In today’s economic landscape, inflation is a hot topic that directly affects homeowners and potential buyers. Let’s break down the current trends and what they mean for your mortgage. Current Inflation Trends As of June 2024, the Consumer Price Index (CPI) stands at 2.7%. However, when we remove mortgage interest from this equation, the figure
In our interconnected global economy, the value of the Canadian dollar plays a crucial role in shaping our mortgage landscape. Let’s explore how currency fluctuations impact mortgage rates and what it means for homeowners and potential buyers. Current State of the Canadian Dollar As of our latest data: • The Canadian dollar is currently trading
The holiday season is a time of joy, celebration, and giving. It’s also a time when expenses can quickly add up, potentially straining your finances. However, with some careful planning and creative thinking, you can enjoy a wonderful holiday season without breaking the bank. In this blog post, we’ll explore various budget-friendly tips to help
Inflation has become a prominent headline in recent times, and for good reason. In September, inflation in Canada eased slightly from 4% in August to 3.8%, as reported by Statistics Canada. While this dip might appear as a welcome change, it’s crucial to delve deeper into the broader implications of this softening rate environment and
Hello, I’m Catherine Ellis. Today, I’m here to share some motivating and eye-catching tips to help you prepare for rising interest rates. At Cultivate + Evolve Financial, we’re all about empowering you to make confident decisions for your financial future. Let’s dive into key strategies like practicing your payment, making lump-sum payments, understanding mortgage terms,
The Bank of Canada met this week to determine whether to increase the Bank of Canada Overnight Lending Rate (which dictates the Prime Rate) or maintain it’s current overnight rate at 1.25% currently. This week The Bank of Canada maintained its target for the overnight rate at 1.25%, which the prime rate is currently set
The Office of the Superintendent of Financial Institutions released its finalized B-20 Update to the mortgage industry, last week the news regarding the upcoming mortgage rule changes for conventional buyers, to put the brakes on borrowing and ensure we will be able to handle a rising rate environment. Don’t panic, there is always a solution
Most people’s first question when looking at buying a house is, “how much will we qualify for?”. Qualification, and affordability, are two very different things. Household debt rose to 2.08 Trillion in the 2nd Quarter of 2017 in Canada, with Mortgage debt contributing to 1.36 Trillion and Consumer Credit equating to 609.6 Billion (Statistics Canada).
This week I want you to try these three simple steps. Send me an email, text, or give me a call and tell me your results. I am truly interested and will be following them as well to see the results. The 3 Steps are as Follows : Learn the art of saying “No” or
We have all spent moments thinking… Why did I buy that? Should I make dinner or go out? Should I get the new iPhone? The new car? The new jacket? Our biggest internal conflict is “I don’t need it, but I WANT it.” Our wants often outweigh our needs resulting in increased consumer spending &