Expanding Real Estate Portfolio, First Time Home Buyer
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 of Canada’s target rate is 0.25%. And it’s expected to stay this low well into 2022, maybe even 2023 when our economy has recovered from COVID-19. A “recovered economy” by the Bank of Canada’s terms is when inflation has reached roughly 2 percent. Lenders are posting competitive rates of 1.70% on a 5-year variable mortgage to 1.94% on a 5-year fixed mortgage. For borrowers, these are exciting numbers. Before you sign on the... Read more »
Expanding Real Estate Portfolio, First Time Home Buyer, Improving Your Home, In the News
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...
Financial Tune Up, First Time Home Buyer, In the News
Is now finally the time to consider locking in? What a time of uncertainty! With the kids heading back to school in September, nearly all of the conversations we are having right now loopback at some point to the potential threat of a second wave. That second...
Expanding Real Estate Portfolio, Financial Tune Up, First Time Home Buyer, Planning Your Move, Uncategorised
Ok so maybe it’s too soon to stop worrying altogether. Although, after many weeks of uncertainty, it looks as though economists are sallying forth with fresh predictions about what a recovery will look like. After a very strong first quarter in housing, all bets are...
Financial Tune Up, First Time Home Buyer, Philosophy on Financial Wellness
Refinancing during COVID, is it a good idea? Our lender’s partners are continuing to operate and we are here to help. Whether that’s for a deferral of a mortgage payment or a consolidation of accumulated debt in a refinance. Or is it worth considering a...
Financial Tune Up, First Time Home Buyer, In the News
With all of the economic upheaval in the last 2 months, we have seen the Bank of Canada drop their overnight rate down to 0.25%. It is projected to stay there for the foreseeable future. Any hope of an economic recovery is tied to a potential vaccine and until we have...
