Bank of Canada Statistics: Canadian homeowners are facing a crossroads. As of April 2024, the Bank of Canada’s key interest rate is 5%. This significant

In the context of home loans, you might have heard of the term “mortgage trigger rate,” which refers to the point at which your adjustable-rate

The Office of the Superintendent of Financial Institutions (OSFI) in Canada has recently announced significant changes in borrowing requirements for mortgage applicants, marking a major

As the federal government pushes to reduce bank fees, a report from North Economics states that Canadians are overpaying by billions of dollars annually (over

While recent data recognizes Canadian mortgage holders’ perseverance in the face of increased borrowing prices, it also presents a worrying picture. Equifax Canada’s fourth-quarter 2023

Are you a millennial wondering how much you should accumulate for your golden years? You’re not alone. Particularly for our generation, retirement planning is not

The Bank of Canada’s recent decision to keep its key interest rate steady at 5% has sparked widespread interest and speculation Amidst ongoing worries about

What if I told you that deep inside your wallet is a secret code allowing you to maximize the amount of money you save on

In Canada, where winters are notorious for their bone-chilling temperatures, having robust home insurance isn’t just a luxury – it’s a necessity As the mercury

As part of Canada’s economic plan, the Honourable Deputy Prime Minister and Minister of Finance, Chrystia Freeland, announced that the federal government is taking new

When selling a home, every individual wants the highest price. In contrast, homebuyers aim for the lowest. That’s where the sale-to-list ratio comes in. It’s

Life is unpredictable; unforeseen events can drastically impact our financial plans despite our best intentions. Whether a secured loan is attached to an asset or

Are you struggling with high-interest debt? Don’t worry; there are some simple ways out. Two popular debt payoff methods, the avalanche and snowball, can help

Credit line insurance, also known as line of credit insurance, protects individuals with credit products like a home-equity line of credit account (HELOC). This insurance

While over half of millennials and Gen Z know about life insurance, many still need a life insurance policy. Living life to the fullest might

What is the Canadian Pension Plan? The Canadian Pension Plan, or CPP, is like a savings plan for Canadians when they retire. Every working Canadian

Understanding the true potential of your Registered Retirement Savings Plan(RRSP) goes beyond conventional savings. With the capability to invest in stocks, bonds, mutual funds, GICs,

Your journey as a newcomer in Canada opens up new opportunities and experiences and introduces you to a different financial landscape. Your first year is

The Bank of Canada has increased interest rates ten times since March 2022, changing the financial landscape for mortgage renewals. These rate hikes, implemented over

The world of financial technology has swiftly evolved, and leading this charge are Financial apps. These tools have redefined budgeting and saving by introducing simple

Owning credit cards isn’t the same for everyone; it’s like finding the right fit for your financial situation. What works for one person might not

Despite the continuously rising inflation and interest rates, Canadian individuals are optimistic that there will be an economic improvement with the start of the new

Are you considering revising your mortgage rates to benefit from new mortgage trends without changing your current contract? A blended mortgage is your entry point.

Buying or investing in a multi-family property or multi-family home can offer a fantastic investment advantage in the real estate industry But before moving ahead,

Buying a home is a significant investment, but the steps leading up to it define the quality of your investment. One key stage in this

Anticipating long-term mortgage rates and interest trends requires a deep understanding of the estimation techniques based on complex economic factors Predicting short-term trends is notably

Among the panic of costs that come with buying a home, like realtor commissions, moving costs, and new furniture, there’s a lesser-known yet significant fee:

With rising interest rates, many Canadians are anxious about their mortgages. Borrowers have various worries, such as managing higher rates and the possibility of keeping

When securing a mortgage, understanding the differences between a mortgage charge and a collateral charge is crucial. These two methods influence your borrowing potential and

The number of self-employed people grew to over 2.6 million in 2022, contributing to more than 15% of the Canadian workforce. They love their freedom

