The latest from the team at Patching Mortgage

Market Comparison – January 2022 to Now
Let’s take a look at real estate affordability and how much things have changed since the beginning of this year. We have put together some

Inflation is on its way down
Well well well, Finally some good”ish” news. August Inflation rates came in lower than expected. Inflation dropped from 7.60% to 7.0% Core inflation reduced from

Your Variable Rate Mortgage 101
With all the headlines these days, I wanted to make sure you’re clear in regard to your Variable Rate Mortgage and how it works. If

Sept 7th Bank of Canada Rate Increase
Well I’m sure you’ve all seen the headlines – Governor Tiff Macklem and Bank of Canada (BoC) raised the overnight rate by 0.75% on September

Dan’s Thoughts on the Upcoming Bank of Canada Rate Update
In anticipation of the Bank of Canada’s meeting on the 7th of September, I am writing this to discuss what I believe will happen,

Bank of Canada Rate Increase
The Bank of Canada has increased the overnight rate from 1.0% to 1.50% which will adjust the Bank of Canada lending rate from 3.20% to

Top 5 things you’re going to need to know about Gift Letters
You’re looking to purchase a property and your parents have graciously offered to help you with the down payment. Here’s what you need to know

Subject Free Offers and what you should know
What is a subject free offer? A subject-free offer is a bid (on a home) provided by the buyer that is unconditional once the seller

Be prepared for Closing Costs
The terms below are costs that apply to mortgage and property purchase transactions. Note that not all costs apply in all circumstances, but are listed here for

Rate Predictions for 2022
A news article recently came out where a Scotiabank economist said that we could see the Prime rate jump 8 times by the end of 2023. This,

TD Online Setup
TD Banking Online Set-up Step 1 — Go to: https://digitalreg.td.com/ui/osr/web/en Step 2 — Choose Mortgage from the drop down menu and enter your personal information.

Scotiabank Online Setup
Scotiabank Banking Online Set-up Step 1 — Go to: https://www.scotiabank.com/ca/en/personal/mortgages/online-banking.html Choose the blue “Sign up now” Step 2 — Choose Mortgage from the drop down