How to Decide Between Refinancing and a Second Mortgage

When you need to access the equity in your home, whether it’s for renovations, consolidating debt, or unexpected expenses, you generally have two popular options: a second mortgage or refinancing your current mortgage. Both can get you the funds you need, but choosing the right one depends on your situation. What Is Mortgage Refinancing? Refinancing […]

Refinance Penalties Got You Down? Here’s How to Lower Them.

Thinking about refinancing your mortgage but worried about the penalty for breaking it early? You’re not alone. Many Canadian homeowners hesitate to refinance because they’re unsure if paying a prepayment penalty is worth the potential savings. In this blog, we’ll break down what mortgage penalties are, how they’re calculated, and how to figure out if […]

Mortgage Rates Down? What You Need to Do Now.

This March, the Bank of Canada announced its first rate cut this year, lowering its key overnight rate by 0.25% to 4.75%. For many Canadians who are navigating the housing market or managing existing mortgages, this move raises an important question: How does this affect my mortgage, and should I consider fixed or variable rates? […]