Home Equity and Mortgage Renewal: What You Need to Know
Renewing your mortgage is an excellent time to reevaluate your financial goals and make the most of your home equity. Home equity represents the portion of your home you own outright, which can be a powerful economic tool if used wisely. At Cannect, we specialize in helping homeowners unlock the full potential of their home […]
Mortgage Broker vs. Bank: Which is Better for You?
When it comes to securing a mortgage, the choice between a mortgage broker and a bank can feel overwhelming. Each option has its advantages, but when your goal is to save money and get the best deal, the choice becomes much clearer. Let’s break down the differences to help you make an informed decision. Access […]
What You Need to Know About Bank of Canada’s Rate Cut on July 24, 2024 and Mortgages
On July 24, 2024, the Bank of Canada announced a significant interest rate cut, reducing by 25 basis points. This unexpected move has shaken the financial and mortgage markets, causing everyone to rethink their plans. This post explains why they cut the rate, the chance of another cut in September, and what it means for […]
The Rate Cut is Here: What Homeowners & Buyers Should Do Now
The recent decision by the Bank of Canada to reduce interest rates is a significant development for the real estate market. Whether you are a first-time homebuyer, a homeowner with a variable-rate mortgage, or approaching a mortgage renewal, this shift in policy will influence your financial decisions and opportunities. Here’s a comprehensive look at what […]
Cannect Mortgage Investment Corporation: #1 Reason to Invest
Is it time to Invest with the Cannect Mortgage Investment Corporation? Here is the one of the best reasons why now is the time. Get in touch with today
Simple Banking Mistakes to Watch Out For
The Payday Loan Promise Payday loans work on a tantalizing promise: we’ll loan you money until your payday comes, but we’ll charge you high interest rates for the “privilege”. Since many of them work outside the law, they can practically promise you the moon. They also prey on your situation, adding pressure, asking for personal […]
7 key factors to securing the right home equity loan
The procedure of obtaining a home equity loan has altered significantly. A few years ago, accessing the equity you had built up in your property was simple. Banks were happy to lend you money based on the value of your home. Many lenders are attempting to promote home equity loans to Canadian consumers now that […]
Unlocking the Path to Your First Home: The First Home Savings Account (FHSA)
Welcome to Cannect Home Financing, your trusted partner in achieving your dream of homeownership. We’re excited to introduce the First Home Savings Account (FHSA), a revolutionary registered plan designed exclusively for first-time home buyers. Let’s delve into the details of the FHSA, its benefits, and how you can leverage this program to make your journey […]
Are you getting BBQ’d by the Bank of Canada?
On June 7th, the Bank of Canada increased the target lending rate by 0.25%, bringing it to 4.75%. That is an increase of 4.5% over a 15 month period. If you got a variable rate mortgage in 2020 or 2021, you may find yourself struggling to budget the increases to your payment. Locking into a fixed rate will […]
The Bank of Canada is Not Done Just Yet
On June 7th, the Bank of Canada increased the target lending rate by 0.25%, raising it to 4.75%. This is the highest it has been in 22 years. If you have a variable rate mortgage, this will be a noticeable increase to your debt servicing costs. You may be tempted to reach out to your lender and […]
