Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape
December 3, 2023 | Posted by: Harold Hagen
In recent years, we've witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn't just about swapping office desks for dinin ... [read more]
Canada's New Updated Mortgage Charter
November 23, 2023 | Posted by: Harold Hagen
The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ... [read more]
Understanding Fixed vs. Variable Rate Mortgages
November 15, 2023 | Posted by: Harold Hagen
If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ... [read more]
6 things to know about capital gains and taxes for people across Canada
November 2, 2023 | Posted by: Harold Hagen
So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ... [read more]
Tips for Improving Your Credit Score Before Applying for a Mortgage
November 1, 2023 | Posted by: Harold Hagen
Tips for Improving Your Credit Score Before Applying for a Mortgage For many people, buying a home is a significant milestone in their lives. However, getting approved for a mortgage is ... [read more]
Bank Of Canada Rate Update October 25, 2023
October 25, 2023 | Posted by: Harold Hagen
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ... [read more]
Mortgage Strategies in a Rising Interest Rate Environment
October 24, 2023 | Posted by: Harold Hagen
Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ... [read more]
Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?
October 6, 2023 | Posted by: Harold Hagen
Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ... [read more]
Understanding and Utilizing Home Equity
October 1, 2023 | Posted by: Harold Hagen
If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ... [read more]
Unlocking the Door to Your Dream Home: Exploring First-Time Homebuyer Options
September 27, 2023 | Posted by: Harold Hagen
Unlocking the Door to Your Dream Home: Exploring First-Time Homebuyer Options Home Sweet Home: these three words hold a special place in our hearts. Owning a home is a dream many of us aspire to ... [read more]
Can a first-time home buyer have a mortgage co-signer?
September 17, 2023 | Posted by: Harold Hagen
Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ... [read more]
Bank of Canada maintains policy rate, continues quantitative tightening
September 6, 2023 | Posted by: Harold Hagen
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ... [read more]
Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.
August 23, 2023 | Posted by: Harold Hagen
Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ... [read more]
Rental Cash Damming 101, Part 1
August 10, 2023 | Posted by: Harold Hagen
What Is Rental Cash Damming? Cash damming is a CRA-approved financial strategy aimed at transforming non-tax-deductible personal debt into tax-advantaged business or investment debt. This str ... [read more]
Home Valuation and Appraisals: Unveiling the Mechanics, Influencing Factors, and Value-Boosting Tips
August 9, 2023 | Posted by: Harold Hagen
Home Valuation and Appraisals: Unveiling the Mechanics, Influencing Factors, and Value-Boosting Tips The process of buying, selling, or refinancing a home involves a critical component that can gre ... [read more]
Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience
August 5, 2023 | Posted by: Harold Hagen
Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ... [read more]
Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada
July 27, 2023 | Posted by: Harold Hagen
Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r ... [read more]
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
July 12, 2023 | Posted by: Harold Hagen
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ... [read more]
Catching Up on Retirement with an Income Property: A Wise Investment Strategy
June 21, 2023 | Posted by: Harold Hagen
As the retirement landscape continues to evolve, many individuals find themselves concerned about the adequacy of their savings and the possibility of outliving their nest egg. However, there is a sol ... [read more]
Some great tips to help you save for a home
June 13, 2023 | Posted by: Harold Hagen
A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ... [read more]
Bank Of Canada Rate Update June 7, 2023
June 7, 2023 | Posted by: Harold Hagen
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4.75%, with the Bank Rate at 5% and the ... [read more]
Strategies for Speeding Up Mortgage Repayment
June 3, 2023 | Posted by: Harold Hagen
Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ... [read more]
Benefits of Buying a New Home in the Summer
May 17, 2023 | Posted by: Harold Hagen
Summertime brings sunny days, warm weather, and an ideal opportunity for house hunting. If you're considering buying a new home, the summer months offer several advantages worth considering. In this ... [read more]
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First-Time Home Buyer Budgeting: What You Need to Know
April 20, 2023 | Posted by: Harold Hagen
As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ... [read more]
Bank Of Canada Rate Update April 12, 2023
April 12, 2023 | Posted by: Harold Hagen
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ... [read more]
First Home Savings Account (FHSA)
April 11, 2023 | Posted by: Harold Hagen
First Home Savings Account (FHSA) In its 2022 Federal Budget, the Canadian Government introduced the First Home Savings Account (FHSA) a new registered savings plan designed to help Canadians ... [read more]
5 Things NOT to do When Selling Your Home
March 16, 2023 | Posted by: Harold Hagen
The process of selling a residential property can be time-consuming and emotionally involving, especially if it is your first sale. While your home's curb appeal influences a prospective buyer's poten ... [read more]
Bank of Canada Rate Update March 8, 2023
March 8, 2023 | Posted by: Harold Hagen
Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at ... [read more]
Selling Your Home in the Winter: How You Can Make the Most of It
March 5, 2023 | Posted by: Harold Hagen
Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ... [read more]
Title insurance and home insurance–protect what matters most
February 27, 2023 | Posted by: Harold Hagen
When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ... [read more]
Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening
January 25, 2023 | Posted by: Harold Hagen
The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ... [read more]
Another BoC rate increase... Now what?
