Refinancing Archives

What is Bridge Financing?

The financial term “bridge financing” is defined as the act of providing capital to extend the gap between the time your existing home is sold and your new property is purchased. Usually, people refer to this type of financing as a loan that can be paid off relatively quickly. However, it really comes in many… Continue reading What is Bridge Financing?

Experts Forecast a Shift in Canadian Home Prices

An increasing number of economic forecasts expect Canadian house prices to drop in the near term. Some of the forecasts are suggesting declines of around 25 per cent or more. The most recent report came from Capital Economics, which explained the surge in interest rates may pose a risk to the housing market. Some bond… Continue reading Experts Forecast a Shift in Canadian Home Prices

Many Canadians Looking to Get Mortgages Before Rates Increase Further

The Bank of Canada raised its benchmark interest rate by 0.5 per cent in early March and made it clear that more increases are coming. Tiff Macklem, the central bank’s governor said “the economy is now in a place where moving to a more normal setting for interest rates is appropriate,”: As a result, mortgage… Continue reading Many Canadians Looking to Get Mortgages Before Rates Increase Further

New Bank of Canada Rates are Impacting Canadians.

Following the Bank of Canada’s recent rate-tightening announcement, many Canadians with 5-year fixed mortgage rates are feeling the knock on impact. Many 5-year uninsured mortgages are now ranging between 3.39% and 3.79%. The result is that borrowers who secure a rate of 3.25% or higher are stress tested at their contracted rate and an additional… Continue reading New Bank of Canada Rates are Impacting Canadians.