Our Blog
Read our latest articles and case studies to learn how we help our clients save on investments, mortgages, and taxes.
Debt Consolidation
How David saved almost $12,000 by consolidating his credit card debt. Today many clients are using second mortgages to consolidate debt, payout balances owning to CRA, pay for home renovations, and access home equity for many other purposes. Many clients benefit from...
Stop Waiting for Your Renewal Offer
In today’s volatile interest rate environment, I can’t overstate the importance of taking advantage of a full 120 day preapproval period. At Direction Mortgage, we call all our existing clients at least 4 months ahead of renewal since we know that this will give us...
Reduce Your Monthly Payments
In 2023, Canadian interest rates are higher than they have been in 15 years and expected to decrease in 2024 and beyond For many homeowners, payments on variable rate mortgages, and lines of credit have been increasing as rates increase and this can certainly make it...
What To Expect From Canadian Interest Rates In 2023
Happy New Year. In 2022 we had the Bank of Canada raise their overnight rate by 4% to 4.25% to reduce inflation. As a result, the economy is in much different position than when we entered 2022. Starting with the forecast of the major Canadian banks, we can see...
Debt Consolidation
One situation that is very easy to solve as mortgage broker, but much harder through a bank, is a debt consolidation. Life is expensive and quickly getting more expensive. Consumers have taken on more consumer debt and continue to do so because of the higher prices...
Policy Mistakes
Last year, the Bank of Canada and central banks globally were committed to the idea that inflation was transitory and once supply chain issues were resolved prices would return to normal. In Canada this was especially strange given the Bank of Canada only mandate was...
First Time Home Buyers Plan
Home ownership is a great way to build financial security. After 25 years, you could own a house that is paid off, and has likely increased in value significantly, or you could have paid a lot of money in rent and have nothing to show for it. For First Time Home...
Retirement Mortgages
With the increase in home prices Canadians have experienced over the last decades, home equity has become an increasingly important source of capital and income for many Canadians in retirement. Since home equity is available on a tax-free basis (unlike pensions or...
The Cash Dam
The Cash Dam is a simple but powerful tax strategy that allows the owner of a rental property (or small business) to convert their non-deductible mortgage on their home to a tax-deductible credit line. I use this technique to help of our real estate investor clients...