Canadian Housing Market Paused In JulyBy Scott WestlakeAugust 15, 20240 comments Despite the continued decline in interest ...Read more...
๐ WOW! I'm thrilled to announce that FC Funding has reached an incredible milestone of 1 BILLION in funded mortgage volume this year! ๐By Scott WestlakeAugust 12, 20240 commentsThis achievement is a testament to the hard work and resilience of our entire team, especially in a challenging market. I am immensely grateful to our clients, referral partners, friends, and family for their unwavering support and trust. This accomplishment wouldn't have been possible ...Read more...
Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-PlayBy Scott WestlakeAugust 12, 20240 comments#economicupdate #employment #bankofcanada Canadian employment data, released today by Statistics ...Read more...
๐ Welcome to the August Edition of Your Mortgage Newsletter! ๐By Scott WestlakeAugust 5, 20240 commentsAs the summer sun shines in its full glory, I hope you’ve been enjoying the season to the fullest! With August in full swing, it's time to share some insightful strategies that can help you tackle your mortgage and cut down on those pesky energy bills. Let's dive into the good ...Read more...
Monetary Policy Update: Implications for Homebuyers and Mortgage BorrowersBy Scott WestlakeJuly 25, 20240 commentsOn July 24, 2024, the Bank of Canada announced a reduction in its target for the overnight rate to 4.5%. This move comes amidst ongoing adjustments to normalize the central bank's balance sheet. Consequently, the Bank Rate stands at 4.75%, while the deposit rate aligns at 4.5%. As ...Read more...
Canadian Inflation Fell in June, Setting the Stage For BoC Rate CutBy Scott WestlakeJuly 17, 20240 commentsInflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). The Consumer ...Read more...
Early Signs Of Renewed Life In June Housing MarketsBy Scott WestlakeJuly 15, 20240 commentsThe Canadian Real Estate Association (CREA) announced today that national home sales rose 3.7% between May and June following the Bank of Canada's rate cut. While activity was still muted, it wasn't nearly as weak as the media recently portrayed. “It wasn’t a ‘blow ...Read more...
May Was Another Sleepy Month For HousingBy Scott WestlakeJune 18, 20240 comments The Canadian Real Estate Association (CREA) announced ...Read more...
Bank of Canada Rate Cut: A Positive Step for CanadiansBy Scott WestlakeJune 6, 20240 comments#rate #boc #bankofcanada #interestrates #variablerate #economy Today, the Bank of Canada announced a reduction in its overnight policy interest rate by 0.25% to 4.75%. While this may seem like a small change, it is a positive step for consumer sentiment, especially in an expensive country and province where many of our clients reside. Although ...Read more...
Welcome to the June issue of my monthly newsletter!By Scott WestlakeJune 4, 20240 comments This month, let’s ...Read more...
Canadian Inflation Eased Again in April, Raising the Chances of a June Rate CutBy Scott WestlakeMay 21, 20240 comments#economicupdate #realestateprices #boC #housing #interestrates The Consumer Price Index (CPI) rose 2.7% year-over-year (y/y) in April, down from 2.9% in March. This marks the fourth consecutive ...Read more...
Homebuyers Cautious As New Listings Surge In AprilBy Scott WestlakeMay 16, 20240 comments#economicupdate #realestateprices #boC #housing #interestrates The Canadian Real Estate Association (CREA) announced today that national home sales dipped in April 2024 from its prior month, as the number of properties available for sale rose ...Read more...
April's Strong Job Gains Likely Postpone Rate Cuts Until JulyBy Scott WestlakeMay 13, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #economicupdate Today's StatsCanada Labour Force Survey for April blindsided economists by coming in much more robust than expected. Employment in Canada rose a whopping 90,400 in April, the most ...Read more...
My Mortgage Toolbox - The Best Mortgage App for the Summer MarketBy Scott WestlakeMay 10, 20240 comments#mymortgagetoolbox #mortgagecalculator #mortgageapp #SW With My Mortgage Toolbox, you can access a wide range of features that make the home-buying process simple and straightforward. Here's what you can do with the app: Calculate Your Total Cost of Owning a Home: Understand the full financial commitment before you buy. Estimate ...Read more...
May 2024 Mortgage NewsletterBy Scott WestlakeMay 7, 20240 comments#monthlymortgagenewsletter #mortgagenews #mortgagenewsletter This month, we're look at essential tips for mortgage renewal, along with some fantastic yard appeal ideas to make the most of the upcoming summer season. Plus, we've got some exciting updates on additional services and opportunities for you to consider. Let's get started! What ...Read more...
๐๏ธโโ๏ธ Get Ready for a Day of Golf for a Great Cause! ๐๏ธโโ๏ธBy Scott WestlakeMay 3, 20240 comments#OTMH #golftounrment Hey everyone, I'm working again with the Oakville Trafalgar Memorial Hospital (OTMH) Golf Committee to put on another amazing charity golf tournament, and I'd love for you to join us! Mark your calendars for Monday, August 19, 2024, because we're heading to Glen Abbey Golf Club ...Read more...