August 2024 Inflation Update: a Milestone Towards Lower Rates
Tridac Mortgage Blog
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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
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Bank of Canada Delivers 25bps Rate Cut September 2024
Tridac Mortgage Blog
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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
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3 Mortgage Red Flags to Avoid when Mortgage Shopping
Tridac Mortgage Blog
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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
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Time to Rethink a Variable Rate Mortgage?
Tridac Mortgage Blog
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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
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Why Waiting to Save for a 20% Down Payment Could Cost You More
Tridac Mortgage Blog
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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
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Osfi Mortgage Rule Changes 2025: What Homebuyers Need to Know
Tridac Mortgage Blog
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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
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Rate Watch April 2024
Tridac Mortgage Blog
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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
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The Broker Advantage: Why Choose a Broker Vs Your Banker
Tridac Mortgage Blog
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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
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Don’t Let Credit Card Debt Cost You Your Home
Tridac Mortgage Blog
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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
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Inflation Watch March 2024: Inflation Lower Than Expected
Tridac Mortgage Blog
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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
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