Mindblown: a blog about philosophy.
-
How Canadians Can Find The Best Mortgage Rates
To secure affordable property in Canada, compare mortgage rates from various lenders based on market trends. Understand how inflation, global economy, and Bank of Canada's decisions impact rates. Improve credit score for better rates, consider different mortgage types, negotiate terms with lenders, and factor in additional costs like closing fees. Seek advice from financial counselors…
-
Is the Bank of Canada Pivoting on Interest Rates? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
The Bank of Canada reduced its key rate by 50 basis points in Early-Q4. Council members agreed a larger rate cut was justified to counter economic softness and weak growth.
-
Canada Ends Stress Test for Mortgage Switches | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Canada ends mortgage stress test for uninsured borrowers switching lenders during renewals. The change aims to correct imbalance between insured and uninsured homeowners at renewal time.
-
First-Time Home Buyer’s Guide: 10 Steps For Buying Your First Home
Buying your first home requires careful preparation, especially with high housing prices in Canada. A down payment typically ranges from 5% to 20% of the home's price, with additional costs like closing fees, home inspections, and property taxes. First-time buyers can access various incentives, such as the First-Time Home Buyers Incentive and the RRSP Home…
-
10 Proven Steps to Stop Foreclosure: A Complete Guide to Saving Your Home
Facing foreclosure can be daunting, but homeowners have options to prevent losing their property. Lenders often prefer to work with homeowners to avoid the costly foreclosure process. Key steps include understanding the foreclosure process, communicating with lenders, and exploring loan modification options such as principal reduction, interest rate adjustments, and term extensions. Government assistance programs…
-
Slow Mortgage Growth Persists Amid Buyer Uncertainty | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Mortgage debt growth in Canada remained historically slow, reflecting ongoing market hesitation from homebuyers in 2024.High borrowing costs and elevated home prices kept potential homebuyers sidelined throughout much of 2024.
-
Will the Bank of Canada Continue Cutting Rates? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
The Bank of Canada cut its benchmark rate by 50 basis points, marking a significant reduction. Total cuts in 2024 have reached 1.25% by Late-Q3, indicating the central bank's proactive stance in addressing economic conditions.
-
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.
-
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…
-
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
Got any book recommendations?