Decoding Closing Costs: Your Guide to a Stress-Free Home Purchase with TopRankinMortgages
The journey to homeownership is a landmark event filled with excitement and aspirations. Yet, to traverse this path with confidence, it’s critical to unpack the details of every facet involved, particularly closing costs. This article is crafted to clarify the concept of closing costs, providing you with a clear understanding, detailed breakdown, and expert insights, […]
Bank of Canada keeps key rate at 5%
The Bank of Canada has maintained its key interest rate at 5%, marking the fourth consecutive hold, and signaled a significant shift in its monetary policy stance, moving away from the likelihood of further rate hikes. This decision reflects the central bank’s assessment of the Canadian economy’s transition into a phase of “excess supply,” which […]
First Home Savings Accounts (FHSA): A Game Changer for Canadian First-Time Homebuyers
The journey to homeownership is an exciting milestone. However, for many first-time homebuyers in Canada, accumulating enough savings for a down payment remains a significant hurdle. Thankfully, the Canadian government has introduced a new initiative to support aspiring homeowners: the First Home Savings Account (FHSA). What is the First Home Savings Account (FHSA)? Launched in […]
Seize the Opportunity: Canada’s Housing Market Poised for an Early Rebound
Canada’s real estate landscape is on the brink of a significant shift, with early signs of recovery in sight, according to a recent analysis by a prominent Canadian real estate firm. Phil Soper, CEO of Royal LePage, challenges the prevalent view that the housing market will only recover following a reduction in the Bank of […]
Navigating the Ottawa Real Estate Market: Top 10 New Year’s Resolutions for 2024
Welcome to 2024! For those navigating the Ottawa real estate market, the new year is an ideal time to set clear goals and map out a plan for success. At TopRankinMortgages, under the expert guidance of Sean Rankin, we’re committed to helping you understand and thrive in this dynamic market. Whether you’re buying, selling, or […]
Anticipation in the Air: Fed’s Rate Hold Signals Change on the Horizon
In an economic climate brimming with anticipation, the Federal Reserve has held its key interest rate steady, a move that suggests the era of aggressive rate hikes may be waning. With the rate sustained at 5.25% to 5.50%, the highest in over two decades, the decision underscores a strategic pause in monetary policy tightening, even […]
Bank of Canada Maintains Interest Rate at 5% Amid Economic Slowdown
In a key decision on December 6, 2023, the Bank of Canada, under Governor Tiff Macklem, opted to keep the overnight interest rate steady at 5%. This move, aligning with the predictions of economists and market trends, comes in response to signs of a slowing economy and increasing unemployment rates. While the Bank acknowledges a […]
HOW RISING RATES CAN AFFECT YOUR MORTGAGE
The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level in 30 years and spurred the Bank of Canada to move toward a tighter monetary policy. On June 1, the Bank announced a second consecutive .5% increase to its policy rate (the third increase in […]
MEET THE FACE BEHIND TOPRANKINMORTGAGES
I’m Sean Rankin, the proud owner of TopRankinMortgages. I look forward to sharing my story. I hope that you will enjoy getting to know me better. For as long as I can remember, I have always wanted to help people. My introduction to the mortgage field came while studying biology at the University of Ottawa. I […]
RFA MARKET UPDATE
While the magnitude and frequency of last week’s rate changes were at times difficult to keep up with, the trend of higher rates is likely still far from finished. Spreads are still considered to be compressed and another increase to fixed rates this week is not out of the question if US economic announcements drive […]
