Mortgagerate - Blog - The Westlake Team

The Bank of Canada Slowed the Pace of Monetary Tightening

By Scott WestlakeOctober 26, 20220 comments

#BoC #interestrate #variablerate #bankofcanada #mortgagerate

The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The ...Read more...

The Rate Debate

By Scott WestlakeMay 16, 20220 comments

#ratedebate #mortgagerate #fixedvsvariable

The Rate Debate. One of the first questions that potential buyers want answered is: “What is your interest rate?” It is easy to think that this is the most important question, but there is a lot more to your mortgage contract than just the rate. And so, the rate debate ...Read more...

Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come

By Scott WestlakeApril 13, 20220 comments

#mortgagerates #mortgagerate #boc #variablerate

The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will ...Read more...

Mortgage Qualifying Rate Reduces to 4.79%

By Scott WestlakeAugust 25, 20200 comments

#qualifyingrate #mortgagerate #twt #dlc

We realized that the recent decrease in mortgage qualifying rate did not post - so here it is! In order to find out how the current rate impacts you, we must first identify if you are an insured or uninsured borrower. Do you have less than 20% down? Securing ...Read more...

HOW TODAYS INTEREST RATES NOSEDIVE IMPACTS YOU AND YOUR CURRENT OR NEXT MORTGAGE

By Scott WestlakeMarch 4, 20200 comments

#bocratecut #ratecut #mortgagerate #mortgagebroker #twt #dlc #oakvillebroker

Our Chief Economist Dr. Sherry Cooper has provided a market update on todays interest rate cut. For the full article click on the link below. In terms of how this interest rate cut impacts our current and future customers depends on many variables. ...Read more...

Renewal Rate Shock & How To Handle It!

By Scott WestlakeNovember 7, 20190 comments

#mortgagerenewal #mortgagenews #mortgagerate #oakvillemortgagebroker #twt #thewestlaketeam #dlc

Canadian Mortgage Trends posted an article this last week discussing mortgage renewals and the diminishing rate shock at renewal. Basically forecasting that the spread from a current fixed mortgage rate to a renewal rate may only be 10bps compared to the last few years in which ...Read more...

Qualifying Mortgage Rate Falls For First Time Since B-20 Into

By Scott WestlakeJuly 21, 20190 comments

#qualifyingrate #bankofcanada #mortgagerate #oakvillemortgagebroker #oakvillemortgagebrokerage #bestmortgagebroekr #gtamortgage #twt #thewestlaketeam

QUALIFYING MORTGAGE RATE FALLS FOR FIRST TIME SINCE B-20 INTRO The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners ...Read more...

How To Get The Best Mortgage Rate

By Scott WestlakeFebruary 6, 20190 comments

#bestmortgagerate #mortgagerate #bestmortgagerateoakville #bestmortgagerategta #bestmortgageratetoronto #twt #thewestlaketeam #scottwestlake #bestmortgage #lowestmortgagerate #lowmortgagerateoakville

Its not a surprise searching for the Best Mortgage Rate is always going to be a popular topic. Its a top search term in google, there are rate sites specifically positioned to promote the lowest rates and to be honest, who doesn't want the best interest rate?! Even though ...Read more...

Mortgage Broker Oakville

By Scott WestlakeJanuary 14, 20190 comments

#mortgagebrokeroakville #mortgageoakville #mortgagebrokeroakvilleontario #thewestlaketeam #scottwestlake #mortgagecalculator #mortgagerate #mortgageteam #realestateoakville #luxuryrealestate

If you are looking for a mortgage in Oakville, we would love to help! We have a terrific pulse on the market as well as any unique qualities that may arise in lending, for example, heritage properties. We work with Banks, Local Credit Unions, Trust Companies, Commercial ...Read more...

Employment Report Ended 2022 With A Boom

Little Comfort for the Bank of Canada in Today's Jobs Report