January 25, 2023 | Posted by: Harold Hagen
The Bank of Canada increased their overnight rate this week by another 0.25%, bringing our prime lending rate to 6.70% with most Lenders. The Bank also stated that it expects to hold off on further ra ... [read more]
Prohibition on the Purchase of Residential Property by Non-Canadians Act
January 13, 2023 | Posted by: Harold Hagen
The Canadian housing market has undergone radical shifts in direction over the past several years, through dramatic peaks in major urban areas followed by a subsequent softening to the tune of -12% si ... [read more]
Should You Spend the Full Mortgage Amount You're Approved For?
December 28, 2022 | Posted by: Harold Hagen
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ... [read more]
A Holiday Poem
December 19, 2022 | Posted by: Harold Hagen
Eggnog, tinsel, falling snow, Buttered rum and mistletoe, Christmas trees and hanging lights, The sound of carolers filled the nights. You’ve been shopping long and hard, Thank your lucky S ... [read more]
The Pros and Cons of Fixed vs. Variable Mortgages
December 8, 2022 | Posted by: Harold Hagen
When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ... [read more]
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
December 7, 2022 | Posted by: Harold Hagen
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ... [read more]
10 Things to Know About the Offer Process
November 30, 2022 | Posted by: Harold Hagen
10 Things to Know About the Offer Process Before making an offer on your dream house, here are the ten things you need to know about buying real estate to ensure your offer is solid. Buying real e ... [read more]
A Six-Step, Back to Basics Financial Plan for Most Every Canadian
November 21, 2022 | Posted by: Harold Hagen
It's a tough time to know what the right financial move is at the moment. Interest rates are increasing, while stocks are in bearish territory. It's easy to forget that there are smart things that you ... [read more]
10 Important Questions to Ask Your Contractor
November 9, 2022 | Posted by: Harold Hagen
10 Important Questions to Ask Your Contractor Are you thinking about hiring a contractor before selling real estate? Here are ten important questions you should ask the contractor before signing a co ... [read more]
Bank of Canada Rate Update October 26, 2022
October 26, 2022 | Posted by: Harold Hagen
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ... [read more]
Best Ways to Plan for Your Down Payment
October 19, 2022 | Posted by: Harold Hagen
Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ... [read more]
Common Mistakes That House Flippers Make & How to Avoid Them
October 12, 2022 | Posted by: Harold Hagen
Mistakes That Can Make House Flipping a Flop Common Mistakes That House Flippers Make & How to Avoid Them Making it in the world of house flipping means making sound and prudent decisions. Read on t ... [read more]
Gut Punch from the Bank of Canada
October 12, 2022 | Posted by: Harold Hagen
Last Thursday, Bank of Canada Governor Tiff Macklem gave a speech, quite simply titled, “Restoring price stability to Canadians”. I won’t bore you with the entire speech, but ... [read more]
How Mortgage Rates Affect Buying Power?
September 16, 2022 | Posted by: Harold Hagen
How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ... [read more]
Bank Of Canada Rate Update September 7, 2022
September 7, 2022 | Posted by: Harold Hagen
Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ... [read more]
Should You Pay Off Your Mortgage Early?
August 24, 2022 | Posted by: Harold Hagen
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ... [read more]
How Many Homes Should You View Before Buying?
