Great News On The Inflation FrontBy Scott WestlakeApril 18, 20230 comments#inflation #economy #rates The Consumer Price Index (CPI) fell sharply in March to ...Read more...
Good News On The Canadian Housing FrontBy Scott WestlakeApril 17, 20230 comments#housing #canadianhousing #inventory #rates #economy The Canadian Real Estate Association says home sales in ...Read more...
Top 8 Questions About Reverse Mortgages.By Scott WestlakeApril 14, 20230 comments#reversemortgage #equitytakeout #refinance #CHIP 1. if i have an existing mortgage on the property, can i get a reverse mortgage? Not only is this the most common question regarding reverse mortgages, it is actually one of the most common uses for a reverse mortgage – to pay off the current mortgage and eliminate that payment ...Read more...
The Bank of Canada Holds Rates Steady Again But Maintains Its Commitment To 2% InflationBy Scott WestlakeApril 12, 20230 comments#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy ...Read more...
Self-Employed and Seeking a Mortgage.By Scott WestlakeApril 12, 20230 comments#businessforself #selfemployedmortgage #selfemployedmortgage Approximately 20% of Canadians are self-employed, making this an important segment in the mortgage and financing space. When it comes to self-employed individuals seeking a mortgage, there are some key things to note as this process can differ from the standard mortgage. Qualifying ...Read more...
Bank of Canada Not Happy With Another Strong Jobs ReportBy Scott WestlakeApril 7, 20230 comments#inflation #boc #interestrates #jobs This morning’s Jobs Report was again solid. Job creation, though more tempered than in earlier months, is still robust. The unemployment rate remained at 5.0% for the fourth ...Read more...
New "Required Income Calculator"By Scott WestlakeApril 5, 20230 comments#mortgageapp #mortgagecalculator Introducing our latest enhancement to the already popular mortgage calculator/app – the ability to calculate how much income is required for any size mortgage. With this feature, you can refine your results by adding expenses such as taxes, heating costs, or condo fees, providing ...Read more...
Monthly Mortgage Newsletter April 2023!By Scott WestlakeApril 4, 20230 comments#monthlymortgagenewsletter #mortgagenews #mortgagenewsletter ...Read more...
What is the First Time Homebuyer Incentive?.By Scott WestlakeMarch 30, 20230 comments#Firsttimebuyer #homebuying #whyuseamortgagebroker #mortgagebroker #buyinghome The first-time homebuyer incentive program is a shared-equity mortgage with the Canadian government that helps qualified first-time buyers reduce their monthly mortgage payments to better afford a home! The Incentive: This program allows you to obtain an incentive from the government ...Read more...
Federal Budget 2023...Press the Snooze ButtonBy Scott WestlakeMarch 29, 20230 comments#federalbudget Federal Budget 2023...Press ...Read more...
Recently Funded - Cross Collateral Mortgage To Assist In Closing The Purchase While Sale Awaits...By Scott WestlakeMy PortfolioMarch 27, 20230 comments#recentlyfunded #portfolio Recently, we had the opportunity to assist a buyer with a short-term bridge loan to purchase a new property while waiting for their existing home to sell. In this transaction, we cross-collateralized the purchase asset and sale to meet the closing and provide a smooth transition for ...Read more...
What is an Uninsurable Mortgage?.By Scott WestlakeMarch 23, 20230 comments#uninsurablemortgage #insuredmortgage #insurablemortgaeg When it comes to mortgages, insurance is necessary to protect the lender on these types of loans, which deal in large sums of money. There are three different tiers relating to insurance, which all have different minimum down payment amounts and varying premium insurance fees. ...Read more...
Further Decline in Inflation in February Will Keep the Bank of Canada On Hold in AprilBy Scott WestlakeMarch 21, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates All eyes will be on the Federal Reserve tomorrow when ...Read more...
Housing Market Could Be Poised For A Spring ReboundBy Scott WestlakeMarch 16, 20230 comments#housing #interestrates #housingtrends #ecoomicupdate The Canadian Real Estate Association says home sales in February bounced 2.3% from the previous month. Homeowners and buyers were comforted by the guidance from the Bank of Canada ...Read more...
US Policymakers Take Emergency Action To Protect Depositors At Failed BanksBy Scott WestlakeMarch 15, 20230 comments#economicupdate #realestateprices #boC #USAmarket #SVB #interestrates Silicon Valley Bank (SVP) had a sterling reputation among the many tech start-ups it helped to finance. What brought SVB down was an old-fashioned bank run set off in 2021 by a series ...Read more...
Selling Your Home in the Spring.By Scott WestlakeMarch 14, 20230 comments#realestatetips #sellinghome #springlisting Spring is the perfect time to sell your home, but before you put up that "For Sale" sign, there are some essential things to consider to ensure you make the most out of the selling process. Here are some tips to help you get started. Hire an Experienced Realtor: The first step in ...Read more...