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Inner Hero

Did Your Parents Really Have It Easier When They Bought Their First House?

Despite real estate prices declining slightly from the highs of 2022, prices are still at relatively high historic levels. This, coupled with historically high rates and the associated payments, has continued to make affordability a big issue, especially for first-time home buyers. High real estate prices mean large down payments and large mortgage payments. For […]

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2023 Fall Federal Economic Statement

The 2023 Fall Federal Economic Statement was recently released in the past few weeks. With Canadians facing increasing financial pain through generationally high inflation, which has resulted in the Bank of Canada raising interest rates to 20-year highs; the federal Liberal government has been subjected to mounting political pressure for them to offer some relief. […]

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Bank of Canada Announces Pause to Interest Rate Hikes

On Wednesday, October 25th, the Bank of Canada made their latest scheduled rate announcement, that they were holding the overnight rate at 5%. This translates to a hold in the Prime lending rate with lenders, which is currently at 7.20% For anyone with a variable rate mortgage, line of credit or credit card date this […]

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Mortgage Rate Update June 2023

Mortgage Rate Update June 2023

Mortgage Rate Update for June 2023 – The Bank of Canada ended its four-month rate increase pause on Wednesday, raising the overnight lending rate by 25 basis points (bp), or .25% to a 20-year high of 4.75%. In fact, you would have to go back to 2000 to experience rates that high! This brought an […]

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Can the New First Home Savings Plan Help Me?

Keys to your new home

As of April 1st, First Time Home Buyers in Canada will have a new tool to help them save for the down payment for a home purchase. The First Home Savings plan or FHSA (First Home Savings Account) as it will be known, is a registered savings plan that will be administered by qualified, participating […]

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Is Now the Right Time to Choose a Variable or Fixed-Rate Mortgage? | The Real Cost of Renewing Your Mortgage

If your mortgage is coming up for renewal and you are experiencing a bit of “rate shock,” you are not alone! If you currently have a fixed-rate mortgage, your interest rate will most likely be going up, and likely substantially, depending on your term. If you currently have a variable-rate mortgage, your interest rate has […]

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Happy New Year!

Well, that was quite a year! Unfortunately, not for the better when it comes to interest rates and housing prices. Like all change, it’s not always welcome or for the better however we need to identify both threats to mitigate and opportunities to take advantage of. As your Hamilton Mortgage Broker, I am constantly looking […]

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