Mindblown: a blog about philosophy.
-
Bank of Canada delivers third straight interest rate cut, bringing policy rate down to 4.25 per cent
The Bank of Canada has cut its benchmark interest rate for the third consecutive time, reducing it by 25 basis points to 4.25%. Analysts anticipate further cuts, with a 93% chance of another reduction in October. Governor Tiff Macklem noted the need to balance inflation risks, as the economy shows signs of weakness. Despite the…
-
Buying a Home in Retirement? Look for These Must-Haves! | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Single-Level Layout: Avoid stairs for better mobility. Accessible Kitchen: Features lower countertops and reachable storage.
-
BoC’s Policy Rate Could Dip to 3.75% by Late 2024 | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
By end of 2024, the policy interest rate is forecasted to be 3.75%, down from 5%. Further 0.25% cuts expected on September 4, October 23, and December 11, 2024.
-
Condo Renovation Do’s and Don’ts | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Develop a detailed plan, including budget and design goals, before starting your condo renovation. Allocate a budget that accounts for unexpected costs and allows flexibility throughout the renovation.
-
Bank of Canada to be more aggressive with rate cuts, economists say
The Bank of Canada is expected to adopt a more aggressive stance on interest rate cuts as inflation eases, with forecasts suggesting a reduction from 4.5% to 3% by July 2024. Economists predict the key overnight rate will drop to 4.25% at the September 4 meeting, potentially settling around 2.75% by 2026. This shift aims…
-
Tips for Successful Rental Investing | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Screen tenants thoroughly to avoid costly issues; skipping checks can lead to significant financial losses. Budget 1%-2% of property value annually for maintenance to prevent minor issues from escalating.
-
Canada Mortgage Market: $2.1T Opportunity | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Canada's $2.1T mortgage market is set for growth following the Bank of Canada’s rate cut. The Bank of Canada cut its benchmark interest rate by 25 basis points.
-
Has the mortgage stress test served its purpose?
The mortgage stress test, requiring borrowers to qualify at a rate of 5.25% or their approved rate plus 2%, has been credited with preparing homeowners for higher borrowing costs during renewals. While new homebuyers face stress tests above 7.25%, existing homeowners may not be stress tested upon renewal but must consider their options carefully due…
-
Quick Sale, Big Profits: Your Home Selling Guide | Tailored mortgage solutions to secure your dream home, start your process online with Mandeep Maan at breezeful Mortgages
Set the right price to attract offers quickly and maximize your profit from the sale. Boost curb appeal with simple upgrades to create a strong first impression on potential buyers.
-
Mortgage Matters: New to Canada Program Highlights
Canada plans to welcome 1.5 million new immigrants from 2024 to 2026, increasing demand for mortgage financing. CMHC and Genworth Mortgage Loan have introduced incentive programs for newcomers, requiring a valid Social Insurance Number, employment history, and a minimum credit score of 600. Financing options include 90% for non-permanent residents and 95% for permanent residents.…
Got any book recommendations?