The Difference Between An Adjustable Rate Mortgage & Variable Rate Mortgage...By Scott WestlakeNovember 8, 20221 comments#adjustablerateratemortgaeg #variableratemortgaeg Read more...
Should Canadians Shop The Mortgage Market Or Are Lenders All The SameBy Scott WestlakeNovember 7, 20221 commentsRead more...
Why Should Canadians Use a Mortgage ExpertBy Scott WestlakeNovember 7, 20221 comments#mortgagebroker #mortageagent #choice #options Read more...
Very Strong Employment Report For OctoberBy Scott WestlakeNovember 4, 20220 comments#wage Today's Labour Force Survey for October was surprisingly strong, boosting wage inflation to an eye-popping 5.6% year-over-year pace. While good news for the economy, this is terrible ...Read more...
Monthly Mortgage Newsletter - November 2022!By Scott WestlakeNovember 1, 20220 comments#monthlymortgagenewsletter #mortgagenews Welcome to the November ...Read more...
What To Know About Porting Your MortgageBy Scott WestlakeOctober 27, 20220 comments#portablemortgage #mortgageportability When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest ...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...
Getting A Mortgage After BankruptcyBy Scott WestlakeOctober 25, 20220 comments#bankruptcy If you have had to declare bankruptcy, you may be wondering what is next. Bankruptcy is not a financial death sentence. In fact, there are a few things you can do after declaring bankruptcy to help reset your financial status and get a mortgage in the future. While there is no wait ...Read more...
Bank of Canada Will Not Be Happy With This Inflation ReportBy Scott WestlakeOctober 20, 20220 comments#inflation #BoC #mortgagerates Canada's headline inflation rate ticked down slightly last month to 6.9%, but measures of core inflation remain stubbornly high, and food prices hit a 41-year high. Lower gasoline ...Read more...
Orderly Housing Correction ContinuesBy Scott WestlakeOctober 17, 20220 comments#rates #boc #mortgagerate #inflation Orderly Housing Correction Continues ...Read more...
Our Chief Economists Take On Interest RatesBy Scott WestlakeOctober 17, 20220 comments#interestrates #rates #mortgagerates #boc #inflation Inflation appears to be book-ending my career. I started my work as an economist in the Research Division of the Federal Reserve Board in Washington, D.C., in the late 1970s. Inflation ...Read more...
Monthly Mortgage Newsletter - October 2022!By Scott WestlakeOctober 4, 20220 comments ...Read more...
The Real Deal about Mortgage Transfers and Switches.By Scott WestlakeSeptember 30, 20220 comments#mortgagerenewal #mortgagetransfer #mortgagerefinance #mortgageswitch Most people who are thinking about a transfer or switch want to take advantage of a lower interest rate or to get a new mortgage product with terms that better suits their needs. Up for Renewal? If your mortgage is approaching renewal and you are considering a transfer or switch – ...Read more...
Inflation Cooled Again in August, But Higher Rates Still ComingBy Scott WestlakeSeptember 20, 20220 comments#interestrates #mortgagerates #BoC #inflation Canada's headline inflation rate cooled again in August, even a bit more than expected. The consumer price index rose 7.0% from a year ago, down from 7.6% in July and a forty-year ...Read more...
Housing Softens Again in AugustBy Scott WestlakeSeptember 15, 20220 comments#housingupdate #economicupdate The full effects of the most recent rate hikes have not yet manifested. Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began ...Read more...
Job Market Weakens As Economy SlowsBy Scott WestlakeSeptember 12, 20220 comments#jobmarket #economicoutlook The August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The ...Read more...