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If you've owned your home for a while in Newfoundland and Labrador, there's a good chance something has been quietly happening in the background. Your mortgage balance has been coming down. Your home's value may have gone up. And somewhere along the way, you may have accumulated a significant amount of equity. Let's say your home is now worth $600,000 and you owe $300,000 on your mortgage. That's roughly $300,000 in home equity. Great. Now what? Because having equity and knowing what to do...

If you’re reading this while sitting in the lineup at Costco gas… you’re not alone 😅 And you’ve probably noticed — it’s creeping up again. Here’s why that actually matters for your mortgage: When gas prices go up, it pushes the cost of everything up — groceries, shipping, just life in general. That’s what drives inflation. Now here’s where it connects: When inflation stays higher than expected, the Bank of Canada usually holds off on cutting rates.That impacts variable rates, because they’re...

Saving for a down payment is a huge accomplishment — but before you make an offer, it’s important to factor in closing costs so there are no surprises at the finish line. A good rule of thumb is to budget 1.5–2% of your purchase price for closing costs, regardless of how much your home costs. These fees cover everything involved in legally transferring ownership and finalizing your mortgage. Here’s what that typically includes in Newfoundland: 1. Legal Fees & DisbursementsYour lawyer will...