Category: Uncategorized
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12 Essential Tips for First-Time Home Buyers
Buying your first home in Canada can be both exciting and overwhelming. Key tips for first-time buyers include saving strategically for a down payment, understanding what you can afford to borrow, and improving your credit score. It's essential to calculate your debt service ratios and prepare for the mortgage stress test. Comparing mortgage options and…
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Real Estate Talk: New mortgage rules
Minister of Finance Chrystia Freeland announced new mortgage rules effective August 1, 2024, aimed at improving property acquisition for buyers. Key changes include raising the cap on insured mortgages to $1.5 million, extending amortization periods to 30 years, and allowing tax-free savings for down payments. These adjustments are expected to enhance bank competitiveness, increase demand,…
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Tips for Turning a Fixer-Upper Into Dream Home | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Evaluate the fixer-upper's potential by considering the location and identifying any hidden structural issues through inspection.Ensure the existing layout and foundation align with your vision, focusing on homes that need mainly cosmetic changes.
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BoC Predictions of Further Rate Cuts to 2.5% in 2025 | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Reduced benchmark rate thrice to 4.25%, maintaining cautious levels not yet stimulating the economy significantly.Predictions of further rate cuts to 2.5% next year, driven by the need to enhance economic activity as inflation concerns diminish.
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Home Inspection Checklist Every Buyer Needs! | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early
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Rate cut showdown: 25 or 50 bps? Economists split on Bank of Canada’s next move – Mortgage Rates & Mortgage Broker News in Canada
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Real Estate Investing: Essential Tips for Newbies | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Conduct detailed inspections to uncover hidden issues and avoid costly repairs later. Select locations with strong amenities and growth potential for successful Real Estate investments.
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BoC to Pause After Three Consecutive Rate Cuts? | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
BoC is likely to cut the overnight rate by 25 bps to 4.25% on September 4, 2024. Core CPI inflation dropped to 2.7% YoY in July, the lowest since April 2021.
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What to Consider When Buying a Second Home | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Buying a second home today is more challenging due to rising property values and higher interest rates. Decide whether the second home will be for personal use or rented, impacting financial returns significantly.
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New mortgage rules will significantly lower down payments on properties costing $1M or more
Under new federal rules effective in December, the down payment for a $1-million home will decrease to $75,000 from $200,000. The changes aim to ease entry into the housing market, especially in urban areas with high prices. Buyers of homes under $1-million can make a down payment of less than 20% but must obtain mortgage…