Joshua Young Mortgage Specialist

06/28/2022

06/22/2022

Climate change is transforming our economy and has broad implications for housing affordability. Do you have an Energy-Efficient Home insured by CMHC? CMHC's renewed Eco-Plus Energy Efficiency Refund Program will refund 25% of insurance premiums for homeowners who qualify. For more information, visit cmhc.ca/ecoplus

The Crown corporation has launched a new refund program for Canadians

06/16/2022

Bridge loans are a short-term solution financing that allows you to access some of the equity in your existing property to put towards the down payment of your new home.

Bridge financing allows you to ‘bridge’ the financial gap between the firm sale of your current home and the commitment to your new home.

05/26/2022

Did you know, approximately 60 percent of people break their mortgage before their mortgage term matures? Here are some of the most common reasons that individuals break their mortgage and the financial implications.

Below are some of the most common reasons that individuals break their mortgage. Being aware of these might help you avoid them!

05/11/2022

In the past few years the Canadian housing market has seen unprecedented demand which has led to buyers taking huge risks in securing a property. Recent Government regulations are being adopted to prevent buyers from further risks and one of the major risks is purchasing a property with no 'Inspection Conditions'. Here's a few reasons why one should opt for a home inspection when buying a home, even if it is a brand-new build.

Ahome inspection isn’t a legal requirement when you buy a home in Canada. Yet, it’s certainly a wise decision for the largest purchase you will likely ever make. Here are five reasons why you should opt for a home inspection when buying a home, even if it is a brand-new build. Things unseen The ...

04/12/2022

Affordable Housing Is A Key Theme In Federal Budget 2022 Today’s budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to meet the demands of a rapidly growing population base. Thanks to ...

03/30/2022

Did you know? There are 10 different factors that affect the rate you qualify for and interest you pay on your mortgage!

Prepare for the mortgage process and also get a better understanding of the mortgage rates available to you.

03/22/2022

Thinking about retirement before it happens is just common sense. But what questions should you be asking yourself? Deciding early what your wants and priorities are, will determine the steps you need to take now. Will travel be more important to you than having a house big enough for the whole family to visit? etc. Of course, wants and desires will change over the years, but having a set plan to begin with is a good idea.

Thinking about retirement before it happens is just common sense. But what questions should you be asking yourself?

03/09/2022

When it comes to mortgages, it is easy to focus on the rates and your current situation, but the reality is that life happens and when it does, rates won’t be the only thing that matters. It is always important to think ahead when signing a mortgage agreement, but not everything can be planned for. In that event, it is important to understand the next steps if you do indeed need to break your mortgage.

The most important thing to remember is that a mortgage is a contract. That means there is a penalty involved if the contract is ever broken.

03/02/2022

As projected, more rate hikes expected by Bank of Canada after next meeting on April 13th.

Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be coming. This is the first rate hike since 2018. In a cautious...

02/24/2022

As the BoC will be increasing rates in the upcoming weeks, this is the time to review your mortgage(s). Consolidation of high interest debt, Unsure if a Variable or Fixed rate is right for you? Etc are reasons to start the conversation.

The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand i...