Category: Uncategorized

Start by getting pre-approved to show affordability—credit score >720 boosts your mortgage options significantly.
Compare mortgage options, including government programs and incentives like $5K tax credit or $60K RRSP withdrawals.

Mortgage pre-approval lets buyers know how much they can afford before beginning their Real Estate search.

It helps narrow your property search to homes that match your approved mortgage budget.

Sellers prefer pre-approved buyers, especially in competitive Real Estate markets with multiple offers.

Pre-approval secures an interest rate for up to 120 days, shielding buyers from potential increases.

Don’t get pre-approved unless ready to purchase within 60–120 days, as it affects credit files.

In 2025, stronger credit profiles support a more stable housing market compared to the 2000s.
Buyers with higher credit scores access lower rates, more loan choices, and smoother approval processes.
Today’s buyers are generally more financially qualified, raising competition and reinforcing market resilience.
Good credit can save thousands annually by unlocking better mortgage terms amid elevated interest rates.
Your credit score matters more than headlines—improve it to increase flexibility and buying power in 2025.

60% of Canadian mortgages will renew in 2025–2026, with five-year fixed borrowers facing ↑ 15–20% payment increases.
~25% of borrowers could see payments drop, especially those with variable-rate, variable-payment mortgages.
10% of fixed-payment variable-rate borrowers may face payment spikes over ↑ 40% due to negative amortization.
Median mortgage debt service ratios will rise from 15.3% to 18% by late 2026.
Most borrowers can manage increases with income gains, amortization extensions, or home equity line access.

Your mortgage rate isn’t random—it’s shaped by economic forces, lenders’ costs, and risk factors.
Lenders borrow money too—your rate mostly depends on what it costs them to borrow.

Bond yields (~3%) expected stable, directly influencing fixed mortgage pricing.

By mid‑2025 overnight rate may drift between 2–3% range.

Canadian mortgages have amortizations up to 30 years, with typical terms lasting five years.
Interest rates can be fixed or variable; your rate depends on your financial risk profile.
Improving your credit score and income helps secure lower interest rates and better terms.
Closed mortgages limit early payments, while open terms allow flexibility but charge higher rates.
Approval depends on credit, income, down payment, and debt; 5% minimum down payment required.

Mortgages are secured loans specifically used to purchase or refinance Real Estate properties.

Personal loans can be secured or unsecured and cover expenses like cars, education, or vacations.

Mortgages require down payments, offer lower interest rates, and have longer repayment terms than most loans.

Loans range from $100 to tens of thousands; mortgages usually start at hundreds of thousands.

Mortgages include fixed, variable, open, closed, and hybrid options with terms up to 30 years.