Bank of Canada maintains it’s current overnight rate @ 1%

The Bank of Canada has decided to maintain its current benchmark lending rate steady at one per cent,  taking time to digest recent economic data after two small hikes earlier this year. Canada’s central bank said Wednesday it has decided to keep its target for the overnight rate right where it is, while rate hikes… Read More…

Niagara Health Foundation – mortgage fundraiser update

To date, over $3,000 has been generated for the Niagara Health Foundation to ensure Niagaran’s have access to the best healthcare! In addition, mortgage holders have saved thousands and thousands of dollars in lower rates and mitigation of risk. Thank you Niagara for the privilege of serving! With our extensive range of lenders, ranging from Big… Read More…

Mortgages and Cars, what is the difference?

Mortgages and financial stuff are complicated and boring, right? I get that for sure. Believe me, I sometimes have to slap myself to see if I am still alive due to the nature of my work. Everyone knows cars though, right? We all know the ONLY THING that matters is the SALE PRICE, right? When… Read More…

Mortgage (IRD) penalties, uncovered.

According to the statistics from Statistics Canada and CMHC – Approximately, 22,692 Niagaran’s per year break their 5 yr fixed rate mortgage with a two column format with a fixed rate mortgage, triggering the “Interest Rate Differential penalty (IRD). Statistics for Niagara (06/16): 447,888 people/consumers @ 27.9% mortgage holder rate = 124,961 residential mortgage holders @ 74.18% two column format mortgage… Read More…

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