Whether you are looking for the latest Bank of Canada rate announcement, up-to-date information on the mortgage industry or fun tips on how to add curb appeal to your home, our blog is the place for you. Be sure to check back weekly for the latest industry updates and most popular mortgage topics affecting Canadian home owners!

bank of canada announcement graphic
Innovative Mortgage Solutions

Bank of Canada Announcement: October 28, 2020

October 28, 2020

The Bank of Canada reinforced the decision to keep its benchmark interest rate at 0.25 percent today. Although the Quantitative Easing (QE) program remains in place, two changes were noted in today’s press release:

What does a mortgage broker do?
Innovative Mortgage Solutions

What does a Mortgage Broker do?

October 21, 2020

Answering your most frequently asked questions: How does a mortgage broker work? How do brokers get paid? When should I use a mortgage broker? Why should I use a mortgage broker instead of my bank?

ATB
Innovative Mortgage Solutions

Do we only do ATB Mortgages?

September 18, 2020

One question we have been getting a lot of recently is “doesn’t Innovative just do ATB mortgages?” We thought a blog post would be a great opportunity to answer this question, but also to address additional misconceptions around the Innovative and ATB relationship.

bank of canada announcement graphic
Innovative Mortgage Solutions

Bank of Canada Announcement: The Reopening Phase for Canada

September 9, 2020

Once again, the Bank of Canada has opted to hold its benchmark rate at the effective lower bound of 0.25 percent. Although moving the rate lower than 0.25 percent would be considered counterproductive, the Bank expects Canadian recuperation after COVID-19 to be “heavily reliant on policy support.”

Bank of Canada Announcement
Innovative Mortgage Solutions

Bank of Canada Announcement: How COVID-19 continues to Impact the Economy

July 15, 2020

Due to the ongoing uncertainty around the unfolding of the COVID-19 pandemic, the bank opted to present a “central scenario for global and Canadian growth” in lieu of the usual economic projections outlined in the MPR.

bank of canada announcement graphic
Innovative Mortgage Solutions

Bank of Canada Announcement: The Impact of COVID-19

June 3, 2020

The Bank of Canada held its benchmark rate steady at 0.25 percent today, which is considered the effective lower bound of the key interest rate. This is the point at which reducing the rate further would be considered counterproductive.

noa
Innovative Mortgage Solutions

What’s the difference between an NOA, T4 and T1 General?

April 30, 2020

If you’re having trouble collecting the documents for your mortgage application, you’re not alone! It can be difficult to keep track of document names and where you can go to find each one, especially if you’re a first-time homebuyer who has never had to access them before.

bank of canada announcement graphic
Innovative Mortgage Solutions

Bank of Canada Announcement - April 15, 2020

April 15, 2020

In light of the evolving COVID-19 situation, measures taken by the Bank of Canada include:

COVID-19
Innovative Mortgage Solutions

COVID-19: A Complete List of Resources

March 27, 2020

UPDATED DAILY. A list of information in response to COVID-19, including the latest updates from the provincial and federal government as well as information from mortgage lenders.

COVID-19
Innovative Mortgage Solutions

COVID-19: Bank of Canada and Mortgage Updates

March 27, 2020

The Bank of Canada has implemented an additional emergency rate cut and introduced two new programs. Mortgage lenders are also offering updates to their mortgage process for homebuyers.