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Stephanie Gemmell

Stephanie Gemmell

Mortgage Broker

105 Queen St S, Streetsville, Ontario









Don't limit yourself to one lender! With over 2 decades of banking experience, helping clients achieve their goals and realize their dreams is my passion. I take the time to educate my clients on mortgages and the endless products being offered out there. I make sure they are comfortable with their transaction from start to finish.  Borrowers need someone trustworthy on their side, someone who knows how to tailor products to suit their own needs, not the lenders. 

BLOG / NEWS Updates

VERICO Economist on Brexit - Q3 2016 Economic Update with Michael Campbell

The following is an excerpt of the Economic Update for Q3 2016 released by VERICOs Economic Consultant Michael Campbell. Read the full report on the VERICO blog Brexit is important but its part of a much bigger story. Ive been talking about the demise of the European Union for six years and the UK vote to remain or leave is just one step. The key to know is that the Brexit vote and the demise of the European union is driven by economic and financial events not politics. The politics that the media is so fond of focusing on is a by-product of the dismal economic and financial performance. If the Europes economy and job creation were booming there would be far less dissatisfaction with the EU and no Brexit vote or the surge in anti-EU parties. The gross mishandling of the refugee crisis also exacerbates the dissatisfaction with the EU establishment. Of course there are numerous other complaints but none would resonate with the same level of passion if the economy was strong. Its the same in the US. Both Donald Trump and Bernie Saunders would not have gained so much support if the US economy hadnt left so many people behind while the elites thrived. Ninety-five million Americans are permanently unemployed. The point to understand is that this is just the beginning. My prediction is that 2017 to 2020 will make the economic and financial volatility weve witnessed over the last five years look like a warm-up act.

Bank of Canada holds overnight rate target at 1/2 per cent

The Bank of Canada just 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. Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canadas economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty. In this context, the forecast for the global economy has been marked down slightly from the Banks April Monetary Policy Report (MPR). Global GDP growth is projected to be 2.9 per cent in 2016, 3.3 per cent in 2017, and 3.5 per cent in 2018. Real GDP grew by 2.4 per cent in the first quarter but is estimated to have contracted by 1 per cent in the second quarter, pulled down by volatile trade flows, uneven consumer spending, and the Alberta wildfires. A pick-up to 3 1/2 per cent is expected in the third quarter as oil production resumes and rebuilding begins in Fort McMurray. Consumer spending will also get a boost from the Canada Child Benefit. While the fundamental elements of the Banks projection are similar to those presented in April, the forecast has been revised down in light of a weaker outlook for business investment and a lower profile for exports, reflecting a downward adjustment to US investment spending. Real GDP is expected to grow by 1.3 per cent in 2016, 2.2 per cent in 2017, and 2.1 per cent in 2018. The Bank projects above-potential growth from the second half of 2016, lifted by rising US demand and supported by accommodative monetary and financial conditions. Federal infrastructure spending and other fiscal measures announced in the March budget will also contribute to growth. Despite recent volatility, the Bank expects the underlying trend of export growth to continue, leading to a pick-up in business investment. Higher global oil prices are helping to stabilize Canadas energy sector and household spending is expected to increase moderately. The Bank forecasts that the output gap will close somewhat later than estimated in April, towards the end of 2017. At the same time, financial vulnerabilities are elevated and rising, particularly in the greater Vancouver and Toronto areas. The Banks Governing Council judges that the overall balance of risks remains within the zone for which the current stance of monetary policy is appropriate, and the target for the overnight rate remains at 1/2 per cent.


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