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 […]
NO CHANGE TO THE BANK OF CANADA OVERNIGHT RATE AT .25%
The Bank of Canada announced today that it will continue to hold the overnight rate steady, noting that the recovery continues to require extraordinary monetary policy support. While Canada’s economy showed a higher-than-expected resiliency in 2021, new lockdowns and the spread of new variants have put a pause on further expected economic growth. Canada’s central […]
POSTHASTE: THE PROVINCES THAT WILL LEAD CANADA’S ECONOMIC RECOVERY — AND THE POWERHOUSE THAT COULD HOLD US BACK
Good morning! Quebec and British Columbia are set to lead Canada’s economic recovery, according to a new forecast by TD Bank. Quebec’s GDP growth is expected to accelerate 6.7 per cent in 2021, with B.C. matching that speed, and both outpacing the national GDP growth of 6.1 per cent this year. But the surge comes […]
5 THINGS THAT MAY NOT BE INCLUDED IN YOUR HOME PURCHASE
When you find the house you love and want to purchase, if there is something you want included in the purchase, tell your agent. Be prepared to pay an additional amount for anything the seller did not include in the purchase price. 1) Appliances Not all home purchases include major appliances. if you want the […]
4 STRATEGIES THAT CAN HELP YOU GET PREAPPROVED
So, you’ve decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage can be a bit of a nerve-wracking process, especially if your financial history is anything less than perfect. However, you shouldn’t let a few denials get […]
