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How Will the BoC’s Rate Cut Affect the Housing Market? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
The 50-basis point cut aims to stimulate buying activity in the housing market. Increased buyer interest may lead to rising home prices as demand outpaces supply.
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Market Reactions to BoC’s Rate Cut and Future Outlook | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Many economists anticipate smaller, 25 bps cuts moving forward, aiming to reach a neutral rate by mid-2025. The market currently anticipates a rate reduction to around 3.19% by the end of January. The rate is expected to decrease further to approximately 3.01%and by June and July, rates are likely to stabilize near 2.75%. By December…
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Understanding Different Types of Mortgages: Helpful Tips for New Canadians
Understanding various types of mortgages and their features can help new Canadians make informed decisions to achieve their financial goals. Continue to full article
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A Warning About Canadian Fixed Mortgage Rates
Fixed mortgage rates may rise despite expected cuts from the Bank of Canada (BoC). While the BoC has reduced its policy rate from 5.0% to 3.75%, these cuts primarily affect variable rates. Fixed rates are influenced by Government of Canada (GoC) bond yields, which are also impacted by rising US Treasury yields. Recent US inflation…
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5 Options if You Can’t Afford Your Mortgage | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Contact your lender immediately to explore options, such as skipping a payment or renegotiating terms. Extend your amortization to lower monthly payments, but note this increases long-term interest costs.
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Mortgage Broker vs. Bank: Which Is Better for You? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Mortgage brokers are licensed intermediaries matching borrowers with lenders, while banks are direct lenders setting their own rates.Brokers provide access to multiple lenders, while banks limit options to their own mortgage products.
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The Cascade Mortgage Strategy: A Smart Way to Capture Falling Rates Without Going Variable
With interest rates declining, homeowners can optimize borrowing costs through the Cascade Mortgage Strategy, which allows for strategic prepayments and resets at lower rates without going variable. This proactive approach helps capture savings before renewal dates, reducing the risk of high rates at renewal. By making annual prepayments, homeowners can lower monthly payments or pay…
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Are New Mortgage Changes Boosting Home Accessibility? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
New mortgage rules in Canada take effect December 15, 2024, marking a significant policy shift. The price cap for insured mortgages increases from $1M to $1.5M, enhancing accessibility.
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What Keeps Calgary’s Mortgage Arrears Low? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Calgary is in CMHC's "low-risk" group, with stable mortgage arrears expected in the near future. Mortgage arrears in Calgary remain near post-pandemic lows.
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Canada’s New Mortgage Rules May Impact Buyers | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Canada’s mortgage qualification rules eased, with insured mortgage cap raised to $1.5M and 30-year amortizations available.Borrowers face a decision between three-year fixed or five-year variable rates, with a 0.9% differential currently.
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