Complete Application and Gather Documentation
Application Submitted to Lender
Appraisal Ordered
Conditional Lender Approval Received
Lender's Conditions are Satisfied
Congratulations, Your Mortgage has Closed!
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February 29, 2024
In 2023, the Canadian economy experienced significant changes in two key economic parameters: inflation and interest rates. On an annual average basis, the consumer price index, which measures inflation rates, increased by 3.9%. The CPI started its upward trajectory during the pandemic, with 2022 experiencing a 40-year high inflation increase of 6.8%. These factors will likely have […]
Read moreNovember 14, 2023
The Bank of Canada held the overnight lending rate at 5% at its October 25 meeting. Previously, the policy rate increased from 4.25% to 4.5% in January and was held at this rate until the decisions to increase the rate by 25 basis points consecutively in June and July. Meanwhile, inflation increases have ebbed and flowed recently. […]
Read moreAugust 15, 2023
The mortgage market is highly driven by movements in interest rates. Higher interest rates increase the cost of financing across all different segments of the real estate market. For many individuals and businesses, an increase in interest rates is significantly impacting affordability and investments in the market. Homeowners locked into fixed mortgage rates are temporarily […]
Read moreGreenFlow Financial is an award-winning mortgage brokerage firm based in Toronto and Ottawa.
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