Mortgage Blog

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Pre-Payment Penalty: Interest Rate Differential (IRD)

Pre-Payment Penalty: Interest Rate Differential (IRD)

July 2, 2024 | Posted by: Bailey Coats

When paying off a variable rate mortgage, most lenders will charge a pre-payment penalty of 3 months of interest at the mortgage's current interest rate. When paying off a fixed rate mortgage, general ...

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Bank of Canada Rate Update October 26, 2022

Bank of Canada Rate Update October 26, 2022

October 26, 2022 | Posted by: Bailey Coats

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ...

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Best Ways to Plan for Your Down Payment

Best Ways to Plan for Your Down Payment

October 19, 2022 | Posted by: Bailey Coats

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ...

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Common Mistakes That House Flippers Make & How to Avoid Them

Common Mistakes That House Flippers Make & How to Avoid Them

October 12, 2022 | Posted by: Bailey Coats

Mistakes That Can Make House Flipping a Flop Common Mistakes That House Flippers Make & How to Avoid Them Making it in the world of house flipping means making sound and prudent decisions. Read on t ...

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How Mortgage Rates Affect Buying Power?

How Mortgage Rates Affect Buying Power?

September 16, 2022 | Posted by: Bailey Coats

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ...

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Bank Of Canada Rate Update September 7, 2022

Bank Of Canada Rate Update September 7, 2022

September 7, 2022 | Posted by: Bailey Coats

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ...

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Should You Pay Off Your Mortgage Early?

Should You Pay Off Your Mortgage Early?

August 24, 2022 | Posted by: Bailey Coats

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ...

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How Many Homes Should You View Before Buying?

How Many Homes Should You View Before Buying?

August 10, 2022 | Posted by: Bailey Coats

If you are beginning the home-buying process, you may begin to wonder how long it will take until you find the perfect home for you and your family. The answer to that varies due to different factors. ...

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Bank of Canada Rate Update June 1, 2022

Bank of Canada Rate Update June 1, 2022

July 14, 2022 | Posted by: Bailey Coats

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank R ...

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Bank of Canada Rate Update July 13, 2022

Bank of Canada Rate Update July 13, 2022

July 14, 2022 | Posted by: Bailey Coats

As of 10AM EST on July 13, 2022, the Bank of Canada has increased the Overnight Rate by 1.00%. Variable rate mortgages, line of credits, student loans, and variable rate personal loans, are all based ...

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