The Bank of Canada has delivered its first rate cut, lowering its key lending rate by 25 basis points to 4.75% (previously noted as 5.00%).This is the central bank’s first rate cut since the pandemic in March 2020. In its statement, the Bank said, “With...
Wouldn’t it be nice if your mortgage interest could be tax deductible? What if I were to tell you it is possible in Canada. Maybe not in all cases, but I’d like to share some situations where it can be. Let’s demystify this seemingly complex topic and break it down to...
Some people think that the only time to reach out to a mortgage broker is when they’re in the market for a new house. But as you’ll see below, mortgage brokers can assist you with a variety of financing needs at every stage of your (adult) life. In 2023,...
If you’re a first-time buyer (or know somebody who is), you may be interested in knowing more about Canada’s brand new Tax-Free First Home Savings Account, of FHSA for short. The FHSA will let you save up to $8,000 tax-free annually—up to a $40,000...
Now that the holidays are behind us, we’re quickly approaching the next period that brings our finances into focus—tax season. A common question I receive from homeowners is, should I put money in my RRSP (Registered Retirement Savings Plan) or use it to pay down...
Once you have your mortgage secured and your payments set up, it may be tempting to ignore it until you get your renewal letter from your lender. But I’m going to outline some reasons why there is no better time than the present to undergo a mortgage check-up to...
