Mortgage Blog

Category: Financing (16 posts)

Tips for Improving Your Credit Score Before Applying for a Mortgage

November 1, 2023 | Posted by: Karen Monteiro

Tips for Improving Your Credit Score Before Applying for a Mortgage For many people, buying a home is a significant milestone in their lives. However, getting approved for a mortgage is ...

Bank Of Canada Rate Update June 7, 2023

June 7, 2023 | Posted by: Karen Monteiro

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4.75%, with the Bank Rate at 5% and the ...

A Six-Step, Back to Basics Financial Plan for Most Every Canadian

November 21, 2022 | Posted by: Karen Monteiro

It's a tough time to know what the right financial move is at the moment. Interest rates are increasing, while stocks are in bearish territory. It's easy to forget that there are smart things that you ...

What are credit scores and how are they important?

September 1, 2021 | Posted by: Karen Monteiro

A credit score is a number that shows how likely you are to pay or default on credit. It ranges from 300 to 850; the higher the number, the more creditworthy lenders deem you. Your credit history dete ...

2021 Mortgage Stress Test - Latest Updates

April 21, 2021 | Posted by: Karen Monteiro

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ...

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21, 2021 | Posted by: Karen Monteiro

Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ...

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 12, 2021 | Posted by: Karen Monteiro

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ...

Multi-Family Lending: What You Need To Know About Hard Money Loans

March 8, 2021 | Posted by: Karen Monteiro

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...

How Good vs Bad Debt Impacts Your Household

January 27, 2021 | Posted by: Karen Monteiro

In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...

3 Tips on How to Better Your Credit Score

December 9, 2020 | Posted by: Karen Monteiro

Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

July 24, 2019 | Posted by: Karen Monteiro

It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...

3 Simple Ways to Repair Your Credit

July 10, 2019 | Posted by: Karen Monteiro

For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ...

3 Smart Ways to Use a Home Equity Line of Credit

March 13, 2019 | Posted by: Karen Monteiro

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

September 26, 2018 | Posted by: Karen Monteiro

When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...

Strategies to Dig Yourself Out of the Debt Hole

August 29, 2018 | Posted by: Karen Monteiro

Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ...

Why You Need an Emergency Fund And How to Get One

August 22, 2018 | Posted by: Karen Monteiro

Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...

Karen Monteiro, AMP