Cam Brown- Mortgage Broker
3, 1010 - 1st Ave NE T2E 9C6 Calgary, AB, Canada

Mortgage rates are very complex, which causes confusion and questions. Will fixed rates keep rising? When will the Bank of Canada start increasing the overnight rate, which can cause variable rates to rise? Why are all online posted rates for insured mortgages while few people can get that rate? Why are there rate premiums for certain situations? What rate do you actually qualify for, and why can it be so different from what your neighbour got? The best answer is to get professional advice. To navigate the complexity and better understand rates and what you qualify for, get in touch.

The Bank of Canada announced today that it is maintaining the benchmark rate, noting that our recovery is better than anticipated but that economic slack and uncertainty remain, particularly given the rise of more transmissible variants of COVID-19. The Bank has determined that the recovery continues to require extraordinary monetary policy support, and they will continue with quantitative easy until the recovery is well underway. The Bank did not comment on when they believe... the economy will have recovered enough to raise rates. With rates still extremely low, this is a great time to get in touch for a review of your mortgage strategy. It's important to get advice and a professional assessment of your situation if you want to switch your mortgage for a lower rate, need a new mortgage, are renewing, or looking to refinance for debt consolidation, renovations or other large expenditures.

Don’t leave money on the table if you bought your first home last year! You may be able to take advantage of the Home Buyers Tax Credit (HBTC) when you file yo...ur tax return. The $5,000 non-refundable HBTC provides up to $750 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years. For more information, visit http://www.cra-arc.gc.ca/hbtc/.

This is good info for anyone planning to buy their first home.

If you need help polishing your score so you can qualify for the best rates, get in touch.

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