The federal government has announced a new mortgage program geared to assist homeowners in adding space to their existing homes to create additional self-contained living spaces, such as basement apartments, in-law suites or converted garages. Currently, any refinance, no matter the purpose, is maxed out at 80% loan to value ratio (LTV). That means you […]
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 […]
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 […]
Most potential home buyers wonder when the best time to purchase a home is. Well, now that the harsh winters are in the rear view mirror and the spring and summer months are approaching, there is no better time to become a homeowner than right now. Real estate experts state that the spring and summertime […]
Chestnuts roasting by the open fire, presents underneath the Christmas tree, and peppermint hot cocoa are just a few holiday customs that make this time of year so wonderful. Being a homeowner during the holidays means you have the privilege of experiencing these traditions in your own home. So, if you are debating whether or […]
Staying up to date with the current residential market trends is an excellent way to know when the best time to buy is. Comparing past housing prices with current ones can help homebuyers predict where the market prices are going to head in the future. To help you get started, your local Hamilton and Grimsby […]
According to the most recent housing market statistics that were released by the Canadian Mortgage and Housing Corporation, the Hamilton market outshone the Grimsby market by a long shot. There were only 73 new construction starts between January and November of 2017, which is up from the 30 that were recorded during the same […]