Mortgage Blog

Working For You, NOT The Banks!
Mortgage Rates have Dropped and Will Fall Further

Mortgage Rates have Dropped and Will Fall Further

March 21, 2019 | Posted by: Mike Garganis

WHY ARE RATES FALLING?  In 2017, the Bank of Canada started raising the prime rate. Rates were raised five times over a 15-month period from July 2017 to October 2018. That’s a 1.25% incre ... [read more]

Canadians are overpaying by staying with their bank

Canadians are overpaying by staying with their bank

March 13, 2019 | Posted by: Mike Garganis

RBC. TD. BMO. Scotiabank. CIBC. National Bank of Canada. The Big Six.Whenever one of these major Canadian banks tweak their mortgage rates, it makes headlines. Like last month, when RBC dropped ... [read more]

How homebuyers can reduce impact of rising rates

How homebuyers can reduce impact of rising rates

February 21, 2019 | Posted by: Mike Garganis

Last April, Dan and Sue (real clients of mine, names are different to protect their identity) bought a condo for $238,000, still under construction in Barrie, Ont. They expect to move in by ... [read more]

Starter Home + Time = Rental Property

Starter Home + Time = Rental Property

February 8, 2019 | Posted by: Mike Garganis

Like most of us who get married, we start a new chapter in our lives with a bit of financial uncertainty.  Student loans, car loans, credit cards, and a wedding that some relatives you wish you n ... [read more]

In the market for a car, understand Negative Equity

In the market for a car, understand Negative Equity

February 5, 2019 | Posted by: Mike Garganis

For most, its the second largest purchase and I feel this article is important when discussing finances. Vehicles that would have been completely unaffordable two decades ago are now financially acce ... [read more]

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!

February 5, 2019 | Posted by: Mike Garganis

There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers ... [read more]

5 Tips for First-Time Homebuyers

5 Tips for First-Time Homebuyers

January 25, 2019 | Posted by: Mike Garganis

Did you know that the majority of first-time homebuyers are Millennials?  That’s right; Canadians born between 1980 and 1995 now represent a full 77 per cent of first-time homebuyers. If yo ... [read more]

More borrowers could be at banks’ mercy

More borrowers could be at banks’ mercy

January 11, 2019 | Posted by: Mike Garganis

As mortgages come due over the next few years, borrowers will be in for a rude awakening. That’s because they will be stuck with their lender, unless, of course, they can pass the stress test e ... [read more]

More Canadians are unable to fulfill their financial obligations

More Canadians are unable to fulfill their financial obligations

January 11, 2019 | Posted by: Mike Garganis

A growing number of Canadians are finding it difficult to pay off their financial accountabilities, according to a report by the Office of the Superintendent of Bankruptcy late last week. In its late ... [read more]

High Ratio Mortgage vs Conventional Mortgage, which will save you more money?

High Ratio Mortgage vs Conventional Mortgage, which will save you more money?

November 9, 2018 | Posted by: Mike Garganis

You want to avoid High Ratio Mortgage Insurance..... For the most part, yes, as would I, however I did some calculating and believe it or not, if you are putting down exactly 20% on your purchase or ... [read more]

Share This Page On:

Mike Garganis
Mike Garganis
Mortgage Agent
Top