Mindblown: a blog about philosophy.
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Has the mortgage stress test served its purpose?
The mortgage stress test, requiring borrowers to qualify at a rate of 5.25% or their approved rate plus 2%, has been credited with preparing homeowners for higher borrowing costs during renewals. While new homebuyers face stress tests above 7.25%, existing homeowners may not be stress tested upon renewal but must consider their options carefully due…
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Quick Sale, Big Profits: Your Home Selling Guide | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Set the right price to attract offers quickly and maximize your profit from the sale. Boost curb appeal with simple upgrades to create a strong first impression on potential buyers.
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Mortgage Matters: New to Canada Program Highlights
Canada plans to welcome 1.5 million new immigrants from 2024 to 2026, increasing demand for mortgage financing. CMHC and Genworth Mortgage Loan have introduced incentive programs for newcomers, requiring a valid Social Insurance Number, employment history, and a minimum credit score of 600. Financing options include 90% for non-permanent residents and 95% for permanent residents.…
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Tips for Your Upcoming Mortgage Renewal | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Initiate discussions with lenders up to 120 days before renewal to compare rates and secure the best termsExplore options beyond your current lender to ensure you're getting the most competitive rate.
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How to Shop Smart for a Mortgage Deal | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Compare mortgage rates among three to five lenders to maximize potential savings. Consider different mortgage types to find the best rate for your credit and financial situation.
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Can I Get A 30-Year Mortgage?
Many homeowners are struggling with high mortgage rates and are considering longer amortization periods, such as 30 years, to lower monthly payments. In Canada, the standard amortization is typically 25 years, but uninsured mortgages can extend to 30 years. While this option offers lower payments and flexibility, it also means higher overall interest costs and…
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The Bank of Canada Cut Its Key Interest Rate to 4.5% | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
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Happy Labour Day | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Happy Labour Day! Labour Day is a chance to honor and appreciate the hard work and contributions of workers in various industries. It's a chance to look back at workers' rights achievements and labor rights progress over time. Sending warm wishes on Labour Day to honor the dedication and contributions of workers everywhere. May your…
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How Will Employment Data Impact Canadian Mortgage Rates? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Canada unexpectedly lost jobs in June, signaling an economic slowdown. Government of Canada bond yields fell in response to the weak employment data, suggesting a possible BoC rate cut.
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Mortgage Renewal: What It Is, How It Works | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
What is a Mortgage Renewal? Mortgage renewal involves renegotiating terms at the end of each mortgage term until fully paid. Key Considerations: Renewals allow adjustments in payment frequency, interest rates, and potentially changing lenders in Canada.
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