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Bank of Canada Increases 25 BPS

The Bank of Canada announced another rate increase in the Bank rate of .25bps on January 25th, 2023.  This is the eighth consecutive rate hike. If market expectations are correct, it could be also be its last of this rate-hike cycle. as expected, the BofC raised rates by 25 basis points, bringing its overnight target … Continue reading Bank of Canada Increases 25 BPS

Why Canada’s Mortgage Stress Test Remains Unchanged | Mortgage Tree

Despite calls to relax the mortgage stress test, the government has decided to keep it in place. Here’s why. It may not have come as a surprise to many, but the Office of the Superintendent of Financial Institutions (OSFI) recently announced it would be leaving the mortgage stress test unchanged moving into 2023. This means … Continue reading Why Canada’s Mortgage Stress Test Remains Unchanged | Mortgage Tree

How the Prohibition on the Purchase of Residential Property by Non-Canadians Act Helps Canadians | Mortgage Tree

Homeowners everywhere are watching as the Canadian government implements its new Prohibition on the Purchase of Residential Property by Non-Canadians Act, which went into effect on January 1, 2023. The Act defines residential property as any building with three homes or less and parts of buildings like a semi-detached house or a condominium unit. Fortunately, … Continue reading How the Prohibition on the Purchase of Residential Property by Non-Canadians Act Helps Canadians | Mortgage Tree

The First Home Savings Plan could help buyers | Mortgage Tree

If you’re a first-time homebuyer, the First Home Savings Plan could help you save for your down payment. Learn more about this program and how it can benefit you. Blog Introduction: The First Home Savings Plan (FHSA) is a new tax-free savings and investment program set to launch in mid-2023. This program is designed to … Continue reading The First Home Savings Plan could help buyers | Mortgage Tree

A Guide to Mortgages for International Buyers in Canada | Mortgage Tree

Find out what mortgage options you have as an international buyer. Are you an international buyer interested in purchasing real estate in Canada? While it may seem daunting, obtaining a mortgage as a non-resident of Canada is not impossible. In this blog post, we’ll review the process and provide some tips on how to make … Continue reading A Guide to Mortgages for International Buyers in Canada | Mortgage Tree

The Benefits of a Builder Rate Hold | Mortgage Tree

If you’re in the market for a new home, check out the benefits of a builder rate hold! If you’re planning to build a new home, you may be wondering how to lock in a low interest rate for the mortgage on your new build. Our team at Mortgage Tree can help. We offer something … Continue reading The Benefits of a Builder Rate Hold | Mortgage Tree

Mortgage Pre-approvals: Why They’re Important

A mortgage pre-approval is a commitment from a lender to provide you with funding for a home purchase, up to a certain mortgage amount, based on your financial qualifications. This document is typically valid for 120 days and allows you to shop for a home within that price range without having to re-qualify for a … Continue reading Mortgage Pre-approvals: Why They’re Important

The Importance of a Mortgage Renewal Reminder

As a homeowner, your mortgage is likely one of the biggest financial commitments you have. It’s important to stay on top of your payments and to be aware of when your mortgage is up for renewal. One way to do this is to sign up for a mortgage renewal reminder with Mortgage Tree. https://mortgagetree.ca/mortgage-tools/mortgage-renewal-reminder/ A … Continue reading The Importance of a Mortgage Renewal Reminder

How to Choose the Right Mortgage Broker | Mortgage Tree

Unsure of how to select the best mortgage broker for your needs? Look no further! Mortgage Tree has a mortgage broker that will suit everyone’s needs. We have put together a guide that will walk you through the process of choosing the best Mortgage Broker for you. Let’s Start from the Beginning At Mortgage Tree​, … Continue reading How to Choose the Right Mortgage Broker | Mortgage Tree