Tridac Mortgage Blog
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Founded in 1977, we are advising Canadian homeowners about the ever-changing mortgage landscape. Our team has combined experience spanning over 80 years. That gives us tremendous insight and perspective to confidently guide our clients through their mortgage financing options. We are connected to the wider Canadian mortgage market with relationships and respect that go deep.
Tridac Mortgage Blog
1M ago
This morning, we got another encouraging mile marker on our journey towards lower interest rates. Stats Canada just released the August 2024 inflation figures, and guess what? Headline inflation came in at a spot-on 2%. That’s the magic number the Bank of Canada has been striving for, and it’s finally here! Now, you might ..read more
Tridac Mortgage Blog
2M ago
The BOC announces a third consecutive 0.25% rate cut. The overnight lending rate fell to 4.25% (Lowest since December 2022) The retail prime rate (what you and I pay) will drop to 6.45%. The 25bps rate drop will lower your monthly variable rate payment by approximately $15/mth per $100,000 of principal balance. This ..read more
Tridac Mortgage Blog
5M ago
I’m Chris Molder, a second-generation mortgage broker based in Toronto, also known as the Son of a Broker (SOB). With over 40 years of combined experience in the mortgage industry, I’ve seen firsthand how crucial it is to navigate the mortgage landscape carefully. In today’s post, I’ll share three red flags to watch out ..read more
Tridac Mortgage Blog
6M ago
With the Bank of Canada expected to start cutting interest rates in the later half of 2024 is it time to revisit variable rate mortgages? TD Bank introduces a deeply discounted 5 year variable of Prime minus 1.01% (6.19%) Arguments for and against a variable rate mortgage right now Unusual Trend in 2021 ..read more
Tridac Mortgage Blog
6M ago
Are you a first-time homebuyer feeling overwhelmed by the daunting task of saving for a 20% down payment? In this video, we why explore why grinding to save 20% for your down payment may actually end up costing you more and reveal why an insured mortgage in Toronto might be the key to achieving ..read more
Tridac Mortgage Blog
6M ago
In the ever-evolving landscape of real estate, prospective homebuyers are often met with a myriad of factors to consider before making one of the most significant financial decisions of their lives. Among these considerations are mortgage rules, which play a crucial role in shaping the accessibility and affordability of homeownership. As we look ahead ..read more
Tridac Mortgage Blog
7M ago
Today, the Bank of Canada maintained its overnight lending rate, as anticipated. Many have speculated about a potential rate cut in June, but is it truly a foregone conclusion? In the realm of mortgages, few events generate as much speculation and anticipation as central bank meetings. Every decision made by institutions like the Bank ..read more
Tridac Mortgage Blog
7M ago
Buying a home is an exhilarating journey, but navigating the complexities of mortgages can often feel like getting lost in a maze. With numerous options available and conflicting advice from various sources, it’s easy to feel overwhelmed and uncertain about the best path forward. That’s where a seasoned mortgage broker steps in, offering clarity ..read more
Tridac Mortgage Blog
8M ago
One of the more surprising debt problems that I’ve had to solve for a client is stopping the sale of their home due to an unpaid credit card balance. Yes you heard that right. If ignored for long enough an unpaid credit card can lead to judgment from the courts, the registration of a ..read more
Tridac Mortgage Blog
8M ago
Join me as I discuss the inflation rate for February, which came in at 2.8%, lower than the previous month and below the expected 3.1%. This indicates a positive trend influenced by the high interest rate policy of the Bank of Canada. Food prices contributed to the decrease in inflation, while gasoline prices and ..read more