First Time Home Buyer Archives - The Personal Mortgage Group

Expanding Real Estate Portfolio, First Time Home Buyer, In the News, Philosophy on Financial Wellness, Planning Your Move, Self Employed, Successful Retirement Planning

How To Cope With Rate Hikes: The PMG’s Advice

With inflation numbers coming in higher than expected fuelled by a number of factors including supply pressures, lockdowns in China and even the war in Ukraine, the BoC has committed to increasing their rate very aggressively until they have achieved their “neutral rate”. The neutral rate is defined as: “the policy rate that will allow the economy to operate at its full potential while keeping inflation at or near the Bank’s 2% target.” This number is typically in the 2% – 3% range. For variable rate holders, this could mean another 1.50% increase over the next year. So, although the pace of increases has accelerated, we are sticking to our advice from the...

Inflation: “Or, How I Learned To Stop Worrying And Love Rising Interest Rates

Ok, we get that it’s hard to love higher rates but hear us out… Most of our clients with variable rate mortgages have seen rates rise before. Many of you had higher rates before you have enjoyed historic lows over nearly the last two years. We’re taking...

Expanding Real Estate Portfolio, First Time Home Buyer, Planning Your Move, Self Employed

8 Things Buyers Need To Know Before Getting Into Today’s Housing Market

So a licensed mortgage broker and a real estate agent walk into a bar. Just kidding, there’s no joke here because getting into today’s housing market is nothing to laugh at. If you know someone, or are someone who has embarked on the journey of buying a home in Canada...

Expanding Real Estate Portfolio, First Time Home Buyer, Planning Your Move

How to Buy in a Seller’s Market

It’s a hot seller’s market this winter. In Hamilton/Burlington alone, the REALTORS® Association of Hamilton-Burlington (RAHB) reported a 41.6% increase in home sales in December 2020 over December 2019, however, there are 52.2% less active listings. This means: there...

Expanding Real Estate Portfolio, First Time Home Buyer

The Truth About Low Mortgage Interest Rates in Canada

If you’re a homeowner or a soon-to-be homeowner, understanding interest rate trends are important. There’s more to the rates than simply increases and decreases. Here’s a little Interest Rate 101 to help you understand what the rates really mean. Right now, the Bank...

Expanding Real Estate Portfolio, First Time Home Buyer, Improving Your Home, In the News

The Increased Price of Construction Materials

Hello everyone, It’s Suzanne Boyce the former owner, and while that may be the case, I’m not quite out to pasture yet. Though I must say, COVID has certainly made it feel that way some days! We at PMG wanted to give everyone the heads up that the price of construction...