a home loan through a federally regulated lender.  And apparently nearly half of Canadians (according to a poll conducted by TD Bank) don’t understand what the test is—or who it affects. …

04/12/2022

5 Reasons Why Homebuyers May Not Qualify for the Mortgage Amount they Expected

https://www.sleepeasyfinancial.ca/blogs/mississauga-mortgage-broker-agent-blog/869195-5-reasons-why-homebuyers-may-not-qualify-for-the-mortgage-amount-they-expected #.YlV_6cjMK38

Connect with us today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

Homebuyers will often enter the mortgage journey with expectations on the amount they expect to receive, only to be disappointed when they don’t qualify for that amount. This is especially unsettling when they’re already paying a monthly rental amount that exceeds how much the le…

01/19/2022

The Bank of Canada released a new study where, for the first time, it classified homebuyers into three distinct groups: first-time buyers, repeat buyers, and investors.

https://bit.ly/3AgAI7K

Connect with us today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

This week's Bank of Canada (BoC) research showed that first-time buyers are increasingly unable to get their foot in the housing market's door, facing high prices and intense competition from investors and repeat buyers. The share of home purchases by first-time buyers fel…

10/05/2021

Whether it is your first house or you’re moving to a new neighborhood, getting approved for a mortgage is exciting! However, even if you have been approved and are simply waiting to close, there are still some things to keep in mind to ensure your efforts are successful.

Connect today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!
https://bit.ly/3iAtqE2

Whether it is your first house or you’re moving to a new neighborhood, getting approved for a mortgage is exciting! However, even if you have been approved and are simply waiting to close, there are still some things to keep in mind to ensure your efforts are successful. Many homeowners b…

07/21/2021

Soaring home prices over the past year have forced a majority of today’s homebuyers to use the maximum mortgage amounts they’ve been approved for.

https://bit.ly/3roQZTv

Connect today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

Soaring home prices over the past year have forced a majority of today’s homebuyers to use the maximum mortgage amounts they’ve been approved for. More than 65% of recent buyers bought the maximum amount of house they could afford, according to the Canada Mortgage and Housing Co…

05/22/2021

Thank you to every FIRST responder who's been working tirelessly the last year, no words can describe how much we appreciate you 🙏

As a thank you we have an EXCLUSIVE mortgage offering that's never been seen before that will protect you and your family when it comes to getting you the best mortgage.

If you or anyone you know can benefit from this Exclusive offer we would like to be there for you FIRST just like you've been there for us. Don't hesitate to reach out.

05/21/2021

Mortgage Stress Test Changes Confirmed for June 1

Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.

In both cases, borrowers will need to prove they can afford payments based on the higher of the contract rate plus 2%, or a new floor rate of 5.25%, up from the current 4.79%.

The higher minimum stress test is expected to cut maximum buying power by between 4% and 4.5%. For a median-income household, that would reduce the maximum purchase price from $442,000 to $422,000, according to previous estimates from National Bank.

05/09/2021

First-Time Home Buyer Incentive "2.0" Now Available

https://bit.ly/3o0gU29

Connect today at https://www.sleepeasyfinancial.ca/connect and find your Sleep Easy Mortgage!

Long-awaited tweaks to the government’s First-Time Home Buyer Incentive came into effect on Monday, May 3rd. Nearly five months after the changes were first proposed, the Department of Finance and Canada Mortgage and Housing Corporation (CMHC) have enhanced the eligibility criter…

04/22/2021

Bank of Canada backs tighter mortgage stress test amid hot housing market

https://bit.ly/3sGJ9Uq

Connect today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

Central bank worried that soaring demand for homes coupled with limited supply could lead to speculation and cause economic strain The Bank of Canada is acknowledging that limited housing stock is spurring strong price growth across the country, but expects recent policy initiatives to help rebalan....

04/14/2021

Canadian Estate Prices Are The Most Overvalued In The G7, Shows Another Indicator

https://bit.ly/3dPwBVi

Connect today at https://www.sleepeasyfinancial.ca/connect to find your Sleep Easy Mortgage!

Canadian real estate prices are the most overvalued in the G7, measured against rents. IMF data shows Canada’s house price-to-rent ratio in Q2 2020 was the highest of any G7 country. The indicator is commonly used by analysts and economists to determine stretched valuatio…