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My Rates

6 Months 3.10%
1 Year 2.54%
2 Years 2.14%
3 Years 2.49%
4 Years 2.49%
5 Years 2.59%
7 Years 3.19%
10 Years 3.69%
6 Months Open 5.99%
1 Year Open 5.75%
*Rates subject to change and OAC
AGENT LICENSE ID
M08002273
BROKERAGE LICENSE ID
10409
Grant  Brown Mortgage Broker

Grant Brown

Mortgage Broker


Address:
83 Dawson Manor Boulevard, Newmarket, Ontario

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Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

But I’m here to help!

I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.

I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.


BLOG / NEWS Updates

Bank of Canada Maintains it's overnight rate

The Central bank has released its latest rate decision. The Bank of Canada said Wednesday it will maintain its target for the overnight rate at %. The global economy is progressing largely as the Bank anticipated in its January Monetary Policy Report. Financial market volatility, reflecting heightened concerns about economic momentum, appears to be abating, the bank said in a release. Although downside risks remain, the Bank still expects global growth to strengthen this year and next. Recent data indicate that the U.S. expansion remains broadly on track. At the same time, the low level of oil prices will continue to dampen growth in Canada and other energy-producing countries. The BoC also noted recent rebounds in oil and other commodities. Coupled with slight appreciation for the loonie, the central bank said economic conditions are evolving as assumed in its January policy report. Canadas GDP growth in the fourth quarter was not as weak as expected, but the near-term outlook for the economy remains broadly the same as in January, the bank said. National employment has held up despite job losses in resource-intensive regions, and household spending continues to underpin domestic demand. Non-energy exports are gathering momentum, particularly in sectors that are sensitive to exchange rate movements. However, overall business investment remains very weak due to retrenchment in the resource sector. Overall, the bank said risks are balanced. ​ 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, the BoC said.

Fixed Vs. Variable - The Age-Old Question

Courtesy - www.genworth.ca Mortgage holders and homebuyers have enjoyed three years of fixed-interest rates under three per cent. As this low-rate environment continues the age-old question of whether to opt for a fixed- or variable-rate mortgage is still the most common question asked. According to RobertMcLister, mortgage planner andfounder ofintelliMortgageInc., there is no simple answer. It boils down to individual clients, their personal situations and how they manage risk. We ask a lot of questions to determine the appropriate term for a borrower, because only then can you present them options, says McLister. Here are some of the questionsMcListerexplores with his clients: Can you manage a potential rate hike?According to a recent survey, 16 per cent of respondents said they would not be able to afford a 3-percentage point increase in interest rates, while roughly 27 per cent would need to review their budget. Another 26 per cent said they would be concerned, but could probably handle it. We look at a clients payment today, factor in amortization and make sure they can handle the potential increase, both during the term and at renewal, he said. If a client is set on a floating rate we also find ones with fixed payments, but a fixed payment doesnt mean risk-free. Do you have three months of savings put aside? Cash reserves enhance ones ability to withstand higher rates. The last thing you want is a soaring variable-rate at the same time as other budgetary stress, like a layoff, separation, illness, new baby or some other unforeseen expense. Where will you be in five years? Clients who break a fixed-rate mortgage early, can face a steep interest-rate differential penalty. By contrast, terminating a regular variable-rate mortgage costs you just three months of interest. Thats a key consideration if you want refinance flexibility, may sell and rent or cant port for some reason. In many cases, its more prudent to choose a three-year term. Whats the spread between a 5-year fixed and variable? The current spread is about half a percentage point, far below the long-term average. That makes the relative cost of a fixed-rate certainty historically cheap,McListersaid. But it also suggests that the market is expecting low rates to persist. Over the long run, variable rates have easily outperformed fixed rates, but one notable exception is when the spread is very small.Whats the break-even point?Theres a point when a long-term fixed rate becomes cheaper than a variable rate. Today, that would happen if prime rate shot up over three-quarters of percentage point,McListerestimates. If inflation becomes a threat, the Bank of Canada could easily take rates higher than that. Thats the risk. The choice of fixed versus variable remains a personal decision. Everyones circumstances are unique. If a client stays awake at night worrying about their payments increasing, then a fixed rate is the way to go. If theyre financially fit and have a shorter amortization, then a variable may be the right call. Either way, you cant put a price on peace of mind. - See more at: http://resourcecentre.genworth.ca/professional-perspective/fixed-vs-variable-the-age-old-question?utm_source=ho-newsletterutm_medium=emailutm_campaign=issue5#sthash.OdzglnGB.dpuf

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