August 10, 2022 | Posted by: Harold Hagen
If you are beginning the home-buying process, you may begin to wonder how long it will take until you find the perfect home for you and your family. The answer to that varies due to different factors. ... [read more]
Bank Of Canada Rate Update July 13, 2022
July 13, 2022 | Posted by: Harold Hagen
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ... [read more]
Tips for Buying Rental Investment Properties
July 6, 2022 | Posted by: Harold Hagen
Most people float the idea of investment property around at some point in their life, and the growing popularity of real estate buy-and-flip shows only makes the prospect more enticing. However, befor ... [read more]
5 Negotiation Secrets Smart Buyers Use to Get Better Deals
June 22, 2022 | Posted by: Harold Hagen
Being a buyer in today's real estate market can be challenging. The market is very competitive right now, making the average buyer feel like it is impossible to secure a good deal. Luckily, some trick ... [read more]
Bank Of Canada Rate Update June 1, 2022
June 1, 2022 | Posted by: Harold Hagen
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ... [read more]
How a Mortgage Pre-Approval Can Protect You from Rising Rates
May 26, 2022 | Posted by: Harold Hagen
With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ... [read more]
How is a Private Mortgage Different Than a Traditional Bank Mortgage
May 4, 2022 | Posted by: Harold Hagen
Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ... [read more]
Inflationary Sentiment
April 26, 2022 | Posted by: Harold Hagen
Inflationary Sentiment Sentiment /ˈsen(t)əmənt/ a view of or attitude toward a situation or event; an opinion. Seems inflation has turned into a runaway horse lately. From being lar ... [read more]
Home-Buying 101: A Guide to Purchasing Your First Home
April 20, 2022 | Posted by: Harold Hagen
Home-Buying 101: A Guide to Purchasing Your First Home Buying a home involves a lot of complex steps, but by doing your homework ahead of time, you can boost your know-how and have more confidence in ... [read more]
Bank Of Canada Rate Update April 13, 2022
April 13, 2022 | Posted by: Harold Hagen
Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ... [read more]
5 Benefits of an Investment Property
April 6, 2022 | Posted by: Harold Hagen
5 Benefits of an Investment Property Building a strong real estate portfolio is a great way to create passive income now and a strong investment portfolio for later. If you are looking at buildin ... [read more]
Tips for Picking the Right Home to Flip
March 16, 2022 | Posted by: Harold Hagen
Guide to Choosing a House to Flip for Maximum Profit Not every property will make a promising flip. Here is everything you need to know to maximize your profits from the very start while minimizing ... [read more]
Alberta Fundamentals Looking Strong
March 16, 2022 | Posted by: Harold Hagen
The Canadian housing market is certainly outperforming previous estimates and topping the charts when it comes to year-over-year growth. For example, Home sales in Toronto posted the largest monthly i ... [read more]
Bank Of Canada Rate Update March 2, 2022
March 2, 2022 | Posted by: Harold Hagen
Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ... [read more]
Can Housing Upgrades Affect Your Insurance?
February 23, 2022 | Posted by: Harold Hagen
Housing upgrades have the potential to leave you underinsured so it is important to always contact your home insurance before starting a home renovation. Home renovations are trendy right now due to ... [read more]
Rent to Own Homes vs. Mortgage: How Do They Work?
February 14, 2022 | Posted by: Roar Solutions
Rent to Own Homes vs. Mortgage: How Do They Work? If you're hoping to achieve your dreams of homeownership, rent-to-own and mortgage are two options to consider. Here is everything you need to know a ... [read more]
Bank Of Canada Rate Update January 26, 2022
January 26, 2022 | Posted by: Harold Hagen
Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ... [read more]
Top 10 Questions to Ask Your Mortgage Broker in Alberta
January 19, 2022 | Posted by: Harold Hagen
Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces ... [read more]
4 Homebuyer Tips To Make House Hunting More Efficient
January 13, 2022 | Posted by: Harold Hagen
Going house hunting can be fun and exciting at first, but the more houses you look at, the more frustrating you might become -- especially if you just can't seem to find the perfect home. No one sai ... [read more]
Prequalification and Pre-Approval—What is the Difference? Home Buying in Alberta
December 15, 2021 | Posted by: Harold Hagen
What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ... [read more]
Bank Of Canada Rate Update December 9, 2021
December 8, 2021 | Posted by: Harold Hagen
Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent ... [read more]
What to do if You Are Denied a Mortgage
November 24, 2021 | Posted by: Harold Hagen
What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ... [read more]
How to Know if it's Time to Refinance
November 3, 2021 | Posted by: Harold Hagen
How to Know if it's Time to Refinance According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits ... [read more]
Bank Of Canada Rate Update Oct 27, 2021
October 27, 2021 | Posted by: Harold Hagen
Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with ... [read more]
Five Great Benefits of Owning an Investment Property
October 20, 2021 | Posted by: Harold Hagen
Five Great Benefits of an Investment Property Maybe you have considered investing in real estate but aren't sure if it's the right move for you. There are several benefits to an investment property, ... [read more]
10 Commandments Of Applying For A Mortgage
October 7, 2021 | Posted by: Harold Hagen
THOU SHALL NOT… 1. Change Jobs, become self-employed or quit your job. 2. Buy a car, truck or van. (Unless you wish to live in it) 3. Use credit cards excessive ... [read more]
What Is Home Equity and How Can I Build It?
