Insurance Products.By Scott WestlakeJune 23, 20220 comments#insurance #insuranceproducts #mortgageinsurance People don’t always want to talk about home insurance, but when it comes to your house there is no better investment than insurance. But, with the number of insurance products available, it can be hard to know where to start! While it can seem overwhelming, it’s a good ...Read more...
Canadian Inflation Surged to 7.7% In MayBy Scott WestlakeJune 23, 20220 comments#inflation #economy #marketupdate #interestrates Canada's consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that ...Read more...
Housing Market Correction Gains Steam in MayBy Scott WestlakeJune 15, 20220 comments#interestrates #boc #canadianrates #rateincrease 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. In April, ...Read more...
Canadian Labour Market Is Much Too Tight--Adds To Inflation PressureBy Scott WestlakeJune 15, 20220 comments#labour #jobs #economy Today's Labour Market Survey for May 2022 showed that hiring continued at a rapid pace last month in an increasingly tight labour market, driving the jobless rate to another record ...Read more...
How Bridge Financing Works.By Scott WestlakeJune 10, 20220 comments#bridgeloan #shorttermloan #privatelending In life, things rarely go as planned. This is especially true when it comes to real estate! When it comes to buying a new home, in a perfect world, most of us would like to take possession of their new residence before having to move out of the old one. This makes moving a lot easier ...Read more...
Monthly Mortgage Newsletter - June 2022By Scott WestlakeJune 8, 20220 comments#monthlymortgagenewsletter #SW #DLC #TWT #2022 Welcome to the June ...Read more...
Recently Funded - $2.4M Reverse Mortgage for High Net Worth Client.By Scott WestlakeMy PortfolioJune 3, 20220 comments#recentlyfunded #portfolio #reversemortgage #retirement Would it surprise you if you learned that High-Net-Worth (HNW) clients use reverse mortgages as part of their overall financial planning strategy? HNW clients have a minimum of $1 million dollars in liquid assets. So why use a reverse mortgage? Why High-Net-Worth Clients Use ...Read more...
Another Jumbo Rate Hike, Signalling More To ComeBy Scott WestlakeJune 2, 20220 comments#BoC #bankofcanada #variablerate #increasedrate #ratechange The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back ...Read more...
9 Reasons People Break Their Mortgage.By Scott WestlakeJune 1, 20220 comments#breakingmortgage #whybreakmortgage Did you know, approximately 60 percent of people break their mortgage before their mortgage term matures? While this is not necessarily avoidable, most homeowners are blissfully unaware of the penalties that can be incurred when you break your mortgage contract – and sometimes, ...Read more...
Canadian Inflation Shows No Signs Of AbatingBy Scott WestlakeMay 19, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC Inflation at 6.8% is unmitigated bad news. The Bank of Canada looks flat-footed again, having forecast that Inflation would be at least a full percentage point lower by now. What's ...Read more...
Canadian Housing Market Feels The Pinch of Higher RatesBy Scott WestlakeMay 17, 20220 comments#rateupdate #BoC #bankofCanada #housingsupply #supplyvsdemand 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. In April, ...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...
Recently Funded - $1.2M Home Renovation LoanBy Scott WestlakeMay 11, 20220 comments#homerenovation #construction #renovationloan #purchaseplusimprovement TWT Recently funded a credit facility to help renovate our clients kitchen, main floor and primary restroom, add a 3 season room and landscape. Our clients approached us to pre qualify them for a new home. After months of searching the market they could not find the right property ...Read more...
How To Protect Yourself From Real Estate Fraud & SchemesBy Scott WestlakeMay 10, 20220 comments#realestatescams #fraudprevention #protectyourself As online-based transactions become more prevalent, cybercriminals are finding new and creative ways to steal your money. So, what can you do to make sure you don’t fall prey to these malicious attacks? Here are the most common types of real estate fraud schemes and some ways ...Read more...
Your Home Buying A-Team.By Scott WestlakeMay 9, 20220 comments#ateam #Sw #TWT #DLC There are four major components to any successful home buying A-Team: your mortgage professional, realtor, home inspector and lawyer. Each of these individuals is important to various aspects of the home buying process. MORTGAGE PROFESSIONAL While many people think a real estate agent ...Read more...
Labour Market Bumps Up Against Capacity ConstraintsBy Scott WestlakeMay 6, 20220 comments#jobs #jobsmay2022 Job vacancies abound in many sectors, yet employers have trouble finding workers to fill those jobs and retaining workers with so many options available. As the jobless rate falls ...Read more...