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Recently, a major chartered bank launched a highly competitive promotion: 3-year fixed mortgage rates at 3.69% for insured files (Purchases with less than 20% down payment) and 3.99% for conventional files (This is for purchases with more than 20% down payment and/or for refinances) . These rates were among the best in the market, attracting a surge of business for both the bank and its mortgage brokers. We had pre-approved a young couple earlier in the year. When they found

If you bought a new home construction during Covid you may be experiencing a host of issues. We cover the top 4 issues and how to help.

MEET KRISTA & JASON First-time homebuyers and newlyweds are excited to embark on their journey to homeownership. Jason has worked as a firefighter for the last ten years. He and his new wife, Krista, are looking to purchase their first home but used most of their savings for their wedding last Fall. Krista works as a Director with a financial firm, earning $135k/year. Jason earns approximately $90k/year. Together, they have around $65K in savings towards their new home, but g

CEBA deadline has been extended. The federal government is extending the full repayment deadline for the Canada Emergency Business Account (CEBA) loans by one year, from December 31, 2025 to December 31, 2026. The zero-interest repayment deadline (which qualifies loan holders for partial loan forgiveness) is being extended from December 31, 2023, to January 18, 2024. As of January 19, 2024, outstanding loans will convert to three-year term loans at 5% interest, with the fu

MORTGAGES A, B, C's... IT'S AS EASY AS 1, 2, 3 Do you know there are different types of Financial Institutions and Lenders for Mortgages, more than just the BIG BANKS? Do you know that in Canada, we have THREE distinct TIERS OF MORTGAGES that offer solutions for all of Life’s Moments? Do you know the difference between an A, B, and C lender?   If the answer is no, you are not alone! It’s a big jungle within the mortgage lending market, but don’t fear! We are here to help you

Rising Interest Rates. Interest rates keep going up and up. This means that variable-rate mortgages have increased. The steady rate increase has affected many hard-working Canadians and their ability to make their mortgage payments. (Based on the current Bank of Canada Rate increase on June 7th, 2023.) How can Canadians afford this? Well, they’re not! There are many in our community struggling to make mortgage payments. When will the interest rate increase end? We wish we kn

Is summer fun burning up your budget? Are your air conditioning bills out of control? Are your travel plans eating up your gas budget? Are you trying to Save for Down Payment while costs continually increase? Saving money is a year-round goal, so there’s no time like the present to follow a budget to keep your finances under control. While summer is a great time for vacations, it’s not the time to take a vacation from the success you've had in saving money. But DON'T WORRY; I

Mortgage fraud is at the top of our minds. What is Mortgage Fraud? And how can it happen? By Definition, “Mortgage fraud is the deliberate misrepresentation of information to obtain mortgage financing that would not have been granted if the truth had been known.” This could include: Falsifying your identity Misstating your work position, your income or the length of time you’ve held your job Stating you’re a full-time salaried employee when you’re not Misrepresenting the amou

I am happy to introduce you to our new brand and BLOG series, “IT HAPPENS.” I am Jordon Mullen, a Mortgage Agent with MULLENandMULLEN.ca, MORTGAGE ARCHITECTS. I have been working in the Mortgage Industry for 11 years. My career started with Financial Institutions. I approved mortgages. Now I sit on the other side of the desk and work with individuals and families to achieve their financial goals by providing financial solutions right for "All their Life Moments". Life happen