- Business Administration Degree with a Major in Marketing from Red River in 2007
I first joined the team of Accredited Mortgage Professionals at One Link back in 2007 when I finished my schooling at Red River College. I worked in the industry for 2 years to become eligible to apply for the Accredited Mortgage Professional designation (AMP) and later that year moved to Calgary and became an underwriter for, at the time, the top mortgage broker lender, FirstLine Mortgages. I spent a year there before moving back to Winnipeg and returning to One Link to once again partner up with Diane Macpherson.
I think it’s very important for people to work with a professional and someone they trust. There is so much information out there and mortgage products that will suit a person’s needs. Rate is important but knowing the mortgage you're getting into is more important, there are a ton of hidden fee’s and restrictions that can be associated with rate specials on the market so make sure you’re talking to a professional to see if a certain mortgage product is good for you. I work for YOU not the lender and better yet my services are FREE!!!
Are These Professionals In Your Life? If Not It Could Cost You!
Aside from having professionals like your family doctor and dentist you see once a year, it is very important to have people you trust working for you. People you can phone and pick up right where you left off whether its been 1 month or 5 years. Most professionals work on a commission basis or earn money based on making you happy or continually bringing you benefit. A good professional will keep you up to date and have your best interest front of mind with any transaction you need. Professionals in your life not only help save you thousands of dollars but also help you sleep easier knowing you and your family are being looked after. Here are some professionals you should have in your life;
1) Mortgage Broker- Mortgages are the largest debt you will take on in your life. They are very complex especially with constant changes happening in the industry. You need someone who focuses on mortgages day in and day out knowing which mortgage products are best suited for you so you dont incur large penalties down the road. Mortgage professionals can help you achieve your goals of homeownership and becoming mortgage free faster. Best of all, mortgage broker services are free!
2) Financial Planner- Who wants to retire when theyre 80?! Having a financial planner working with you as early in your life as possible will really help you understand the value of saving early. Financial planners not only help you reach retirement goals, they can help save money on taxes through RRSPs. Theyre also licensed life insurance agents to ensure you are fully covered incase something unfortunate happens. They make a good chunk of their money off commissions, so when you do well, they do well.
3) Realtor- I cant stress enough the importance of using a realtor, especially when you are a first time buyer. It doesnt cost you anything and their opinion on the house, location, resale value are invaluable when everything is so new to you. A realtor is there to represent you and your best interests. They have access to multiple marketing sites and also have valuable information about comparables to ensure you dont over pay when buying and to price your house right to sell it quickly, maybe even receive multiple offers. Working with a realtor you trust is an important asset to you. If youre buying a home using a realtor is no cost to you.
4) Insurance Broker- Who gets home insurance and reads it thoroughly to make sure everything you possibly need to be insured for is insured? I know I dont. Its important to have low insurance payments but its even more important to make sure youre being covered for what you need. Insurance agents are commission based, working with a trusted advisor can help save you time knowing they are looking for the best coverage and premium for your needs.
5) Lawyer- There are 2 types of lawyers I would suggest working with. 1) Family lawyer: these lawyers will help set up wills and amend wills 2) Real Estate Lawyer: some lawyers are well versed in family and real estate law but if you have a lawyer that isnt actively participating regularly in real estate I would strongly suggest you find a lawyer that is. There are many mortgage lenders in the industry, from monolines to banks to credit unions to private lenders and each lender is unique. The documentation a lawyer is required to produce for some monoline lenders is heavier than some traditional lenders but that monoline may offer a better mortgage for you. If youre using a lawyer that isnt familiar with the paper and processes of certain lenders it could end up costing you more in the end for the extra time and efforts the lawyers need to process your mortgage.
6) Accountant- For salaried and hourly people this isnt as important but once you have some fluctuating income, youre a sales person, or business for self, it is very important you have an accountant that makes sure your is are dotted and your ts are crossed. They could save you a ton of money in the end not to mention if CRA comes knocking you want to be sure you have a professional behind you that did your taxes.
7) Health and Fitness professional- You wont need any of the above for a very long time if you dont take care of yourself. In my mind if you dont have your health then your life isnt going to be enjoyable. Whether its walking, running, going to the gym, playing sports, personal training, crossfitting; whatever it is, spend that little extra money each year to make your health a priority. Having a nutritionist and massage therapist isnt the worst thing either. A lot of employees have benefits, which include a certain dollar amount for health each year. I have seen some companies pay for healthy related things like gym memberships, hockey registrations, nutritionist consultations, and massages. So, if you have benefits, make sure youre using them!
8) Car Repair Shop- I dont know a lot of people who enjoy taking their car in to get fixed. Personally I know nothing about cars but I do know when I call my car shop they know me by my first name and dont even have to look up the car Im driving. When I take my car in they could be speaking gibberish to me but because I have someone I trust isnt taking advantage of me and will fix my car right and quickly, I can hand over my keys feeling a little less stressed.
Written by Caily MacGregor, AMP
Bank of Canada maintains overnight rate target at 1/2 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Uncertainty about the global outlook is undiminished, particularly with respect to policies in the United States. The Bank has made initial assumptions about prospective tax policies only, resulting in a modest upward revision to its US growth outlook. Overall, the global economy is strengthening largely as expected and prices of some commodities, including oil, have risen. The rapid back-up in global bond yields, partly reflecting market anticipation of US fiscal expansion, has pulled up Canadian yields relative to the OctoberMonetary Policy Report(MPR).
Bearing in mind the important assumptions embedded in its forecast, the Bank projects that Canadas real GDP will grow by 2.1 per cent in both 2017 and 2018. This implies a return to full capacity around mid-2018, in line with Octobers projection.
In the context of a projection that is largely unchanged, the Banks Governing Council judges that the current stance of monetary policy is still appropriate and maintains the target for the overnight rate at 1/2 per cent. Governing Council will continue to assess the impact of ongoing developments, mindful of the significant uncertainties weighing on the outlook.
Source: Bank of Canada
Canadian Housing Starts Trend Declined in December
The trend measure of housing starts in Canada was 198,053 units in December compared to 200,105 in November, according to Canada Mortgage and Housing Corporation (CMHC).
The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of Canadas housing market. In some situations analyzing only SAAR data can be misleading, as they are largely driven by the multi-unit segment of the market which can vary significantly from one month to the next.
The standalone monthly SAAR for all areas in Canada was 207,041 units in December, up from 187,273 units in November. The SAAR of urban starts increased by 11.8per cent in December to 187,621 units. Multiple urban starts increased by 13.9per cent to 120,750 units in December and single-detached urban starts increased by 8.1per cent, to 66,871 units.
In December, the seasonally adjusted annual rate of urban starts increased in Ontario, Quebec and the Prairies, but decreased in British Columbia and in Atlantic Canada.