You may want to review your current mortgage commitments. The current Bank of Canada overnight rate is at an all time low of .25% and the Prime Rate is 2.45%. This means that interest rates on loans and mortgages have never been lower. Many of my clients have found great savings by either refinancing their current mortgage at a lower interest rate or by paying a penalty to break their current mortgage and refinancing. Over the period of your mortgage even a small decrease in your interest rate... [read more]

All levels of government: federal, provincial and municipal have proposed changes to the real estate industry. The hope is to make home buying easier for first time buyers. Proposed changes may also make it more difficult for current homeowners wishing to move up to a luxury home by increasing Land Transfer Taxes. Here’s what you need to know. RRSP HOME BUYERS PLAN The federal government is considering an increase to the withdrawal limits that first-time homebuyers can make from... [read more]

In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]