October 6, 2021 | Posted by: Harold Hagen
Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen ... [read more]
Covid-19 Managing Uncharted Waters
March 23, 2020 | Posted by: Harold Hagen
Covid-19 Managing Uncharted Waters As the current health crisis plays out, the months ahead may potentially prove to be trying times. For people with debt, and in particular mortgage debt, mone ... [read more]
First -Time Home Buyer Incentive
February 29, 2020 | Posted by: Harold Hagen
The Federal Government’s new First-Time Home Buyer Incentive (FTHBI) program offers an interest free loan towards the purchase of a new home for up to 25 years. Launched September 02, 20 ... [read more]
Dutch Disease - Economy
February 22, 2020 | Posted by: Harold Hagen
As part of my daily effort to monitor the pulse of the Canadian economy and understand market future trends, I pay close attention to historical economic patterns. For example, five years ago Can ... [read more]
The Dream - Susan's story
February 18, 2020 | Posted by: Harold Hagen
Susan had moved to Red Deer, Alberta three years ago with her two teenage children. Owning a home had been a long-time dream of hers, but since she had always been a renter, and her growing children w ... [read more]
FIXED OR VARIABLE RATE?
February 4, 2020 | Posted by: Harold Hagen
Possibly the number 2 question asked most often (after mortgage rate), is identifying whether a fixed or variable rate mortgage product is best for you. Although we all wish a crystal ball would sho ... [read more]
5 Tips For A Smooth Mortgage Renewal
April 4, 2019 | Posted by: Harold Hagen
ITS RENEWAL TIME! Here are 5 Helpful Tips For A Smooth Mortgage Renewal 1. Start Shopping 4 Months before your mortgage term is up. Mark your current mortgage maturity date on the calendar, ... [read more]
Bank of Canada; Saving Green
March 22, 2019 | Posted by: Harold Hagen
Up till now, BoC Governor Stephen Poloz had stated repeatedly that the overnight rate (currently at 1.75%) would need to reach the Bank’s “neutral range” target of 2.5-3.5%. “ ... [read more]
Stress Test Best Practices Tool Kit
May 9, 2018 | Posted by: Harold Hagen
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical informa ... [read more]
Should You Spend the Full Mortgage Amount You're Approved For?
March 28, 2018 | Posted by: Harold Hagen
Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ... [read more]
Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!
March 21, 2018 | Posted by: Harold Hagen
Borrowers are loving the current record low interest rates, and homeowners stand to benefit even more. If you bought your home more than a few years ago, you could probably benefit from a refinance ... [read more]
Strategies to Dig Yourself Out of the Debt Hole
March 14, 2018 | Posted by: Harold Hagen
Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ... [read more]
Why You Need an Emergency Fund And How to Get One
March 7, 2018 | Posted by: Harold Hagen
Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ... [read more]
The Benefits of Investing in Income Producing Properties
February 28, 2018 | Posted by: Harold Hagen
Making money in any real estate venture is a difficult task, and many people don't have the skills (or the stomach) for flipping houses. An alternative to this intrinsically risky activity is to purch ... [read more]
4 Hidden Problems That Could Be Hurting Your Home Sale
February 21, 2018 | Posted by: Harold Hagen
One of the biggest fears that home sellers have is that their property will end up on the real estate market for months on end. This is a nightmare for a number of reasons. First of all, having your h ... [read more]
