by Allen Ehlert | July 18, 2024 | Economy, Mortgages, Personal Finance
According to the Bank of Canada’s report, uncertainty and cost pressures remain firms’ most frequently mentioned concerns. The sources of uncertainty were domestic factors: Economic growth Interest Rates Tax Policies Declining business sentiment Consumers cut...
by Allen Ehlert | May 15, 2024 | Insurance, Mortgages
The Canada Mortgage and Housing Corporation (CMHC) has implemented new mortgage rules for 2024. These rules affect various aspects of the mortgage process, including down payment requirements, qualification criteria, and insurance rules. It is important for Canadian...
by Allen Ehlert | April 28, 2024 | Mortgages
I got a response from social media where I quoted how much money I saved a client getting the exact same mortgage at the exact same bank but at a lower rate. The person sent me the following and said, “but these rates are lower”: I replied, “Ah yes, the ol’ posted...
by Allen Ehlert | April 12, 2024 | Mortgages, Personal Finance, Real Estate
Canada’s New 30 Year Mortgages Imagine this scenario: You’ve been saving up for years, patiently putting aside every spare dollar, dreaming of the day when you can finally buy your own home. As you scroll through real estate listings, you can’t help...
by Allen Ehlert | April 10, 2024 | Mortgages, Real Estate
The Canada Mortgage and Housing Corporation (CMHC) has recently announced the discontinuation of the First Time Home Buyer Incentive Program (FTHBI). The program was launched in September 2019 as part of the National Housing Strategy, offering qualifying...
by Allen Ehlert | December 9, 2023 | Economy, Mortgages, Personal Finance
Ever wondered how interest rates affect the value of a country’s currency? Buckle up and let’s dive into the intriguing world of currency and interest rates! The Relationship Between Interest Rates and Currency Value Central banks often increase interest...
by Allen Ehlert | December 4, 2023 | Mortgages, Real Estate
Wildfires in Canada are wreaking havoc on the lumber industry, with record-breaking fires burning 10 times the size of Toronto. The destruction of 4 million hectares of timber since June 6th, 2023 is having a significant impact on the wood-consuming industry. As a...
by Allen Ehlert | December 4, 2023 | Economy, Mortgages, Personal Finance
Many so-called experts claim as Canada’s baby boomers retire, there is a growing need for immigrants to fill the labour market. Actually, no. There are very few well-paying jobs in Canada (and you can’t survive in Canada without a well-paying job or...
by Allen Ehlert | December 4, 2023 | Economy, Mortgages, Personal Finance, Real Estate
Why You Should Avoid Choosing a 3-Year Fixed Mortgage in 2024 Thinking of getting a three-year fixed mortgage in 2024? You might want to reconsider. While some people are tempted to time the market and assume that interest rates will go down, this strategy is risky...
by Allen Ehlert | December 4, 2023 | Mortgages, Personal Finance
Interest rates in Canada have sharply increased, causing stress for Canadian households. With central bank rates at multi-year highs, mortgage holders will face significant payment increases when their mortgages reset in a couple of years. In addition, small...
