3 - Blog - The Westlake Team

Bank of Canada Rate Cut: A Positive Step for Canadians

By 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 Cut

By 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 April

By 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 July

By 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 Market

By 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 Newsletter

By 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...

🏌️‍♂️ Get Ready for a Day of Golf for a Great Cause! 🏌️‍♀️

By 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...

Federal Budget Targets Rich Canadians For New Spending

By Scott WestlakeApril 17, 20240 comments

#CanadianBudget #2023Budget #FiscalPolicy #Taxation #GovernmentSpending #HousingMarket #RealEstate #CapitalGains #TaxReform #EconomicPolicy #Inflation #GDP #RRSP #HomeBuyersPlan #RentalMarket #Immigra

The budget focuses on helping Millennial and Gen Z voters ...Read more...

Ottawa to Allow 30-year Amortizations for First Time Buyers' Mortgages on New Homes

By Scott WestlakeApril 12, 20240 comments

#FTHB #firsttimehomebuyer #mortgagenews #insuredmortgage #newbuild #marketupdate

Advocates are applauding Ottawa's decision to extend the amortization period on insured mortgages for specific homebuyers, viewing it as a positive step toward making homeownership more attainable. Finance Minister Chrystia Freeland announced the extension to 30 years for insured ...Read more...