Mindblown: a blog about philosophy.

Interest in variable rate mortgages is rising, with five-year variable rate inquiries increasing from 5% to 8% year over year. Mortgage renewals now account for 39% of inquiries, up as many five-year terms from low-rate pandemic-era loans are ending. New home purchase mortgage inquiries have dropped from 71% to 47%, while refinancing inquiries doubled from…

First-time homebuyers can access various programs to ease financial burdens. The Home Buyers’ Plan (HBP) allows withdrawals from RRSPs for down payments, offering up to $35,000 tax-free. The First-Time Home Buyer Incentive provides 5% or 10% of the purchase price as a shared equity mortgage. New Brunswick offers a Home Ownership Program for low-income families,…

Mortgage affordability improved in seven of 13 Canadian cities due to stable borrowing costs and falling home sales. Hamilton saw the biggest improvement with a $9,600 price drop and $49 monthly savings. Toronto and Vancouver also saw price declines but remain costly. Conversely, Regina, Montreal, Victoria, Halifax, Ottawa, and Winnipeg experienced rising home prices and…

To find a good mortgage broker, comparing options is crucial. Brokers save time and money by handling the process efficiently. Seeking second opinions can lead to significant savings. It can be challenging to identify a reliable broker, but checking reviews and backgrounds can help. Look for brokers with experience, who shop around for rates, and…