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BoC Qualifying Rate...GDS/TDS...LTV - Terms Explained

BoC Qualifying Rate...GDS/TDS...LTV - Terms Explained

July 22, 2020 | Posted by: Mike Garganis

There are many different factors that you will take into consideration when considering purchasing a property, including its location, size, and affordability. The last of these, affordability, i ... [read more]

BoC:  Expect Interest rates to remain low for a long time!

BoC: Expect Interest rates to remain low for a long time!

July 17, 2020 | Posted by: Mike Garganis

The Bank of Canada announced today that it is holding its target for the overnight rate at the 'effective lower bound' of 0.25%. Canadian mortgage holders can expect no further rate drops, nor increa ... [read more]

Mortgage Insurance 101

Mortgage Insurance 101

June 16, 2020 | Posted by: Mike Garganis

There has been a lot of talk about mortgage insurance lately.... but for those not sure what mortgage insurance is, here is a quick video from Genworth Canada that explains the basics.  Tr ... [read more]

What's more important, a low rate or a low penalty?

What's more important, a low rate or a low penalty?

June 16, 2020 | Posted by: Mike Garganis

Mortgage rates have been falling almost weekly since the beginning of April. We’ve gotten to a point where bank-offered fixed and variable rates are both under 2% for the first time in Canadia ... [read more]

Choosing the Right Mortgage

Choosing the Right Mortgage

June 4, 2020 | Posted by: Mike Garganis

How do you decide which mortgage is best for you?  Here are some questions to ask yourself: Long Term vs. Short Term Am I planning to live in this house for a long time or do I hope to ... [read more]

Which mortgage features are the most important?

Which mortgage features are the most important?

May 28, 2020 | Posted by: Mike Garganis

It’s easy to look online for a mortgage rate. But the rate is only one aspect of saving money on your mortgage over the long term. It’s essential that you also consider mortgage features ... [read more]

If you're receiving CERB, here's what you need to know about your mortgage

If you're receiving CERB, here's what you need to know about your mortgage

May 21, 2020 | Posted by: Mike Garganis

If you are receiving the Canada Emergency Response Benefit (CERB), here are some things you might need to know if you're buying a new home, renewing or refinancing your mortgage or if you make ... [read more]

STEPS TO HOME OWNERSHIP (The Mortgage Process)

STEPS TO HOME OWNERSHIP (The Mortgage Process)

May 13, 2020 | Posted by: Mike Garganis

Ready to take the plunge and become a homeowner? Then it’s time to think about getting pre-approved for a mortgage. Financial concepts can be tricky.  We get so caught up in trying to u ... [read more]

Toronto home sales sink 67% in April as pandemic freezes activity

Toronto home sales sink 67% in April as pandemic freezes activity

May 6, 2020 | Posted by: Mike Garganis

Canada's largest housing market went into a deep freeze last month as COVID-19 pushed buyers and sellers to the sidelines. There were 2,975 property sales across the Greater Toronto Area in April, re ... [read more]

Financial Outlook with Scotiabank's Chief Economist

Financial Outlook with Scotiabank's Chief Economist

May 1, 2020 | Posted by: Mike Garganis

The following are highlights from a telephone conversation with Jean-Francois Perrault, Chief Economist Scotiabank and John Webster, President and CEO Scotia Mortgage Corporation. Firs ... [read more]

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Mike Garganis
Mike Garganis
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