Stephanie Mon-Kau - Mortgage Consultant - News

Mortgage Payment Schedules

Posted on Apr 28, 2023

Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean:
Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this is the defaul...

Thinking of buying this Spring?

Posted on Mar 21, 2023

According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.In some cases, sellers have taken their homes off the market in the hopes that prices will rise again; mea...

Make your finances work for you

Posted on Jan 24, 2023

After the whirlwind economic last year we have had, making your finances work for you is already top of mind for most, as we start 2023. Here are some ideas to make your finances work for YOU in the New Year:

Purge Expenses: One of the best goals you can have for the New Year is cutting out all those things that didn’t work the previous year. While...

Home Expenses

Posted on Nov 22, 2022

When it comes to your home, it is more than just your purchase price and mortgage cost. You also need to be able to afford the maintenance, property taxes, utilities and more.For your home expenses and overall monthly budget, the goal is that the costs to maintain your home do not exceed 35% of your total monthly income.Monthly Budget
To help you ke...

Bank of Canada Announcement

Posted on Oct 27, 2022

Once again the Bank of Canada has raised their interest rate. This time, it was a 50 basis point increase taking the over night rate to 3.75%. As a result, Canada's Lenders will be increasing their Prime Rate. Bringing inflation down is the primary goal of the Bank of Canada and increasing interest rates is their plan of action to tackle this.

Read...

Let's talk about Credit

Posted on Oct 27, 2022

It's important to have well established credit with a strong score when applying for a mortgage.
Have you heard of the 2-2-2 Rule?
2 credit cards - clean history of payment for 2 years - with a limit no less than $2,000.00
If you are looking for ways to improve your credit or you just simply didn't know how to maintain having good credit, keep the fo...

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