Craig McCrystal - Isask Mortgage Brokers Inc.

12/11/2024

Bank of Canada cuts interest rates today by 50 basis points. Great time for mortgage renewal discussions. Send me a personal message if you want to discuss your renewal options.

12/11/2024

02/11/2024

Sometimes we are spending *a lot* more than we think in certain areas of our life.

This could be affecting your ability to save up for a downpayment, or get ahead on a mortgage top up.

Here are three areas that are the big spending buckets that need to be trimmed back:
1️⃣ Subscription Overload: Monthly subscriptions quietly accumulate, draining finances. Do you have plans for Netflix, Disney+, Crave, Peloton, Good food and more? It might be time to start sharing some passwords 😉

2️⃣ UberEats/Doordash: The convenience of these services is amazing and sometimes you are in a pinch for dinner. But when the driver starts to know your name, it’s time to dial back on the takeout.

3️⃣ Impulse Buys aka Amazon Prime: That one-click shop to arrive at your door within 24 hours makes it way too easy to impulse shop. Delete the app off your phone if needed to make it harder to buy.

What bucket are you re-assessing this year?

02/10/2024

How early should you start thinking about your next renewal?

It depends.

The life of your mortgage is likely around 25 years in Canada.

But on average, every 5 years you will have to renew (although most Canadians refinance before that renewal date!).

This means that the rate you have now, could go up or go down next time you need to redo your mortgage.

If there is a BIG gap in the rates from when you last locked in your mortgage, you want to start talking to your mortgage broker sooner than later. If the rates have gone down significantly, there may be an opportunity to lock in a lower rate sooner to save you money.
If the rates have gone up, you want to get a sense of what your new payments will look like sooner than later so that we can look at any adjustments that need to be made.

If you have a renewal coming up in 2024, let’s connect sooner than later to get you prepared!

01/25/2024

I am always asked how do I start the process of home ownership. Here are a few key areas to consider.

11/30/2021

And just like that we were at the end of Financial Literacy Month! We hope everyone has enjoyed and learned from our posts this month. Remember there's no such thing as a silly question and we’re here to help you so don't ever hesitate to reach out to us if you have questions.

We want to end this month with one more reminder about how fast credit card debt can add up. Make sure you’re paying off as much of your debt as possible to reduce the interest cost you’ll incur over time!

11/29/2021

Having a credit card and using it responsibly is key. By using your card and building up good credit you are putting the future you in a better position when you need to make larger purchases that require financing.

Not all credit cards are the same and not all banks/lenders have the same rates. Just like a mortgage you can get a variety of different credit cards! It’s good to do a bit of research to make sure you find the best match for your needs!

11/28/2021

Having home insurance is another important thing that can shield you from future issues. Something not to make a quick decision on and do your research and ask questions to make sure you find a plan that works best for your unique situation.

11/26/2021

We have gotten a few messages about financial goals lately and how often they should be revisited or updated. The truth is it really depends on your situation. If you're someone who's disciplined and rigid with their planning you're probably ok to set your goals and just adhere to them over the year. But if you're new to more detailed financial planning and goal setting, it's good to sit down every month and to assess your progress. It never hurts to spend 15-20 minutes to check in with how you're doing to make sure you're setting yourself up for future success!

11/25/2021

A recurring topic this month has definitely been credit, because with credit comes your credit score. And your credit score can make a big difference in the options you get presented once it comes time to make a large purchase or investment like your first home!

11/24/2021

You most likely follow us because you are aware we handle mortgages. But if you ever have questions about your current mortgage whether you got it through us or not, don't hesitate to reach out if you have questions or want an outside look at your situation. We are here to help you and no question is too silly to ask!

11/23/2021

Your credit card interest can really add up over time, and take way more time than it should to pay down if you only make smaller payments. Plan and use your credit card properly and you won't have to worry about this, but it's a great visual example of how things can really add up!