by Marco Abballe | Nov 18, 2022 | Blog, Finance, Mortgage
In a rising rate environment like we’re currently experiencing, chances are you’ve heard the word “trigger” a lot lately, especially if you’re in a variable-rate mortgage.What’s a Trigger Rate? A mortgage is made up of two components: 1) Interest; and 2) Principal....
by Marco Abballe | Nov 4, 2022 | Blog, Homeownership, Mortgage
While first-time homebuyers are often required by their lender to pay property taxes as part of their mortgage payments, many people continue to pay them like this throughout their time as mortgage holders. Once you’re no longer required to pay taxes with your...
by Marco Abballe | Oct 21, 2022 | Blog, Homeownership, Mortgage
Rent-to-own programs enable borrowers to build equity in a specific property as tenants with an option to buy the property within an established timeframe – typically between one and five years. As with any program, it’s important to understand how it works before...
by Marco Abballe | Oct 7, 2022 | Blog, Homeownership, Mortgage
Whether you’re in the market for a mortgage on your new home or you’re looking to renew or refinance an existing mortgage, it’s important to work with a mortgage agent who has access to multiple lender types – including, banks, credit unions and monolines, as well as...
by Marco Abballe | Sep 16, 2022 | Blog, Homeownership, Mortgage
The Bank of Canada (BoC) has raised its benchmark interest rate five consecutive times this year – most recently increasing 0.75% on September 7th. And while these increases are coming after years of historically low rates, some borrowers may be feeling the increases...
by Marco Abballe | Sep 2, 2022 | Blog, Economy
Everyone seems to be talking about inflation more than ever these days. And while Inflation in Canada has come down a little recently, it remains far too high. After rising rapidly to reach 8.1% in June, inflation as measured by the consumer price index (CPI) was 7.6%...
by Marco Abballe | Aug 19, 2022 | Blog, Homeownership
Toronto recently joined the roster of Canadian cities allowing for garden suites – secondary freestanding backyard homes that tie into a main residence’s services and utilities – which has many people wondering how this could help make housing more affordable. Garden...
by Marco Abballe | Aug 5, 2022 | Blog, Economy, Finance
As inflation soars to a 40-year high, and with interest rates expected to continue rising, many Canadians are feeling financially stretched. For those with a mortgage up for renewal, the prospect of dealing with higher mortgage payments is very real. That said, there...
by Marco Abballe | Jul 15, 2022 | Announcements, Blog, Economy, Mortgage
In an effort to stabilize the economy and curtail rising inflation and hot housing markets, the Bank of Canada (BoC) has been steadily increasing interest rates – most recently on July 13th when the overnight rate rose a full percent, which was the fourth consecutive...
by Marco Abballe | Jul 1, 2022 | Blog, Homeownership
Ottawa has launched the first phase of its Canada Greener Home Loan program, which offers interest-free loans to Canadians planning upgrades that will have a significant impact in reducing their home’s environmental footprint. The program provides interest-free loans...
