Will the May Inflation Decline Thwart Another Rate Hike in July?By Scott WestlakeJune 27, 20230 comments#inflation #bankofcanada #boc #rates #mortgagerate The May inflation data, released this morning by Statistics ...Read more...
Employment Report Ended 2022 With A BoomBy Scott WestlakeJanuary 9, 20230 comments#employment #CPI #rates #mortgagerate #drsherrycooper Today's Labour Force Survey for December was much stronger ...Read more...
Little Comfort for the Bank of Canada in Today's Jobs ReportBy Scott WestlakeDecember 5, 20220 comments#BoC #interestrate #variablerate #bankofcanada #mortgagerate #jobs Today's Labour Force Survey for November will do little ...Read more...
The Bank of Canada Slowed the Pace of Monetary TighteningBy 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...
Orderly Housing Correction ContinuesBy Scott WestlakeOctober 17, 20220 comments#rates #boc #mortgagerate #inflation Orderly Housing Correction Continues ...Read more...
The Rate DebateBy 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 ComeBy 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 MORTGAGEBy 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 IntoBy 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 RateBy 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 OakvilleBy 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...