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Posted by: Allison Kehler Tolley
With the first Bank of Canada rate drop having occurred in June, many individuals are looking at the housing market with renewed vigor and an expectation that rates will continue to come down to a more sustainable level. If you are someone who is considering entering the housing market this summer, there are a few […]
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With the anticipation of rates going down, some homeowners may be considering switching from a variable-rate mortgage to a fixed-rate mortgage to lock in their next term. Switching from a variable-rate mortgage to a fixed-rate mortgage can offer stability in your monthly payments, protecting you from potential interest rate hikes, along with some other benefits: […]
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So you’ve found your dream home, congratulations! But before you picture yourself unpacking boxes, there’s the crucial step of securing a mortgage. You might encounter terms like “pre-qualified” and “pre-approved” during this process, and while they sound similar, they hold significant differences. Understanding these distinctions can empower you to navigate the mortgage application journey smoothly. […]
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Lethbridge, Alberta’s vibrant city, beckons with its burgeoning neighborhoods and friendly charm. But before you dive into open houses, securing a mortgage pre-approval is a crucial first step. This empowers you to make strong offers and streamlines the homebuying journey. Why a Pre-Approval? Credibility Boost: A pre-approval letter showcases you as a serious contender to […]
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One of the important factors in home ownership is understanding things like your credit score. Some people don’t pay much attention to this metric until they begin the mortgage discussion! However, you will find that your credit score is one of the most important factors when it comes to qualifying for a mortgage at the […]
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Did you know? March is Fraud Awareness Month. Protecting yourself and your mortgage from fraud is crucial to safeguard your financial well-being. Understanding some of the more common mortgage fraud scams and how to protect yourself can make all the difference! The most common type of mortgage fraud involves a criminal obtaining a property, and […]
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What Affects My Credit Score? By TransUnion By now, most graduates have waved goodbye to grades, at least for the summer. But whether graduation was long ago or last week, you’re still being graded in one way you may not have realized: your creditworthiness. Credit scores may be an evaluation of your creditworthiness, one way […]
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The date of a proposed increase in the stress test rate for uninsured mortgages is looming, with the Office of the Superintendent of Financial Institutions (OSFI) set to publish recommendations on the hike on May 24. The change – which would see the threshold increase on June 01 to 5.25% or two percentage points above […]
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REAL ESTATE UPDATE “Sales continued to surge this month, pushing year-to-date sales up to 736 units. Not only is this a record start to the year but reflects sales that are over 66 per cent higher than long-term averages. Lethbridge has continued to see a steady rise in employment levels since the lows of the […]
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Amid an improved outlook for both the domestic economy and the global financial system and the Bank of Canada announced that it will hold its target for the overnight rate at the effective lower bound of 0.25%, and that it will be adjusting its weekly net purchases of Government of Canada bonds. The bank rate […]
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