Paying More With Fewer Choices for Your Mortgage Renewal

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The Good News is You Can Do Something About It—But Canadian Banks are Hoping You Won’t! New actions recently taken on behalf of the Canadian government and banks across the country are set to make your mortgage renewal even more expensive than you might have anticipated. Banks have been steadily increasing their posted fixed mortgage […]

How to start your Investment Journey

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When you think about it, we have a very special relationship. You have entrusted us with your money. You looked around at all of your investing options and selected us. That will never be forgotten. Everything we do at Cannect is designed with one singular focus: to constantly reduce the amount of risk required to […]

Ottawa Proposes Sweeping Changes to Spread Mortgage Risks

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On Friday, October 21st, 2016 The Globe and Mail posted an article on the Liberals’ new plan for a deductible for mortgage insurance premiums. Tamsin McMahon, David Berman, and Tim Kiladze, The Globe and Mail – Ottawa has unveiled plans to introduce a deductible into Canada’s taxpayer-back mortgage insurance system, a move that could force the […]

New Mortgage Rules To Reinforce Soft Landing In Canadian Housing

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On Friday, October 20th, 2016 TD Economics issued a special report on the new mortgage rules and what they mean for our housing market. TD Economics Highlights • Earlier this month the Canadian government announced a new set of mortgage regulations and tax measures aimed at ensuring the health and stability of the Canadian housing […]

New Liberal Government Housing Rules: Great for the Banks, Bad For Canadians

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The keys to home ownership in Canada are now harder to reach than ever. Meanwhile, the keys to the Canadian mortgage Market have just been handed to the Big 6 Canadian banks. Yesterday Bill Morneau, Canada’s new Minister of Finance, introduced a slew of mortgage rule changes aimed at slowing down the Canadian housing market […]

Navigating the New Mortgage Rules

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Canada’s new mortgage rules are designed to make it harder for you to qualify for the mortgage you have right now and they are being introduced on January 1st, 2018. The new rules will affect at least 15% of Canadians. Whether you are looking to borrow more money against your home or simply want to […]

Here is the exact Penalties in your Mortgage

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If you have a fixed rate mortgage, you may be able to get a better interest rate or even acquire additional funding by breaking your mortgage. Unfortunately, you will have to go through your disgruntled lender and the subsequent prepayment penalty. The penalty protects lenders against losses and usually represents the profit the lender was […]