by Zohreh Fayaz | Oct 21, 2022 | Blog, Homeownership, Mortgage
Rent-to-own programs enable borrowers to build equity in a specific property as tenants with an option to buy the property within an established timeframe – typically between one and five years. As with any program, it’s important to understand how it works before...
by Zohreh Fayaz | Oct 7, 2022 | Blog, Homeownership, Mortgage
Whether you’re in the market for a mortgage on your new home or you’re looking to renew or refinance an existing mortgage, it’s important to work with a mortgage agent who has access to multiple lender types – including, banks, credit unions and monolines, as well as...
by Zohreh Fayaz | Sep 16, 2022 | Blog, Homeownership, Mortgage
The Bank of Canada (BoC) has raised its benchmark interest rate five consecutive times this year – most recently increasing 0.75% on September 7th. And while these increases are coming after years of historically low rates, some borrowers may be feeling the increases...
by Zohreh Fayaz | Sep 2, 2022 | Blog, Economy
Everyone seems to be talking about inflation more than ever these days. And while Inflation in Canada has come down a little recently, it remains far too high. After rising rapidly to reach 8.1% in June, inflation as measured by the consumer price index (CPI) was 7.6%...
by Zohreh Fayaz | Aug 19, 2022 | Blog, Homeownership
Toronto recently joined the roster of Canadian cities allowing for garden suites – secondary freestanding backyard homes that tie into a main residence’s services and utilities – which has many people wondering how this could help make housing more affordable. Garden...
by Zohreh Fayaz | Aug 5, 2022 | Blog, Economy, Finance
As inflation soars to a 40-year high, and with interest rates expected to continue rising, many Canadians are feeling financially stretched. For those with a mortgage up for renewal, the prospect of dealing with higher mortgage payments is very real. That said, there...
by Zohreh Fayaz | Jul 15, 2022 | Blog, Homeownership, Mortgage
In an effort to stabilize the economy and curtail rising inflation and hot housing markets, the Bank of Canada (BoC) has been steadily increasing interest rates – most recently on July 13th when the overnight rate rose a full percent, which was the fourth consecutive...
by Zohreh Fayaz | Jul 1, 2022 | Blog, Homeownership
Ottawa has launched the first phase of its Canada Greener Home Loan program, which offers interest-free loans to Canadians planning upgrades that will have a significant impact in reducing their home’s environmental footprint. The program provides interest-free loans...
by Zohreh Fayaz | Jun 17, 2022 | Blog, Guest Post, Mortgage
As the number of Canadians living alone continues to rise and the average size of households shrinks, the idea of the “nuclear family” as the typical Canadian household isn’t as accurate as it has been in past decades. If you’re buying a home on your own and wish to...
by Zohreh Fayaz | Jun 3, 2022 | Blog, Economy, Finance, Homeownership
Over the past few years, house prices have seen staggering growth, rising significantly faster than average incomes and making the dream of homeownership increasingly difficult. Rising interest rates and relentless competition are also contributing to a sizzling...
