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 Refinancing your mortgage in Canada can be a powerful financial tool — whether you’re looking to lower your monthly payments, pay off debt, access home equity, or secure a better interest rate. But before jumping in, it's important to understand the process, costs, and potential benefits to ensure refinancing truly works in your favor. In this guide, we’ll walk you through everything you need to know about mortgage refinancing in Canada in 2025. What Is Mortgage Refinancing? Mortgage refinancing involves replacing your current mortgage with a new one, typically with new terms. This may include a different interest rate, loan amount, or amortization period. When you refinance, you’re essentially paying off your old mortgage with a new one — ideally structured in a way that benefits your financial goals. Why Do Canadians Refinance Their Mortgage? There are several common reasons to refinance a mortgage in Canada: 1. To Get a Lower Interest Rate This is the most popular rea...

In 2025, one of the smartest financial decisions you can make is to protect yourself and your family from unexpected medical crises. While traditional health insurance plays a crucial role, it doesn’t always cover the full financial impact of a serious illness. That’s where critical illness insurance steps in — a financial safety net that more Canadians are turning to in today’s uncertain world. What Is Critical Illness Insurance? Critical illness insurance is a type of coverage that pays out a lump sum if you’re diagnosed with a serious illness covered by your policy. Common illnesses include: Cancer Heart attack Stroke Organ transplant Multiple sclerosis Kidney failure This lump sum is tax-free and can be used however you need — to cover medical bills, replace lost income, travel for treatment, or even pay off debt. Why Is It So Important in 2025? The world has changed dramatically over the past few years. Here’s why critical illness insurance is more relev...