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...
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...