If your mortgage term is coming to an end (and you’re one of millions of Canadians in that boat), you’re probably laser-focused on locking in a great rate. But while most folks automatically think about renewing, there’s another option that could seriously shift your financial game: refinancing. Let’s break it down in a way that actually makes sense—and helps you decide which move works best for you.
Author Archives: Sean Cooper
You Missed the Best Time to Buy—Now What?
Let’s be honest—2020 was a dream for homebuyers. Prices were lower, and mortgage rates hovered around 2.84%. But if you didn’t take the plunge, you’re not alone. Plenty of people held off, waiting for that so-called “perfect” moment.
Fast forward to today: prices have climbed, interest rates have bounced around, and some buyers are still on the sidelines. But here’s the deal—there’s no such thing as a perfect time to buy. There’s only the right time for you.
The Build Wealth Canada Podcast: Are You Overpaying on Your Mortgage? New Mortgage Rules, the Impact of Tariffs, and the Fixed vs Variable Rate Mortgage Dilemma
If you own a home, are thinking about buying or selling a home, or have a mortgage renewal coming up, today’s episode is here to help you make the best financial decisions in this changing market. Ultimately my goal is to save you some money when it comes to all this, or at least make things less stressful for you.
Lower Rate with Higher Penalty or Higher Rate with Lower Penalty?
When shopping for a mortgage, most people focus on one thing—getting the lowest interest rate. Makes sense, right? But what if life throws you a curveball and you need to break your mortgage early? That “great” low rate could end up costing you big time if the penalties are steep.
Secret Mortgage Hacks: Insider Knowledge From a Mortgage Broker | Capital Compounders Show (EP #13)
In this conversation, I share my journey with host Robin Speziale of paying off my mortgage in just over three years and discusses various strategies for home buyers in Canada. I highlight the importance of understanding mortgage types, the current challenges in the real estate market, and the role of mortgage brokers compared to banks.
The Build Wealth Canada Podcast: How to Save Money on Your Mortgage + 2024 Housing & Interest Rate Update
With inflation slowing down here in Canada, we are starting to hear talks about the Bank of Canada no longer planning to increase our interest rates, or maybe even lowering them.
Let’s Dive into Leverage: Doing More with Less, the Smart Way!
If you’re a homeowner, guess what? You’re already riding the wave of leveraging someone else’s money, and I bet it’s treating you pretty darn well. So, why not keep that gravy train rolling? Maybe it’s the term “leverage” itself that freaks people out. Spoiler alert: we’re all dabbling in leverage wizardry every single day.
Banker vs. Broker: What’s the Difference and Which One is Best for You?
If you’re looking for a mortgage, you might be wondering whether you should go to a bank or a broker. Both have their pros and cons, but there are some key differences that you should know before you make a decision.
The Build Wealth Canada Podcast: Paying Less in Interest, Getting the Right Mortgage (New or Renewal), Handling the Higher Interest Rates in Canada
With the multiple interest rate hikes that we’ve been experiencing here in Canada, many Canadians have seen their monthly cashflow take a hit, whether it’s because you have a variable rate mortgage, a line of credit, or other forms of debt.
So what are your options if you’re paying more than you’d like on your interest payments, or maybe you have that mortgage coming up for renewal and you’re going to have to make that multi-thousand dollar decision on how you’re going to proceed?
The Build Wealth Canada Podcast: Rising Interest Rates, New Mortgage Rules, and Variable vs Fixed Mortgages in Canada for 2023
With the significant increase in interest rates over the past year, and with home buying and selling season right around the corner, I thought it would be great to go over the implications of this higher interest rate environment that we’re in.