3 Jan

5 MISTAKES FIRST TIME HOME BUYERS MAKE

General

Posted by: Tracy Luciani Price

Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes First Time Home Buyers commonly make, and how you can avoid them and look like a Home Buying Champ. 1. Shopping Outside Your Budget It’s always an excellent idea […]

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2 Jan

November Data Confirm Canadian Housing Rebound 

General

Posted by: Tracy Luciani Price

Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the ninth consecutive month and now stands a full 20% above the six-year low reached in February 2019. While the chart below shows that monthly home sales are now well above their 10-year average, they remain 6%-to7% below […]

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12 Nov

CREDIT REPORTS: YOU’VE SCORED! BUT ARE YOU PLAYING THE GAME?

General

Posted by: Tracy Luciani Price

For most people, your personal credit score and how a credit score is calculated are complete mysteries. How can you be expected to play and be successful if you aren’t even told the rules of the game? There are things borrowers can do to improve their score so they can access better mortgage products and […]

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31 Oct

Bank of Canada Holds Policy Rate Steady Amid Global Uncertainty

General

Posted by: Tracy Luciani Price

  It is rare for the Bank of Canada and the US Federal Reserve to announce rate decisions on the same day, but today’s announcements highlight the stark differences in policy in the two countries. The Bank this morning announced they would maintain their target for the overnight rate at 1.75% for the eighth straight […]

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9 Oct

5 MORTGAGE TIPS TO HELP YOU AFFORD A HOME

General

Posted by: Tracy Luciani Price

Buying a home is more difficult now than ever—and this is not news to anyone! No matter where you live, the recent stress testing measures, increase in housing prices in major cities, and continued increase of the cost of living all combine to make home ownership a daunting task. But we do want to offer […]

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10 Sep

FIRST TIME HOME BUYERS INCENTIVE PROGRAM

General

Posted by: Tracy Luciani Price

The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are the key points you need to […]

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5 Sep

FORECLOSURE, BANKRUPTCY, CONSUMER PROPOSAL & CREDIT COUNSELING

General

Posted by: Tracy Luciani Price

The Canadian Bankers Association’s latest report on mortgage delinquency shows that Saskatchewan has the highest per capita of all the provinces. The national average shows that .24% of home owners are having difficulty paying their mortgage. Saskatchewan is more than triple that at .80% with next in line Atlantic Canada at .51% and then Alberta at .46%. […]

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4 Sep

4 WEIRD THINGS LENDERS ASK FOR

General

Posted by: Tracy Luciani Price

A number of times I have had people who wonder why they need to provide so much documentation when it comes to arranging a mortgage. Besides an employment letter, you are usually asked to provide a pay stub and your most recent Notice of Assessment (NOA) to prove income. “Why do they need all 3, […]

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27 Aug

RAISE YOUR CREDIT SCORE IN 3 MONTHS

General

Posted by: Tracy Luciani Price

While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with brokers. He had a client referred to him by a mortgage broker who had a conundrum. She […]

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6 Aug

5 WAYS YOU COULD USE A CHIP REVERSE MORTGAGE

General

Posted by: Tracy Luciani Price

Reverse mortgages are continuing to grow as a retirement solution for Canadians 55+. Homeowners 55+ are unlocking their home equity for tax-free funds that improve their cashflow and pay-off higher interest loans. Consider your own financial needs. Do any of these 5 common scenarios sound familiar? 1) You have missed a payment/made a late payment. […]

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