The financial term “bridge financing” is defined as the act of providing capital to extend the gap between the time your existing home is sold and your new property is purchased. Usually, people refer to this type of financing as a loan that can be paid off relatively quickly. However, it really comes in many… Continue reading What is Bridge Financing?
New Bank of Canada Rates are Impacting Canadians.
Following the Bank of Canada’s recent rate-tightening announcement, many Canadians with 5-year fixed mortgage rates are feeling the knock on impact. Many 5-year uninsured mortgages are now ranging between 3.39% and 3.79%. The result is that borrowers who secure a rate of 3.25% or higher are stress tested at their contracted rate and an additional… Continue reading New Bank of Canada Rates are Impacting Canadians.