Fiad Mortgages

09/06/2024

Buying a home is a significant financial commitment, and while the mortgage is often the largest expense, it's far from the only one.

To ensure you're fully prepared for homeownership, it's essential to understand the various costs beyond your mortgage that you'll need to budget for.

This article breaks down these additional expenses to help you plan effectively and avoid any financial surprises.

Read the full article here: https://mortgagebrokersottawa.com/news-and-events/news/

09/04/2024

Breaking!

The Bank of Canada announced they will lower the overnight rate by 0.25% to a new overnight rate of 4.25%.

This is the 3rd consecutive rate drop the bank has announced since April 2024. They stated as economic conditions continue to settle and return to normal levels, a strict monetary policy is no longer mandatory.

The Bank of Canada’s target overnight policy rate affects the interest you pay from lenders like banks.

The higher the overnight rate, the more interest you will pay. The September 2024 drop from the Bank of Canada means that variable and adjustable mortgage holders will see a decrease in their interest costs and possibly a decrease in their mortgage payments.

Fixed rate mortgages are not as directly impacted by the BOC rate announcement, however the bond markets which influence fixed rates have largely already built in the expected 0.25% rate drop.

To learn more about the announcement, visit our latest article here: https://mortgagebrokersottawa.com/news-and-events/news/

12/23/2022

Looking ahead at the Real Estate Market in 2023

Prince George- As we close on the door on 2022 and look ahead to 2023, real estate is going to be on the mind ...

06/16/2020

Now that both Genworth Canada and Canada Guaranty have confirmed they are not following the lead of CMHC by updating their underwriting policies, this is welcome news for many Canadians.

https://mortgagebrokersottawa.com/news-and-events/news/welcome-relief-for-1st-time-home-buyers/

06/12/2020

Email me any questions..

Contrary to the recent changes CMHC announced on Friday June 5th, 2020 regarding the tightening of their underwriting criteria, both Genworth and Canada Guaranty have confirmed they will not be making the same changes to their underwriting processes.

https://mortgagebrokersottawa.com/news-and-events/news/cmhc-rule-changes-update/