Owning a home isn’t just about mortgage payments. Property taxes add another layer of financial responsibility. These taxes, enforced by your municipality or local governments,

The Canadian Real Estate Association(CREA) has adjusted its projections for 2023, anticipating a decrease in both sales and prices due to escalating interest rates, particularly

Deciding to renovate a home is a personal choice Homeowners might start a project to boost their property’s value, make it more convenient for the

Your credit score is more than just a number—it’s like a VIP pass to the best mortgage rates, the lowest interest on credit lines, and

Understanding credit scores means coming across terms like “debt-to-income ratio” (DTI) and “debt-to-credit ratio” They are vital metrics shaping your financial standing. But what’s the

When securing a mortgage for your dream home, the conventional path might lead you straight to your local bank. You walk in, sit with one

The mortgage stress test serves the crucial purpose of ensuring borrowers can comfortably afford their mortgage payments. Its primary goal is to safeguard Canadians from

When it comes to building wealth, real estate investment is a heavyweight player. It’s a place where people make big money and fulfill their dreams,

We’ve all had that unsettling encounter with a standard savings account. It is a secure haven for stashing your funds, allowing you to accrue cumulative

Finance Minister Chrystia Freeland has unveiled a series of measures aimed at enhancing the affordability of banking services. These actions align with the promises made

Welcome to the world of financial empowerment, where your mortgage becomes a dynamic tool for building wealth and securing your future. This blog will explain

In today’s ever-evolving financial landscape, staying one step ahead is essential. With mortgage rates rising, there’s no better time to take charge of your home

In September, Canadian home sales decreased for the third consecutive month, and the organization responsible for the data, the Canadian Real Estate Association (CREA), has

With many financial institutions, an array of mortgage products, and an ever-evolving regulatory environment, understanding mortgage loan terms is not only helpful but crucial. Whether

Buying a home is a monumental milestone in life, a dream often decades in the making. It’s where memories are created, families grow, and a

Choosing between a portable or assumable mortgage can significantly impact your financial situation. A portable mortgage permits you to transfer your mortgage to a new

In the world of parenting, we all aspire to give our children the best chances in life, especially when it comes to their education. However,

Are you sick and weary of seeing your hard-earned money dragged into the never-ending pit of home insurance premiums? Do the costs of protecting your

Divorce is a complex and emotionally charged chapter in life, and when it involves a jointly-owned home, the stakes become even higher. “Navigating Joint Mortgages

Are you a Canadian homeowner or prospective homebuyer looking to make the most of your financial investments? If so, you’re likely aware of the potential

Your home is more than just a place to hang your hat; it’s a valuable asset, and second mortgages offer you the opportunity to leverage

When it comes to homeownership, dreams often outsize bank accounts. The desire to own a piece of real estate, be it your first home or

Financial security is the core of our lives, and one of the fundamental ways we achieve it is by giving our money to banks and

In the constantly changing world of finance and investment, understanding the variation of money management isn’t just about numbers and data. It’s about the psychology

Before the 2008 financial crisis, lenders offered zero down payment mortgages to borrowers more readily. However, in the aftermath of the crisis and with the

In the world of homeownership, there are few financial setbacks more disheartening than the denial of your mortgage renewal It’s a scenario that can send

Imagine you’ve found your dream home and secured a mortgage, but there’s one hitch – you have little to no funds left for essential purchases

Sharing a mortgage with someone else can be daunting, but with our expert insights, you’ll gain the confidence to make informed decisions. The mortgage market

One of the most important financial choices most of us will ever make is buying a home. Comprehending the internal and external variables that might

Statistics reveal that up to 36% of Canadians have mortgages, indicating the significant role that mortgage institutions play in the lives of a broader population.

