Inflation is a natural part of a healthy economy, but if it rises too quickly, it can become problematic. When inflation increases rapidly, everyone tries to raise their prices to keep up, which can cause the value of the currency to plummet. This can lead to a recession and, in some extreme cases, currencies have…
Managing your finances does not need to be complicated! It just needs to be simple, consistent and effective. 1- If you’re finding that everything is expensive and you’re having a hard time prioritizing your spending every month, create a budget and a plan. 2- With current interest rates, paying down your debt needs to be a…
Did you know that the average Canadian has a mortgage debt of over $350,000? On top of that, many have other debts such as auto loans and lines of credit, which can add up to over $30,000 and $35,000 respectively. If you’re struggling to keep up with multiple payments and high-interest rates, debt consolidation might…
Introducing the First Home Savings Account (FHSA), a registered savings plan created by the federal government in 2022. The purpose of an FHSA is to assist you in saving for your first home, completely tax-free. Who’s eligible? Are you eligible for an FHSA? Any Canadian who is 18 years or older and has never purchased…
The variable vs. fixed mortgage rate decision is one of the biggest a borrower will make when selecting their mortgage. Many of my clients are choosing a 3 – 5 year fixed rate right now, as we suspect the rates will trend downwards after the 3-year period. It’s a decision that will affect a homeowner for…
Whether you are purchasing a home or looking to refinance, determining the property’s value is an important step in the mortgage application process. This amount will determine the amount of mortgage you’ll be offered. How home value is measured? A home’s value is based on its features. These include square footage, location, age, quality and…
A good credit score will affect your ability to borrow and also the interest rates that will be available to you. Generally speaking, a good credit score will result in a lower interest rate. How to build credit history that benefits you: Start early The length of your credit history is a key factor in…
One of the best reasons to work with a mortgage professional is that I work with a wide variety of lenders. Unlike your local bank branch, which can only offer you a mortgage (and mortgage rate) from their own suite of products, I have access to many different lenders. When we review finance options, you…
