15 - Blog - The Westlake Team

What To Know About Porting Your Mortgage

By Scott WestlakeOctober 27, 20220 comments

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 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...

Getting A Mortgage After Bankruptcy

By 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 Report

By 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...

Our Chief Economists Take On Interest Rates

By 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...

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 Coming

By 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 August

By 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 Slows

By 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...

The Bank of Canada Hiked Rates Again And Isn't Finished Yet

By 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...

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 Celebrate

By 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 July

By Scott WestlakeAugust 16, 20220 comments