The Bank of Canada Hiked Rates Again And Isn't Finished YetBy Scott WestlakeSeptember 8, 20220 comments#BoC #bankofcanada #interestrates #mortgagerates #variablerates The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further. The ...Read more...
Monthly Mortgage Newsletter September 2021By Scott WestlakeSeptember 6, 20220 comments#monthlymortgagenewsletter #mortgagenews Welcome to the September ...Read more...
Construction and Pre-Construction Mortgages.By Scott WestlakeAugust 29, 20220 comments#constructionmortgage #constructionfinancing #presale #presaleconsturction #selfbuild #specbuild #twt #scottwestlake Construction and Pre-Construction Mortgages. Building or renovating your own home is such an exciting time and allows you to create something tailored to you and your family! But when it comes to construction mortgages, there are a few different types of loans: new construction ...Read more...
Gasoline Prices Dipped, But No Time To CelebrateBy Scott WestlakeAugust 17, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC While we are all grateful that gasoline prices declined from record highs in July, today's release of the July inflation data shows that the underlying inflation momentum remains ...Read more...
Housing Slowdown Continues in JulyBy Scott WestlakeAugust 16, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in July, albeit ...Read more...
Finally, Some Good News on the Inflation FrontBy Scott WestlakeAugust 11, 20220 comments#inflation #economy #marketupdate #interestrates It was widely expected that US consumer price inflation would decelerate in July, reflecting the decline in energy prices that peaked in early June. The US CPI was unchanged last ...Read more...
The Canadian Economy Is Slowing--Job Markets Will Begin To ShiftBy Scott WestlakeAugust 7, 20220 comments#economicupdate #boc #drsherrycooper #SW #TWT #DLC The July employment report, released this morning by Statistics Canada, is a real head-scratcher. The job numbers fell for a second consecutive month, but so did the number of job ...Read more...
Monthly Mortgage Newsletter - August 2022By Scott WestlakeAugust 6, 20220 comments#monthlymortgagenewsletter #SW #DLC #TWT #2022 ...Read more...
The Westlake Team Sponsors Glen Abbey Member GuestBy Scott WestlakeJuly 25, 20220 comments#community #localbusiness #SW #TWT Golf is a great way to connect with others. This year, unlike the previous two, Glen Abbey is going back to their traditional two day member guest tournament format and The Westlake Team, Part of Dominion Lending Centres are happy to be one of the many local sponsors. This tournament ...Read more...
Canadian Inflation Surged to 8.1% in JuneBy Scott WestlakeJuly 22, 20220 comments#inflation #economy #marketupdate #interestrates Another bad inflation number was posted today. The rate of consumer inflation continued to rise, reaching 8.1% year over year (y/y) in June, following the 7.7% gain in May. The increase ...Read more...
House Price Decline Accelerated in JuneBy Scott WestlakeJuly 17, 20220 comments#houseprices #homeprices #economy #recession #interestrates #SW #TWT Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. Home ...Read more...
A Super-Sized Rate Hike, Signalling More To ComeBy Scott WestlakeJuly 15, 20220 comments#economicupdate #sherrycooper #rateupdate #boc #variablerate #SW #TWT #DLC The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative ...Read more...
Purchase Plus Improvements Mortgage.By Scott WestlakeJuly 12, 20220 comments#purchaseplusimprovement #homerenovation #renovation #upgrade When it comes to shopping for your perfect home, it can be hard to find the exact one ready to go! If you are looking into a home that requires improvements, there is a mortgage product known as Purchase Plus Improvements (PPI). This type of mortgage is available to assist buyers ...Read more...
3 Advantages of a Pre-Approval.By Scott WestlakeJuly 11, 20220 comments#preapproval #prequalification #buyingahome #purchasingrealestate While getting pre-qualified can give you a ballpark estimate on what you can afford, getting pre-approved is where the real magic happens. Mortgage pre-approval means that a lender has stated (in writing) that you do qualify for a mortgage and what amount, based on submitted ...Read more...
Welcome to the July issue of my monthly newsletter!By Scott WestlakeJuly 5, 20220 comments#monthlymortgagenewsletter #SW #DLC #TWT #2022 ...Read more...
Using a Reverse Mortgage for In-Home Health CareBy Scott WestlakeJuly 4, 20220 comments#reversemortgage Here are 2 ways to use a reverse mortgage to pay for in-home health care: 1. Set-up an Income Advantage Line of Credit – Our reverse mortgage lender will deposit a fixed amount each month into the clients bank account (ex: $2000/month). Interest is only charged on ...Read more...