Will the May Inflation Decline Thwart Another Rate Hike in July?By Scott WestlakeJune 27, 20230 comments#inflation #bankofcanada #boc #rates #mortgagerate The May inflation data, released this morning by Statistics ...Read more...
Strong May Housing Triggered BoC Rate HikeBy Scott WestlakeJune 16, 20230 comments#economicupdate #realestateprices #boC #housing #interestrates The Canadian Real Estate Association says home sales in May rose 5.1% month-over-month (m/m), adding to the 11.1% gain in April. This brought the year-over-year sales gain to 1.4%, ...Read more...
Mortgage Agent Training - The Importance of ChecklistsBy Scott WestlakeMortgage Agent TrainingJune 9, 20230 comments#mortgageagenttraining Introduction: Creating a checklist is a simple yet powerful tool that can significantly enhance your performance as a mortgage agent. By setting clear objectives, fostering accountability, and allowing for small wins, checklists can boost confidence and lead to greater success. ...Read more...
Unlocking Home Equity: The Benefits of a Reverse Mortgage vs a HELOC.By Scott WestlakeJune 9, 20230 comments#HELOC #reversemortgage Do you need help to meet your retirement income needs? With rising inflation, accessing sufficient cashflow for your desired lifestyle can be challenging. However, with over 70% of Canadians owning their homes, tapping into home equity can be the cashflow solution you need. Tapping ...Read more...
Holy Smokes, The Bank of Canada Means BusinessBy Scott WestlakeJune 8, 20230 comments#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy ...Read more...
Weekly Business Boosting Checklist for Mortgage Brokers:By Scott WestlakeMortgage Agent TrainingJune 6, 20230 comments#mortgageagenttraining #mortgagebrokertraining #TWT Weekly Business Boosting Checklist for Mortgage Brokers: Network with Professionals: Attend networking events and industry conferences to connect with real estate agents, financial advisors, accountants, investment advisors and other professionals in related fields. ...Read more...
Recently Funded Mortgage --> Unlocking Financial Success: The Power Couple's Journey to Mortgage SuccessBy Scott WestlakeMy PortfolioJune 6, 20230 comments#recentlyfunded #businessforself #netincomeaftertax #businessincome #businessforselfmortgage #selemployedmortgage Introduction: In the world of high net worth individuals and entrepreneurs, financial decisions can often be complex and challenging. Recently, we had the pleasure of working with a remarkable power couple who epitomized success in both their personal and professional lives. Their ...Read more...
Don't Be house PoorBy Scott WestlakeJune 5, 20230 comments#budget #moneysavings Don’t Be House Poor. Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, which might lead to cash ...Read more...
Good News Is Bad News For The Bank Of CanadaBy Scott WestlakeJune 1, 20230 comments#inflation #economicupdate #rates The Canadian economy ...Read more...
What You Should Know About Mortgage Amortization.By Scott WestlakeMay 30, 20230 comments#amortization #mortrgageamortization Mortgage amortization refers to the process of paying off a mortgage loan through regular installments over a specified period. Here are some key points to know about mortgage amortization: Definition: Mortgage amortization is the gradual repayment of a loan's principal and ...Read more...
How to Pay Off Your Mortgage Faster.By Scott WestlakeMay 23, 20230 comments#mortgageprepayment #paymortgagefaster When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25 to 30 year amortization schedule, there are several strategies you can consider to pay off your mortgage quicker. Here are some effective ways to accelerate your ...Read more...
Vital Spring Housing Market Bodes Well For The EconomyBy Scott WestlakeMay 17, 20230 comments#housevalue #springmarket #housingprices The Canadian Real Estate Association says home sales in April surged 11.3% month-over-month. The Spring rebound was on the heels of smaller back-to-back gains in the prior two months. ...Read more...
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...