Bank of Canada rate cuts grab headlines, promising relief for stretched households, yet many Ontario homeowners face steeper mortgage payments upon renewal. This disconnect stems from locked-in low rates from the pandemic era expiring against today’s economic realities, pushing some toward mortgage renewals that strain budgets to the breaking point. Even as rates dip, high…
Thinking about buying a home? Getting approved for a mortgage in Canada requires thorough preparation, both mentally and financially. While exploring open houses and finding a realtor might feel like natural starting points, a key focus for prospective buyers should be securing mortgage approval. Qualifying for a mortgage is the most significant step in the…
For Canadian homeowners, renewing a mortgage is an important part of owning a home. While it offers the chance to negotiate better terms, the process isn’t always easy. About 3% of mortgage renewals are refused. In this blog, we’ll discuss the details of mortgage renewal, common problems that can occur, and what steps to take…