5 Mar

What Impact Will The Trade War Have On Mortgage Interest Rates in Ontario?

Latest News

Posted by: Philippe Alexandre

At midnight, the long-feared trade war officially started. President Trump imposed tariffs of 25% on goods from Mexico and Canada, along with 10% on Canadian energy and additional tariffs on Chinese imports. The move was justified as a way to address issues related to undocumented migration and drug trafficking. However, critics argue that Canada plays […]

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6 Jan

Mistake #10: Not Budgeting for Closing Costs

Mortgage Mistakes

Posted by: Philippe Alexandre

When buying a home, many people focus solely on saving for the down payment. While this is essential, overlooking the additional closing costs can leave you scrambling for funds at the last minute. Properly budgeting for closing costs ensures a smoother home-buying process and avoids unnecessary stress. What Are Closing Costs? Closing costs are the […]

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2 Jan

Mistake #8: Choosing the Wrong Type of Mortgage

Mortgage Mistakes

Posted by: Philippe Alexandre

One of the most critical decisions you’ll make when getting a mortgage is choosing between a fixed-rate and a variable-rate mortgage. Each option has its benefits and risks, and selecting the wrong one for your financial situation and risk tolerance can lead to stress and unnecessary costs over the long term. Fixed-Rate vs. Variable-Rate Mortgages […]

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31 Dec

Mistake #7: Underestimating the Impact of Rate Increases

Mortgage Mistakes

Posted by: Philippe Alexandre

Choosing a mortgage, especially a variable-rate mortgage, requires careful consideration of how interest rate changes could affect your monthly payments and overall affordability. Many borrowers underestimate how even a small rate increase can significantly impact their finances, leaving them unprepared for rising costs. How Rate Increases Affect Your Mortgage When interest rates rise, your lender […]

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30 Dec

Mistake #6: Overextending Your Budget

Mortgage Mistakes

Posted by: Philippe Alexandre

Getting approved for a mortgage can be an exciting moment, but just because you qualify for a certain amount doesn’t mean you should borrow to the max. Overextending your budget by taking on a mortgage that stretches your finances too thin can lead to long-term financial stress, limited savings, and difficulty handling unexpected expenses. Why […]

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27 Dec

Mistake #5: Focusing Only on Interest Rates

Mortgage Mistakes

Posted by: Philippe Alexandre

When shopping for a mortgage, it’s natural to be drawn to the lowest advertised interest rate. After all, a lower rate typically means lower monthly payments, right? While interest rates are important, focusing exclusively on them without considering other key factors can lead to costly mistakes and missed opportunities for savings. Why Interest Rates Aren’t […]

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24 Dec

Mistake #4: Refinancing Without a Clear Financial Plan

Mortgage Mistakes

Posted by: Philippe Alexandre

Refinancing your mortgage can be an excellent way to save money, access home equity, or consolidate debt. However, rushing into refinancing without a clear financial plan can lead to unnecessary expenses, higher debt, or financial strain. A well-thought-out strategy ensures that refinancing works in your favor and aligns with your financial goals. What Is Refinancing? […]

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23 Dec

Mistake #3: Ignoring Prepayment Privileges

Mortgage Mistakes

Posted by: Philippe Alexandre

When choosing a mortgage, most borrowers focus on the interest rate and monthly payments. While these are important, neglecting to consider prepayment privileges can be a costly mistake. These privileges allow you to pay off your mortgage faster without penalties, saving you thousands of dollars in interest and giving you more financial flexibility. What Are […]

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20 Dec

Mistake #2: Rushing into a Mortgage with Poor Credit

Mortgage Mistakes

Posted by: Philippe Alexandre

Your credit score plays a significant role in determining your mortgage options. While it may be tempting to jump into the housing market as soon as possible, rushing into a mortgage with poor credit can lead to higher interest rates, unfavorable terms, and long-term financial strain. Understanding the importance of your credit score and how […]

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