If you're thinking about taking a variable interest rate, you're going to want to read this blog post. With the prime rate dropping, variable interest rates are coming back into the fold, and a lot of homeowners and first-time buyers are beginning to inquire about taking on a variable interest rate instead of the fixed. Now there is some risk involved in taking on a variable, but there's also some important features that we need to know about if we're going to consider a variable interest rate. So let's dive in.     To begin, what a lot of Canadians don't know is…

Is your mortgage coming up for renewal soon? If so, this is blog for you.   Earlier in the year, Canada's banking regulator, OSFI, made an announcement that they were going to remove the stress test qualifications for all insured mortgages coming up for renewal.   The purpose behind this was to help increase competition for homeowners so that they are not locked into their existing lender and can shop around with their mortgage broker to find a better interest rate.   This is great news for anybody who is looking to shop around and get a better interest rate, but only for those…