by Zohreh Fayaz | Jul 3, 2020 | Blog, Economy, Homeownership, Mortgage
When you took out your current mortgage, you were required to make a number of key decisions, such as the type of rate you wanted – fixed or variable – the amortization period, whether it was open or closed as well as what term you wanted. A mortgage term...
by Zohreh Fayaz | Jun 19, 2020 | Blog, Economy, Homeownership
Before you head out home shopping, it’s important to first determine how much you can comfortably afford to spend. Not only will getting your mortgage agent to arrange a pre-approval help you understand what lenders look for when granting you a home loan, but it will...
by Zohreh Fayaz | Jun 5, 2020 | Announcements, Blog, CMHC, Economy, Finance
The COVID-19 pandemic is having an impact on all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely affecting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the...
by Zohreh Fayaz | May 15, 2020 | Blog, Economy, Homeownership
A debt-to-income ratio (DTI) is a comparison of your monthly debt payments versus your monthly income. Lenders use this formula to determine how well you manage your monthly debt and your likeliness of repaying a loan. Debt obligations refer to such things as credit...
by Zohreh Fayaz | May 1, 2020 | Blog, Economy
The world as we know it has drastically changed. Most of us are staying home – not by choice, but through necessity. The financial and emotional strain associated with COVID-19 is very real – coping with the unnerving situation, trying to stay positive and finding...
by Zohreh Fayaz | Apr 17, 2020 | Blog, Finance
As part of the ongoing effort to assist Canadians facing negative financial effects from COVID-19, the federal government has granted an extension for filing your taxes. The due date for personal tax filing has been extended from April 1st to June 1st, 2020,...
by Zohreh Fayaz | Apr 3, 2020 | Blog, Economy, Finance, Mortgage
It’s a harsh reality that COVID-19 has left many people facing significant financial hardship. In an effort to alleviate some of this burden, the government is working at all levels to provide relief measures to assist those who are most vulnerable. Many...
by Zohreh Fayaz | Mar 20, 2020 | Blog, Economy, Finance, Homeownership, Mortgage
Concern surrounding coronavirus – COVID-19 – has led to a crash in oil prices and economic uncertainty surrounding capital markets, which has resulted in most Canadian banks significantly reducing both fixed- and variable-rate mortgage rates. Around the world...
by Zohreh Fayaz | Mar 6, 2020 | Blog, Economy, Finance, Homeownership, Mortgage
Mortgages can be complicated. That’s why it’s extremely important to seek expert advice you know you can count on. Buying a home is a significant life stage and it’s easy to get caught up in the excitement – you visualize your family growing up in the house,...
by Zohreh Fayaz | Feb 21, 2020 | Blog, Economy, Finance, Homeownership, Mortgage
If you’re in the market to buy a home, you know the process isn’t always easy. In recent years, mortgage insurance and qualification changes – implemented by the federal government – have made it increasingly difficult to buy a home for many Canadians, particularly...
