Ariana Leroux - Your Mortgage Insider

  Global Tariff Uncertainty Sidelined Buyers ...

  Should You Choose a Variable Rate in 2025? With prime rates trending downward, many home buyers and homeowners are wondering: Is now the time to choose a variable rate over a fixed rate? Let’s break it down and weigh the potential savings versus the risks to help you make the best decision for your mortgage needs.   Variable vs. Fixed: What’s the Right Move? Over the past few years, we’ve seen some of the most rapid rate increases in over two decades. But now, with the Bank of Canada shifting policy and the potential impact of a trade war, rates could be heading even lower. That leaves mortgage clients considering two key mindsets: FOMO (Fear of Missing Out): Could a variable rate save you money as rates decline over the next few years? JOMO (Joy of Missing Out): Is locking into a great fixed rate now the best way to ensure stability and peace of mind? Let’s explore how a variable rate could impact your mortgage. " Much of what’s happening stems from economic uncertainty. ...

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  Trump Did It--Trade War Starts Today ...

  Mortgage Renewal Canada Carpe Diem—seize the moment to get a better rate and save some cash. You don’t have to stick with your bank’s offer. Our friendly, expert mortgage brokers can check around for a better deal, and maybe even a better mortgage fit. Once you have a mortgage, you normally settle into a pattern of payment. Most Canadians deal with the mortgage renewal process in much the same way. In fact, 85% of Canadians auto renew with their lender just because it’s simple. This means 85% of Canadians might be paying too much. Don’t just settle for what the bank is willing to offer, know your options. If you want to ensure you get the best rate, consider these tips: Do your research: When you’re looking for a renewal rate, it’s best to do broad research on the current rates, and then narrow your search to financial lenders you feel comfortable doing business with. You can opt t...

  Canada Finished 2024 on a Stronger Note, But Tariffs Remain a Concern This morning, Statistics Canada released the GDP data for the final quarter of last year, showing a stronger-than-expected increase in household final consumption spending, exports, and business investment. However, drawdowns of business inventories and higher imports tempered the overall growth. In Q4, the Canadian economy accelerated, with real GDP growth reaching a solid 2.6% annualized, which was well above consensus and the Bank of Canada's latest forecast. The growth was broad-based, led by a 5.6% increase in consumer spending. Consumer spending climbed 3.6% annually for three of the four quarters in 2024, supported by rate cuts in the second half of the year. Year-over-year, consumer outlays rose by 3.6%, marking the best pace since 2018 (excluding the pandemic). Although the tax holiday had a positive impact, it took effect very late in the quarter, suggesting that momentum was already str...

  No One Benefits From Tariffs Despite having negotiated the current trade agreement among the U.S., Mexico, and Canada during his first administration, Donald Trump broke the terms of that treaty on Saturday. He triggered a global stock market selloff after fulfilling his threat to impose tariffs on Canada, Mexico, and China. These levies are set to take effect Tuesday unless a last-minute deal is reached during Trump's phone calls with the leaders of Canada and Mexico today. The European Union is next on Trump's list for potential tariffs, and the EU has promised to "respond firmly" if this occurs. Trump has imposed tariffs of 25% on goods coming from Mexico and Canada, 10% on Canadian energy, and 10% on goods from China. He justified these actions by claiming they would force Mexico and Canada to address issues related to undocumented migration and drug trafficking. However, while precursor chemicals for fentanyl come from China and undocumented migra...

    10 Smart Spring-Cleaning Tips to Revitalize Your Home     As the days grow longer and the sun shines brighter, it's the perfect time to refresh your home with a thorough Spring clean! A clean, organized space can help you feel more energized and ready to embrace the season ahead.   Here are some tips to make your Spring cleaning both efficient and enjoyable:   Create a Playlist: Make cleaning fun by curating a playlist of your favorite upbeat songs. Music not only makes the time fly but can also turn your cleaning routine into an enjoyable activity. Dance while you dust and sing while you sweep—your home will thank you!   Clean One Room at a Time: A clean home doesn’t happen overnight, so avoid feeling overwhelmed by tackling one room at a time. Start small, such as with bathrooms or closets, and work your way up to lar...

    Understanding Second Mortgages: Are They Right for You?   One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans - such as a second mortgage. A second mortgage refers to an additional or secondary loan taken out on a property for which you already have a mortgage. Some advantages include the ability to access a large loan sum, better interest rates than a credit card and the ability to use the funds how you see fit. However, keep in mind interest rates are typically higher on a second mortgage versus refinancing and can add additional cash flow tension to your monthly bills. Talk to a mortgage professional today to determine if this is the best option for you!   What is a second mortgage? First th...