Setting sail on the homeownership journey is undeniably thrilling, but the path to finalizing your dream home’s purchase isn’t without its complexities. Within the realm

Are you tired of burdening yourself with mortgage payments and desire financial freedom earlier than expected? Many homeowners are motivated to pay their mortgages early

Diversifying your options to secure funding for your business opens up various possibilities. Among these options, reaching out to venture capitalists offers a route for

Embracing the option of a larger home is exciting, but the journey to securing a larger mortgage comes with crucial considerations. As you set your

In an age where technological advancements are transforming our world, the rise of artificial intelligence (AI) has brought about outstanding convenience and efficiency. However, along

Acquiring a new home while selling your current one demands precise timing. Consider this scenario: you’ve discovered your ideal home, yet the sale of your

The Tax-Free Savings Account (TFSA) is more than just a savings vessel; it’s a powerful tool that offers Canadians a unique opportunity to grow their

Knowing how to write a compelling offer is crucial whether you’re a first-time homebuyer or a seasoned real estate investor. Making the perfect offer can

The mortgage industry undergoes several noteworthy transformations in a robust labour market with low unemployment rates and steady job growth. As the economy thrives and

Are you ready to break free from the shackles of mortgage misconceptions and take charge of your financial future? No more falling prey to deceptive

As you set your sights on owning your dream home, there are many crucial steps you must consider – getting a mortgage. But here’s something

Imagine the dream of homeownership within your grasp, even with a less-than-perfect credit score. If bad credit stands as a barrier between you and your

In an era of dynamic markets and ever-evolving investment opportunities, understanding MBS(Mortgage Backed Securities) is like holding the key to a treasure of knowledge. With

Imagine a world where owning a home becomes an attainable reality, where the weight of daunting mortgages and steep down payments is lifted from your

The private mortgage lending trends show the industry is rapidly gaining momentum in Canada. With the increasing demand for alternative financing options, private mortgage lending

In the dynamic realm of real estate and mortgage lending, one crucial element has taken center stage: the mortgage stress test Its significance cannot be

The potential to deduct mortgage interest from your taxes can be a game-changer. Imagine reducing your tax burden and maximizing your savings while enjoying the

In an era where financial management plays a vital role in our lives, the question of whether to have multiple bank accounts has become increasingly

Imagine a scenario where unexpected events, such as illness, disability, or even loss of employment, strike unexpectedly, leaving you unable to meet your financial duties.

We live in a world where plastic reigns supreme, and credit cards have become integral to our financial lives. However, amidst the convenience and appeal

Over the past year, mortgage rates have experienced a steady increase due to the rapid rate hiking cycle implemented by the Bank of Canada. This

Embarking on a new chapter in life with a change of residence can be an exhilarating experience. However, amidst the chaos of moving boxes and

Errors and Omissions (E&O) insurance is a fascinating realm that safeguards professionals and businesses from unforeseen pitfalls and potential financial liabilities. Minimizing the effects of

The relationship between inflation and mortgage rates is sometimes complicated. Generally, in an inflationary environment, central banks raise interest rates to control inflation, which can

In a world crammed with enticing advertisements, irresistible deals, and constant pressure to keep up with society, it’s all too easy to fall prey to

In recent years, there has been a growing interest in Guaranteed Investment Certificates (GICs) as a safe investment option among Canadians. This surge in popularity

When it comes to financial difficulties, few things can be as stressful and overwhelming as losing your home. Unfortunately, many homeowners in Canada face this

This wildfire season has destroyed many homes and businesses, leaving homeowners in disarray. Wildfires are a growing threat to homeowners across Canada. Due to the

In recent years, it’s alarming to see a surge in requests for extended amortization periods exceeding 30 years While it may seem like an attractive

The most common misconception for many people regarding home ownership is that after the mortgage is paid off, life will be easier. Even if you

HELOC is a secure revolving loan in which the lender uses your home as a guarantee HELOC is a secure revolving loan you can obtain,

Owning a home is among the major purchases a person can make in their lifetime. At Pegasus Mortgage Lending Inc., we firmly believe that this

It’s easy to get confused about credit scores—even more so when figuring out what they mean for your finances. Your credit score is a 3-digit