HFSMortgages Calgary

The gap between new construction and resale just narrowed—no GST for first-time home buyers.

GST Rebate Now Live: A Boost for First-Time Buyers Canada’s GST rebate for first-time buyers is now in effect. Learn how it lowers costs on new homes and why it could change your buying strategy.

If your mortgage renewal is coming up, you might be expecting a payment shock.

Many people are renewing mortgages that were originally around 1.75% and are now closer to 4%.

So the assumption is:

“My payment has to go up.”

But that isn’t always the case.

One thing most people overlook is amortization.

FOR EXAMPLE:

A mortgage with 20 years remaining might have a payment around $2,530/month.

Extend the amortization to 30 years, and the payment could drop to roughly $2,040/month.

That’s nearly $500 per month in relief.

But here’s the key part many homeowners don’t realize:

Extending amortization doesn’t have to be permanent.

Some people extend it simply to create breathing room for a year or two.

Then later, they increase their payments or make lump sum payments to bring the amortization back down quickly.

In other words, amortization can be a temporary tool for managing cash flow.

Check out my recent blogcast for more details.

Mortgage Renewal in Canada: How to Lower Your Payment Mortgage renewal Canada: Higher interest rates don’t always mean higher payments. Discover the overlooked factor that can reduce your mortgage payment.

Global bond markets + a surprise surge in Canadian job growth = HIGHER fixed mortgage rates

Check out my recent blog for more intel

Heads up, a hike in mortgage rates might be in play Mortgage markets in Canada took an unexpected turn this week. Global forces triggering higher bond yields which could ultimately lead to higher mortgage rates.