Let’s be real — every Canadian wants the lowest possible mortgage rate. But how do you actually get it? It’s more than just calling your bank. 1️⃣ Shop Around:Don’t settle for your primary bank’s first offer. Mortgage brokers can often find better deals through multiple lenders. According to Ratehub.ca, Canadians who use brokers save an
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You found your dream home, the numbers seem right, but — wait — you didn’t pass the mortgage stress test? Yep, it’s a thing, and it’s a game-changer in Canada’s real estate scene. What is the Stress Test?Introduced in 2018, the federal stress test ensures borrowers can handle potential interest rate hikes. You’ll need to
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When diving into homeownership, understanding your financing options is crucial. In Canada, mortgages aren’t one-size-fits-all. Each comes with its own benefits and drawbacks, so let’s break it down. 🔒 Fixed-Rate MortgagesThe go-to choice for many Canadians, fixed-rate mortgages offer stability. Your interest rate stays the same throughout your term — no surprises. This is perfect
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