Fortune Funding
401 Magnetic Drive Unit 32 M3J 3H9 Toronto, ON, Canada

Will prices go up or down? How about rates? Here are some predictions... but nobody can say for certain what the future holds. Stay focused on your goals and get in touch for expert mortgage advice tailored to your situation.

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.

The Bank of Canada has announced it is maintaining the benchmark rate, noting that Canada’s economic recovery will continue to require extraordinary monetary policy support. The Bank says it will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the two per cent inflation target is achieved, which the Bank doesn’t expect to happen until sometime in 2023. The next rate-setting day is January 20th, 2021. The beginning of the new year will be a great time to get in touch for a review of your mortgage strategy. It's important to get advice and a personal 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.

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The Financial Consumer Agency of Canada has a comprehensive website with tips and tools to help you better understand your finances with a focus on our challenging times. The site will help you think more about your financial well-being - https://bit.ly/3eRmGPe

With mortgage deferrals ending, there are options for those in need. I'm here to help!

As expected, the Bank of Canada announced today that it is keeping the overnight rate steady at 0.25%. It is expected the Bank will keep this target unchanged until well into 2023 to aid Canada's economic recovery. With this stable, low interest environment it’s never been a better time for qualifying homeowners to refinance to consolidate debt to improve cash flow, save interest costs and protect their credit scores. Get in touch any time for advice and a personal assessment of your situation if you need a new mortgage or want to change your current mortgage strategy.

Early advice can save time, money, and stress! The process of qualifying for a mortgage should begin before you buy a home. Let's start with a conversation for advice on downpayment, determining what you can afford, understanding all of the costs involved in buying a home, budgeting, improving your credit, mortgage features beyond rate like prepayment options, refinancing penalties, restrictions and more. Get off on the right foot on your homebuying journey!

Attention renters! Your rent payments can now build your credit score. It makes sense that those who pay their rent on time all the time have that counted towards their credit score. This will help those who are planning to buy a home at some point. It may better help them qualify for a mortgage and have access to the best possible rates. Read more here https://bit.ly/2GXW4yW

Important information if you've deferred mortgage payments.

With the major Banks lowering their posted 5-year fixed rates, the qualifying rate will drop to 4.79%, which makes it slightly easier to qualify for a mortgage! The qualifying rate is used in stress tests for both insured and uninsured mortgages, and a lower rate is good news for anyone who needs a new mortgage: homebuyers and those looking to refinance or renew their mortgage at a different lender for a better deal. Get in touch to see how much you qualify for!

A little bit of optimism... lower rates over a long period of time could be good news for many.

Meet the Pouragha Family. They are the meaning behind the happy in @happyazie #love #drivemecrazy #wouldntchangeanything

The Bank of Canada has just announced that it is maintaining the overnight lending rate. "In a statement announcing the decision, the bank says the rate will have to stay low to provide extraordinary monetary policy support to help recuperate from the economic impact of COVID-19."

Make your mortgage work for you. Get in touch any time for a free mortgage checkup! I’d be delighted to advise you on how to get the most from your mortgage. - Transfer consumer debt to a lower interest rate. - Pay off your mortgage early and save thousands. ... - Get out of a high-rate mortgage. - Access the lowest-cost funds for renovations. - Make sure you are getting the best possible deal at renewal.

If you've started working from home, keep a file for all your expenses and reimbursements from your employer so you can take advantage of any eligible claims when you file your 2020 income tax return

Six pieces of advice to help guide first-time home buyers through a changing landscape.

It's hard to believe Canada Day is just a few days away! Here's how to celebrate safely with your social bubble.

Refinancing your mortgage could make a huge difference if you’re struggling to pay your bills. Depending on where you are in your current mortgage term and what new lower rate you could qualify for, it might be a smart financial move. I can help you run the numbers. And no matter what you decide to do, it always pays to get expert mortgage advice.

Do you have a recreational property that you're considering renting out to provide some additional income? If so, you might find this information useful.

Good news... the other two Canadian mortgage insurers are not changing their guidelines to match CMHC's announcement that would result in a reduction in buying power of approx. 9 to 11%.

Mortgage qualifying for insured mortgages will get tougher starting July 1. If you are thinking of homeownership you should have your situation reviewed as soon as possible to determine how this might affect you. Get in touch - I'm always happy to help.

Do you have a mortgage renewal coming up? Here are a few important things to consider. And don't hesitate to get in touch - I can help you make the best decision for your current situation.

Some good news: effective May 25, it’ll be slightly easier to qualify for a mortgage. The qualifying rate that is used in stress tests for both insured and uninsured mortgages has gone down to under 5% for the first time since January 2018. A lower rate means it's easier for borrowers to qualify. Get in touch to see how much you qualify for.

Students in need of financial help over the summer can now apply for the CESB. Here are all the details.

Just a reminder that you can start applying for the 3rd installment of the CERB, if needed. You need to apply for each 4-week period, up to a maximum of 16 weeks. (Not necessary if you are receiving it through EI.)

Try to focus on the positive - and take this extra time to fine-tune your home buying plan

Please stay wary of online scams during these unsettling times. There has been a wave of fraud and cyber scams. Visit the Canadian Anti Fraud Centre at https://www.antifraudcentre-centreantifraude.ca/index-eng.h for up-to-date information on how to protect yourself.

Details on financial assistance programs for students and recent grads during the "double whammy" of COVID-19 and the slowed economy.

No surprise - the Bank of Canada is holding its target rate at 0.25%. Please feel free to reach out at any time: by phone, email, or we can arrange a video conference if you have any questions or want to explore options available to you. Be safe, and stay well.

To receive the CERB, you must apply for each 4-week period, up to a maximum of 16 weeks. The second payment is now available for the period April 12 to May 9. Within the initial 4-week period you can have some hours of work as long as you can show 14 consecutive days of no employment income. For the subsequent period, you must have no employment income. Apply through the Canada Revenue Agency.