5 - Blog - The Westlake Team

Holy Smokes, The Bank of Canada Means Business

By Scott WestlakeJune 8, 20230 comments

#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy

If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy ...Read more...

Weekly Business Boosting Checklist for Mortgage Brokers:

By Scott WestlakeMortgage Agent TrainingJune 6, 20230 comments

#mortgageagenttraining #mortgagebrokertraining #TWT

Weekly Business Boosting Checklist for Mortgage Brokers: Network with Professionals: Attend networking events and industry conferences to connect with real estate agents, financial advisors, accountants, investment advisors and other professionals in related fields. ...Read more...

Recently Funded Mortgage --> Unlocking Financial Success: The Power Couple's Journey to Mortgage Success

By Scott WestlakeMy PortfolioJune 6, 20230 comments

#recentlyfunded #businessforself #netincomeaftertax #businessincome #businessforselfmortgage #selemployedmortgage

Introduction: In the world of high net worth individuals and entrepreneurs, financial decisions can often be complex and challenging. Recently, we had the pleasure of working with a remarkable power couple who epitomized success in both their personal and professional lives. Their ...Read more...

Don't Be house Poor

By Scott WestlakeJune 5, 20230 comments

#budget #moneysavings

Don’t Be House Poor. Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, which might lead to cash ...Read more...

What You Should Know About Mortgage Amortization.

By Scott WestlakeMay 30, 20230 comments

#amortization #mortrgageamortization

Mortgage amortization refers to the process of paying off a mortgage loan through regular installments over a specified period. Here are some key points to know about mortgage amortization: Definition: Mortgage amortization is the gradual repayment of a loan's principal and ...Read more...

How to Pay Off Your Mortgage Faster.

By Scott WestlakeMay 23, 20230 comments

#mortgageprepayment #paymortgagefaster

When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25 to 30 year amortization schedule, there are several strategies you can consider to pay off your mortgage quicker. Here are some effective ways to accelerate your ...Read more...

Vital Spring Housing Market Bodes Well For The Economy

By Scott WestlakeMay 17, 20230 comments

#housevalue #springmarket #housingprices

The Canadian Real Estate Association says home sales in April surged 11.3% month-over-month. The Spring rebound was on the heels of smaller back-to-back gains in the prior two months. ...Read more...

Canadian Inflation Rose More Than Expected in April, But Core Inflation Slowed

By Scott WestlakeMay 17, 20230 comments

#inflation #rates #mortgagerates #economy #drsherrycooper

There's been an unexpected hiccup in the Bank of Canada's ongoing battle against inflation. Year-over-year, price pressures escalated to 4.4% in April, an uptick from the previous ...Read more...

National Network of The Year Award!

By Scott WestlakeAwardsMay 11, 20230 comments

#awards

This award recognizes a mortgage network that is national in scope. The network has demonstrated the ability to grow and drive value for its respective broker members by way of strong leadership and management, a unique value proposition, and the ability to adapt its model to better ...Read more...

Recent Funding - Pre Construction Mortgage Solution

By Scott WestlakeMy PortfolioMay 11, 20230 comments

#preconstructioncondo #preconstruction #condopurchase

A condo buyer approached us a month back. They had been "pre-approved" 3 years prior to the anticipated registration of their condo they purchased under pre-construction. With only weeks notice, the buyer was advised by the condo corp that the building was being registered and ...Read more...

Frequently (and not so frequently!) Asked Mortgage Questions.

By Scott WestlakeMay 9, 20230 comments

#mortgageadvise

New to mortgages? Have questions but not sure where to start? We have the answers! What is the best interest rate I can qualify for? Your credit score plays a big role in the interest rate you can qualify for. The riskier you appear as a borrower, the higher your rate ...Read more...

Weakening Housing Markets Pose A Risk For The Canadian Economy

By Scott WestlakeApril 24, 20230 comments

#financialsystems #financialmarkets

On April 18, Canada's national banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), released its second Annual Risk Outlook (ARO), outlining what ...Read more...

Good News On The Canadian Housing Front

By Scott WestlakeApril 21, 20230 comments

#realestate #economy #homesales

The Canadian Real Estate Association says home sales in March edged up 1.4% in March. Homeowners and buyers were comforted by the fall in fixed mortgage rates as the Bank of Canada ...Read more...