Bradsmortgages.com

10/23/2024

50 BPS RATE DROP for variable and HELOC rates!

The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%.

09/04/2024

While some people thought there could be a half a point rate decrease the Bank of Canada went with another quarter-point cut making three in a row!

Variable rate mortgage payments and home equity line of credit payments all drop 0.25% Prime rate is now 6.45%! This means on $100,000 balance you’re saving another $20 per month.

As always, I’m here to help ensure you get the lowest rates and answer any questions you have, reach out anytime! Brad

Brad Nemes
Mortgage Agent level 1
CCapital Mortgages Inc.Brokerage license: # 10575

07/24/2024

Great news everyone!
Today, the prime rate dropped today, resulting in savings of a quarter point on interest for those with variable rates and home equity lines of credit on their upcoming bills.

It will be interesting to see how things unfold in the following weeks. While fixed rates should come down, the reduction may not be as significant as that of variable rates. As always, I’m here to help ensure you get the lowest rates and answer any questions you have, reach out anytime! Brad

Brad Nemes
Mortgage Agent level 1
Capital Mortgages Inc. Brokerage license: # 10575

06/06/2024

The Bank of Canada lowered the interest rate by 0.25%, decreasing the prime rate to 6.95%. So the big decision right now is Choosing between fixed or variable mortgages depends on the potential for future rate decreases.

Significant rate drops are needed for variable mortgages to surpass fixed rates. Rates will decrease further, but. not as quickly as we’d like them to. This makes fixed-rate terms advisable for first-time homebuyers, while those with a large downpayment large income, might be tempted to roll the dice in order to take advantage of the variable rate game.

For first-time homebuyers, I’m still recommending fixed-rate terms of 3- or 5-year (although you can get a 1-year fixed-rate of 7.14%). They will also come down sometime in the coming months, but fixed rates are always slower to move.

As always, I’m here to answer any questions, review your unique situation and match you with the right term and products, let’s chat! Brad

Brad Nemes, Mtg Agt Level 1
Capital Mortgages #10575
License # M080000579

04/18/2024

Some Good News for FIRST TIME HOMEBUYERS As of April 16, you can now utilize $60,000 from your RRSP for a down payment, increased from $35,000. This withdrawal is tax-free if repaid over 15 years. The bank of Mom & Dad can top up your RRSP account but not at the last minute so if they're going to help, make sure you plan ahead.

CMHC mortgages for new builds will now have a 30-year amortization period instead of 25, making monthly payments more manageable.

Take advantage of the new FHSA account, enabling you to save up to $8,000 per person for a down payment and receive a tax deduction the following year for income taxes.

Reach out with any questions! Brad Nemes Mortgage Agent

04/10/2024

I am thrilled to be participating again this year in the CN Cycle for CHEO event on May 5th!

I'll be cycling in the 70K event with a target of raising $1,500 to support CHEO in their mission to provide better treatment options for children fighting cancer. Your support is crucial in helping me reach this goal!

Thank you for considering this cause. If you wish to donate, please visit my CN Cycle for CHEO fundraising page (link below)

Together, we can make a meaningful difference for children battling cancer ❤️ Grateful for your support! Brad

https://cheofoundation.donordrive.com/index.cfm?fuseaction=donorDrive.team&teamID=8606

03/06/2024

Latest news! The Bank of Canada has held its overnight rate today. While most of us were hoping to see rates drop a little more quickly this year, it looks like the road to lower rates will be a winding one. If your mortgage is up for renewal or you're thinking of a move, chat with a seasoned broker who can find the perfect mortgage match for you. After all, every mortgage solution is as unique as you are, book a call today!

Next Announcement: April 10, 2024 when the Bank returns with a update on the interest rate & economic commentary.

02/16/2024

Are you on the list? February VIP Club - Giving Away $50 to the place of your choosing! Send me a message or visit my LinkTree (in bio) to enter into a monthly draw for a fun prize every month! 🎁

I'm all about treating my VIP squad (that's you - past, present, and future clients) to something exciting each month! No strings attached - I'm investing my ad bucks in YOU. Get ready for mortgage updates, friendly chats, and some sweet surprises coming your way. Good luck!

01/31/2024

Why settle for what your bank dishes out? We believe in giving you top-notch, unbiased mortgage advice, with access to a whole range of options from the best lenders out there. Chartered banks, credit unions, broker lenders, mortgage investment corporations, alternative lenders, and private lenders - you name it, we've got it! Let us work our magic, and you can save a ton of time and money, while we do the heavy lifting for you.

01/25/2024

The Bank of Canada has held its overnight rate at 5%, but the question is: will inflation hit a snag on its way down? The road to lower rates will be a winding one. So, what's the better choice: a short-term fixed rate or a variable rate?

With rates fluctuating daily, it's a tough call. A fixed mortgage keeps your payments consistent, which is a comfort to many homeowners. A variable mortgage, on the other hand, can net you lower interest rates almost instantly.

Confused? You're not alone! If your mortgage is up for renewal or you're thinking of a move, chat with a seasoned broker who can find the perfect mortgage match for you. After all, every mortgage solution is as unique as you are, book a call today!

Mark your calendars for the next rate decision on March 6, 2024.

01/02/2024

New year, new possibilities! Wishing everyone an awesome 2024✨