Philosophy on Financial Wellness 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...

Opt-Out of Time of Use Pricing

For homeowners who’ve been craving more control over hydro expenses, you’ve been heard. If you’re a homeowner who currently pays Time-of-Use (TOC) electricity prices you can now switch to Tiered prices (if you’d prefer it). Both models have merit. And having the...

Financial Tune Up, First Time Home Buyer, Philosophy on Financial Wellness

Refinancing During Covid-19

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...

Expanding Real Estate Portfolio, Financial Tune Up, First Time Home Buyer, In the News, Philosophy on Financial Wellness

Rate Update

The Bank of Canada dropped its overnight rate down by 0.50% as a response to the global economic slowdown resulting from the Covid-19 crisis Bank Prime was at 3.95% and will be dropping to 3.45%.For variable rate clients, you can expect to see your rate drop at the...

Financial Tune Up, First Time Home Buyer, Improving Your Home, Philosophy on Financial Wellness, Uncategorised

Geothermal Heating: Good Value or taking one for the team?

Hello clients, it’s your old pal Bitey the sad polar bear. I am here to talk to you about stuff that is super important to me; geothermal homes and green technology! Increasingly, environmentally conscious homeowners are looking to new products and technologies to...

In the Community, Philosophy on Financial Wellness

20 Years at 233 Queen Street South

Time flys! It has been 20 years since I bought our office building at 233 Queen Street South. My, that was a time to remember. I had just bought our cottage in 1999 with a hope and a prayer and was renovating an old stone house on Fiddlers Green for resale. At this...