Mortgage Blog

Category: Mortgage (20 posts)

Mortgage Renewals in Early 2025 – Where Might Rates End Up?

May 4, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

A friendly guide for Canadian homeowners who are about to renegotiate one of the biggest contracts of their lives. Introduction - Why Everyone Is Talking About 2025 Renewals If your mortgage is co ...

April 16 - 2025 - Bank of Canada holds policy rate at 2.75%

April 16, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The major shift in direction of US trade policy a ...

Tariffs and Their Effect on Interest Rates: What Canadian Homeowners Should Know

April 5, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

You might be surprised to learn how tariffs-taxes on imported goods-can affect your mortgage or home-buying plans. Tariffs can indirectly influence interest rates, which impacts mortgage payments and ...

Pros & Cons of Paying Off Your Mortgage Before Retirement

March 21, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

If retirement is approaching, you may be considering whether it's wise to pay off your mortgage early. As with many significant financial decisions, there isn't a one-size-fits-all answer. However, ...

March 12-2025 - Bank of Canada reduces policy rate by 25 basis points to 2.75%

March 12, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The Canadian economy entered 2025 in a solid position, with infl ...

Mortgage Renewal Coming UP and rates higher than 5 yrs ago - Consider increasing your amortization?

March 7, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

If your mortgage renewal date is approaching, it's important to take action. You might notice something that's hard to ignore: interest rates are significantly higher now than five years ago. You're n ...

How will tariffs potentially affect Interest rates

February 26, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

As a mortgage broker in Canada, I often get questions about how global economic events might affect our financial landscape, particularly when it comes to interest rates and the cost of borrowing. One ...

Is Now the Right Time to Refinance Your Mortgage?

February 5, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

With interest rates in Canada decreasing, many homeowners are considering whether this may be the ideal time to refinance. Refinancing involves replacing your current mortgage with a new one, idea ...

Bank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening

January 29, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. The Bank is also announcing its plan to complete the no ...

Fixed-Rate vs. Adjustable-Rate Mortgages: Which Might Be Right for You?

January 21, 2025 | Posted by: The Cornerstone Mortgage Group Inc.

Hello there, and welcome! As a mortgage broker here in Canada, I know that diving into the world of mortgages can feel like stepping into a labyrinth of numbers and jargon. Today, let's have a fri ...

Government announces boldest mortgage reforms in decades to unlock homeownership for more Canadians

December 16, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly ...

Dec 11-2024 - Bank of Canada reduces policy rate by 50 basis points to 3.25%

December 11, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3¾% and the deposit rate at 3¼%. The Bank is continuing its policy of balance sheet no ...

Unlocking Home Ownership: What Canadian Homebuyers Need to Know About Property Value

November 4, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

The Canadian dream of home ownership is evolving. With fluctuating property values and shifting market dynamics, understanding the real estate landscape is more crucial than ever for prospective hom ...

October 23-2024: Bank of Canada reduces policy rate by 50 basis points to 3.75%

October 23, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. ...

Is a Reverse Mortgage Right for You?

October 8, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

A reverse mortgage is a great financial tool for homeowners over 55 who want to stay in their homes while accessing the value they've built up over the years. It provides additional income, eliminates ...

With Lower Interest Rates, Is Now a Good Time to Refinance My Mortgage?

September 6, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

With interest rates dropping, many homeowners ask the same question: Is now the right time to refinance my mortgage?* The simple answer? It could be! But as with most financial decisions, a few factor ...

Sept 4th, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.25%

September 4, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. ...

How Lower Interest Rates Could Benefit Canadian Homeowners: Is Now the Time to Refinance?

August 23, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

As a Canadian homeowner, you're probably hearing a lot of buzz about falling interest rates. You might be wondering, "Is this the right time to refinance my mortgage?" The short answer is, it could be ...

What are Alternative Mortgage Lenders?

August 8, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

In the dynamic world of real estate, securing a mortgage can often be daunting, especially for individuals with unique financial situations. This is where alternative mortgage lenders come into play ...

July 7, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.5%

July 24, 2024 | Posted by: The Cornerstone Mortgage Group Inc.

The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. ...

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