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My Rates

6 Months 3.10%
1 Year 2.34%
2 Years 2.14%
3 Years 2.44%
4 Years 2.44%
5 Years 2.54%
7 Years 3.19%
10 Years 3.69%
*Rates subject to change and OAC
Charlene Demchuck-Nelson Mortgage Associate

Charlene Demchuck-Nelson

Mortgage Associate


Phone:
Address:
PO Box 73107 RPO Woodbine, Calgary, Alberta

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Having access to multiple lenders and related financial organizations allows me greater leverage to negotiate a wide array of mortgage products, rates, terms and conditions with financial institutions across the country. For my customers this means great value in rates, terms and conditions for their specific mortgage needs. This could result in many thousands of dollars in savings through the years of home ownership.

As an Mortgage Associate, I will meet your needs at the highest level of service you deserve, to eliminate the time of shopping and negotiate the right mortgage for YOU to suit your individual needs. Whether you are a first time or repeat home buyer, wanting to renew or refinance your existing mortgage, self-employed, new to Canada, looking for a larger home, Vacation Property, considering a debt consolidation, Renovating, Investing or are credit challenged, I am dedicated to determine your specific mortgage financing needs. I will counsel you on credit and mortgage qualifications.

 


BLOG / NEWS Updates

Housing Market Digest by Will Dunning, Economist for Mortgage Professionals Canada

The Office of the Superintendent of Financial Institutions (OSFI) now requires that all residential mortgages by federally-regulated lenders must be stress-tested, at two percentage points above the contract interest rate (or the 5- year posted rate, if that is higher). In combination with the requirements for mortgage insurance, about 90% of all new mortgages will be tested. This can be expected to reduce housing activity by 10-15%. It is on top of the impact from recent rises for mortgage interest rates (another 5-10% drop in activity). The combined 15-25% drop in housing activity will affect the broader economy. In two years, employment could be 150,000-250,000 lower than it would otherwise be. There is a risk that house prices will fall. In a modern economy, a sustained drop in house prices is one of the most dangerous things that can happen: as happened in the US a decade ago, falling house prices can turn into widespread economic decline. Resale activity recovered a bit more in September, to 492,900, due to partial rebounds in BC and Ontario. Activity is flat in most other areas. CREAs House Price Index was flat in September. The year-over-year change is now 10.7% (down from the peak of 19.7% that was seen in April). The sales-to-new-listings ratio (SNLR) was 55.7% in September, slightly above the balanced market threshold of 51%. This indicator points to an outlook for stable prices (at worst). But, as noted, OSFIs stress test policy creates a risk of falling prices. We should, in general, expect that resale activity will trend upwards over time, because the population is growing and the housing inventory is expanding. Therefore, it is useful to look at sales on a per capita basis. Recent activity is below the long-term average.

Employment increased by 35,000 in October

In October, employment rose for youth aged 15 to 24, while it was little changed for the core-aged population of 25- to- 54 year-olds, and for people 55 and older. The largest employment increase was in Quebec, followed by Alberta, Manitoba, Newfoundland and Labrador, and New Brunswick. At the same time, there was a decline in Saskatchewan. Employment rose in several industries, led by other services; construction; information, culture and recreation; and agriculture. Employment declined in wholesale and retail trade. The number of private sector employees increased in October, while public sector employment and self-employment were little changed.

MY LENDERS

TD Bank Scotia Bank First National B2B Bank Home Trust
MCAP Merix Industrial Alliance Optimum Canadiana Financial
Equitable Bank ICICI Bank Fisgard Capital  RMG Mortgages Street Capital