Canadian Inflation Rose More Than Expected in April, But Core Inflation SlowedBy Scott WestlakeMay 17, 20230 comments#inflation #rates #mortgagerates #economy #drsherrycooper There's been an unexpected hiccup in the Bank of Canada's ongoing battle against inflation. Year-over-year, price pressures escalated to 4.4% in April, an uptick from the previous ...Read more...
National Network of The Year Award!By Scott WestlakeAwardsMay 11, 20230 comments#awards This award recognizes a mortgage network that is national in scope. The network has demonstrated the ability to grow and drive value for its respective broker members by way of strong leadership and management, a unique value proposition, and the ability to adapt its model to better ...Read more...
Recent Funding - Pre Construction Mortgage SolutionBy Scott WestlakeMy PortfolioMay 11, 20230 comments#preconstructioncondo #preconstruction #condopurchase A condo buyer approached us a month back. They had been "pre-approved" 3 years prior to the anticipated registration of their condo they purchased under pre-construction. With only weeks notice, the buyer was advised by the condo corp that the building was being registered and ...Read more...
Frequently (and not so frequently!) Asked Mortgage Questions.By Scott WestlakeMay 9, 20230 comments#mortgageadvise New to mortgages? Have questions but not sure where to start? We have the answers! What is the best interest rate I can qualify for? Your credit score plays a big role in the interest rate you can qualify for. The riskier you appear as a borrower, the higher your rate ...Read more...
High Interest Rates Have Not Slowed the Labour Market SufficientlyBy Scott WestlakeMay 8, 20230 comments#jobsreport #marketupdate #economy #mortgagerates #drsherrycooper The Canadian labour market has done it again, blowing ...Read more...
Monthly Mortgage Newsletter - May 2023By Scott WestlakeMay 1, 20230 comments#monthlymortgagenewsletter #mortgagenews #mortgagenewsletter Welcome to the May ...Read more...
Weakening Housing Markets Pose A Risk For The Canadian EconomyBy Scott WestlakeApril 24, 20230 comments#financialsystems #financialmarkets On April 18, Canada's national banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), released its second Annual Risk Outlook (ARO), outlining what ...Read more...
Good News On The Canadian Housing FrontBy Scott WestlakeApril 21, 20230 comments#realestate #economy #homesales The Canadian Real Estate Association says home sales in March edged up 1.4% in March. Homeowners and buyers were comforted by the fall in fixed mortgage rates as the Bank of Canada ...Read more...
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...