Innovative Blog

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 - July 14, 2021

July 14, 2021

Since the Bank of Canada announced no changes to its benchmark lending rate, there will also be no changes to mortgage rates.

How to find your T4 information

June 23, 2021

Your employer should have also sent your T4 to the Canada Revenue Agency (CRA), and you can easily access it through your online CRA account. Take a look at the video walkthrough below on how to find your T4 information through the CRA website.

Bank of Canada Announcement - June 9, 2021

June 9, 2021

The Bank of Canada announced that there will be no change to its benchmark lending rate this morning. The rate currently sits at the effective lower bound of 0.25 percent, and is expected to remain there until the second half of 2022.

New Changes to Qualifying for a Mortgage

June 1, 2021

There are new changes to the mortgage stress test that will affect homebuyers beginning June 1, 2021. Moving forward, all mortgage applicants are subject to a higher qualifying rate - up from 4.79% to 5.25%. The original stress test was implemented back in January 2018, and aimed at ensuring long term mortgage affordability for homebuyers.

Bank of Canada Announcement - April 21, 2021

April 21, 2021

As anticipated, the Bank of Canada announced no change to its overnight lending rate this morning - opting to hold the rate at 0.25 percent. The Bank’s Quantitative Easing (QE) program will, however, be adjusted to a spend of at least $3 billion per week effective April 26, 2021; a decrease from the minimum $4 billion weekly injection that was announced in October 2020.

Bank of Canada Announcement - March 10, 2021

March 10, 2021

The Bank of Canada opted to maintain its overnight lending rate at 0.25 percent today. The Bank’s Quantitative Easing (QE) program also remains in place, with a minimum spend of $4 billion per week.

January 20, 2021: Bank of Canada Announcement

January 20, 2021

As expected, the Bank of Canada maintained its key interest rate at the effective lower bound of 0.25 percent today. The ongoing pandemic is still causing severe economic impacts on a global scale. The first-wave of the COVID-19 vaccine rollout has begun, which has helped reduce uncertainty across the country.

Why does my broker need so many documents?

December 14, 2020

Collecting and submitting your mortgage documents can be an overwhelming and daunting task. That’s why we have dedicated team members to provide guidance and help you find and submit the correct documents to your lender. But why are all of these documents required?

Bank of Canada Announcement - December 9, 2020

December 9, 2020

A concise summary of the Bank of Canada announcement for December 9, 2020. See how the COVID-19 vaccination announcement is expected to impact the Canadian economy, and what you can expect for 2021.

Three Reasons to talk to your Broker before signing your Mortgage Renewal

November 10, 2020

While the convenience of signing and forgetting about it for another few years can be tempting, mortgage savvy homeowners know that taking the time to review their situation and reevaluate their options is almost always worth it.