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Alternative Lenders: Mortgage Solutions for Atypical Profiles in Quebec

Alternative Financing Options: A Tailored Solution for Non-Conventional Borrowers In the Montreal mortgage landscape, many borrowers face challenges when trying to obtain a loan from traditional banking institutions. Whether due to a particular professional status, complex credit history, or atypical financial situation, some clients are denied access to standard mortgage products. It’s in this context…

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Canadian households saw increased wealth in the fourth quarter of 2023.

Today, we delve into the latest economic data from Statistics Canada and its impact on Canadian households, with a particular focus on the last quarter of 2023. The end of the year brought positive news for household finances in Canada, marking a significant improvement in their financial situation. This positive development is mainly due to…

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Interest Rates in Canada: Insights into Future Increases

Wednesday afternoon, the Bank of Canada (BoC) released its Summary of Deliberations. The report reflects a more optimistic tone from the central bank of Canada, which could lead to further interest rate increases, especially if high inflationary pressures persist at undesirable levels. Continue reading to learn more about what was discussed at the latest BoC…

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Is it possible to get a mortgage after closing a consumer proposal?

Prerequisites and available options To qualify for a mortgage or any type of loan-it is imperative to have received a certificate of discharge issued by a trustee in bankruptcy. Once this document is in hand, if buyers have already filed for bankruptcy, some financial institutions may agree to finance their real estate project under certain…

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OSFI and the Impact on the Canadian Mortgage Market

The Office of the Superintendent of Financial Institutions (OSFI) has the crucial responsibility of maintaining the stability of the Canadian financial system. Among its many functions, it actively supervises the credit market, particularly the mortgage segment. Although OSFI deals mainly with institutions under federal jurisdiction, Desjardins, although a cooperative and not a bank, applies its…

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Bank of Canada remains firm despite falling inflation

Inflation in Canada: a remarkable fall Despite the significant fall in the inflation rate, which is now within the government’s target range, the Bank of Canada has shown no signs of flexibility. Statistics Canada recently revealed that inflation had fallen remarkably to 2.8% in June, down significantly from 8.1% last summer. Good news, but the…

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Mortgage Release and discharge

What is a mortgage release? A mortgage waiver is the process of cancelling or releasing a registered mortgage on a property. This enables the new owner to obtain a clear title for the property, free of mortgage charges. A mortgage is a legal agreement by which a bank or other creditor lends money at interest in exchange…

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The notion of residency in the purchase of residential real estate in Canada

Co-authored by Vincent Le Saux and Me Paul Vigneron  In 2022, federal legislators passed a law prohibiting foreigners from buying real estate in Canada, subject to certain exceptions. This law prohibiting the purchase of residential real estate by non-Canadians was assented to on June 23, 2022, to take effect on January 1, 2023. Debated and hastily drafted, the…

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TAC: Size and calculation for mortgages

When you take out a loan, the creditor will tell you the base interest rate beforehand, which is obviously crucial information. The interest rate is simply the percentage that the lender charges to extend credit to you, without taking into account any other costs associated with the process.

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Rate cuts: Quebec’s real estate market recovering?

Discover the trends and forecasts for the Quebec real estate market in 2023, with a focus on mortgage rates, challenges and opportunities for buyers. Our mortgage brokers will accompany you and offer you unbiased support to make your real estate investment a success.

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The tax credit for the wealthy: it’s over

Quebec is changing the tax credit for the purchase of shares of the Solidarity Fund QFL and Fondaction by excluding wealthier workers and extending the minimum holding period to five years. These changes are intended to make the tax benefit accessible to a greater number of people and to rebalance investment opportunities for less fortunate workers.

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Postponement of loan payments: what are the consequences?

For the past few weeks, Canadian banks have been allowing individuals to defer payments on their mortgages, personal loans, etc. While these support measures do not have a direct impact on your credit rating, they are not without consequences. Please read the following.

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Pre-term mortgage refinancing

You want to finance your projects with a mortgage refinancing but you are not yet at the end of your term? Our brokers can provide you with advice on mortgage refinancing before the end of the term.

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