by Glenn Maclaren | Dec 2, 2022 | Blog, Economy
More than half of Canadians surveyed are concerned about their personal financial situation but they haven’t changed their subconscious spending habits, according to a new report – The Quiet Spend – by FP Canada. Most people are spending money subconsciously by...
by Glenn Maclaren | Nov 18, 2022 | Blog, Homeownership
In a rising rate environment like we’re currently experiencing, chances are you’ve heard the word “trigger” a lot lately, especially if you’re in a variable-rate mortgage. A mortgage is made up of two components: 1) Interest; and 2) Principal. Each payment you make...
by Glenn Maclaren | Nov 4, 2022 | Announcements, Blog, Homeownership, Mortgage
While first-time homebuyers are often required by their lender to pay property taxes as part of their mortgage payments, many people continue to pay them like this throughout their time as mortgage holders. Once you’re no longer required to pay taxes with your...
by Glenn Maclaren | Oct 21, 2022 | Blog, Homeownership, Mortgage
Rent-to-own programs enable borrowers to build equity in a specific property as tenants with an option to buy the property within an established timeframe – typically between one and five years. As with any program, it’s important to understand how it works before...
by Glenn Maclaren | Oct 7, 2022 | Blog, Economy, Homeownership
Whether you’re in the market for a mortgage on your new home or you’re looking to renew or refinance an existing mortgage, it’s important to work with a mortgage agent who has access to multiple lender types – including, banks, credit unions and monolines, as well as...
by Glenn Maclaren | Sep 16, 2022 | Blog, Homeownership, Mortgage
The Bank of Canada (BoC) has raised its benchmark interest rate five consecutive times this year – most recently increasing 0.75% on September 7th. And while these increases are coming after years of historically low rates, some borrowers may be feeling the increases...
by Glenn Maclaren | Sep 2, 2022 | Blog, Economy
Everyone seems to be talking about inflation more than ever these days. And while Inflation in Canada has come down a little recently, it remains far too high. After rising rapidly to reach 8.1% in June, inflation as measured by the consumer price index (CPI) was 7.6%...
by Glenn Maclaren | Aug 19, 2022 | Blog, Homeownership
Toronto recently joined the roster of Canadian cities allowing for garden suites – secondary freestanding backyard homes that tie into a main residence’s services and utilities – which has many people wondering how this could help make housing more affordable. Garden...
by Glenn Maclaren | Aug 5, 2022 | Blog, Economy, Finance
As inflation soars to a 40-year high, and with interest rates expected to continue rising, many Canadians are feeling financially stretched. For those with a mortgage up for renewal, the prospect of dealing with higher mortgage payments is very real. That said, there...
by Glenn Maclaren | Jul 15, 2022 | Announcements, Blog, Economy, Mortgage
In an effort to stabilize the economy and curtail rising inflation and hot housing markets, the Bank of Canada (BoC) has been steadily increasing interest rates – most recently on July 13th when the overnight rate rose a full percent, which was the fourth consecutive...
