Mortgage Blog

Bank of Canada Rate Cut - Now What

Bank of Canada Rate Cut - Now What

By Mortgages Foundations

As expected by many, the Bank Of Canada announced this morning that it was cutting the policy interest rate by 25 basis points from 5% to 4.75%. Most lenders are expected to follow suit and cut their prime rate by an equal amount, meaning most will now be at 6.95%.  


This was the first...

05.06.24 08:50 PM - Comment(s)
Purchase Plus Improvements Mortgage

Purchase Plus Improvements Mortgage

By Mortgages Foundations

So, have you ever heard of a purchase plus improvements mortgage? It's a pretty interesting concept that can actually help home buyers finance both the purchase of a property and any necessary renovations or improvements. Sounds like a win-win, doesn't it? Well, let's dig into the details and explai...

03.06.24 02:02 PM - Comment(s)
Prepayment Penalties

Prepayment Penalties

By Mortgages Foundations

So, you're looking to understand mortgage prepayment penalties? Well, you've come to the right place! In this discussion, we'll dive deep into the topic and explain everything you need to know. First things first, let's define what a mortgage prepayment penalty actually is. When you take out a mortg...

30.05.24 01:34 PM - Comment(s)
Pros and Cons of a Mortgage Refinance

Pros and Cons of a Mortgage Refinance

By Mortgages Foundations

So, you're thinking about refinancing your mortgage? Well, let me break it down for you. Refinancing your mortgage can be a great way to potentially save money, but like anything in life, there are pros and cons to consider.  Let's start with the pros. One of the biggest advantages of refi...

29.05.24 02:27 PM - Comment(s)
Do you need a pre-approval

Do you need a pre-approval

By Mortgages Foundations

So, let's talk about the benefits of getting a mortgage pre-approval. If you're thinking about buying a home, this is definitely something you'll want to look into. It can save you time, money, and a whole lot of stress in the long run, so it's definitely worth considering. First off, what exactly i...

22.05.24 01:55 PM - Comment(s)