It PAYS to shop around. Let your OntarioMortgage.Guru help you find the best solution to meet your needs!
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.
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I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.
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Why You Should Call Your Mortgage Broker After the "Nice Lady at the Bank" Offers You a Mortgage!
So you are looking for a new mortgage to either purchase a home, take some equity out of your existing home or to refinance your existing debt, and you went and saw the nice lady at the bank and she said YES! Are you done now?NO! Why do we say no? A mortgage is a major financial commitment that you are taking on. Most people focus on the interest rate, and make their decision solely based on what they feel is a competitive interest rate offering.However, hidden inside all of the legal paperwork of a mortgage, are other potential costs and risks.Depending on future circumstances, which as we know are not always easy to predict, you could be selecting a mortgage that will cost you significantly more money in the long run!Would itnot be wise to be aware of these potential risks and/or costs, and should you not be making your decision based on all of these important factors? In addition, by going to your bank, you are gettinga quotefrom only one lender. As Mortgage Brokers, we have access to a large pool of lenders that compete with the major banks, and more often than not one of these lenders can provide mortgage terms and conditions that are much more favourable to you than the large banks offer. What do we recommend? We recommend that you DO go to your current financial institution, and see if they will offer you a mortgage. Once you have received an offer from them, we then suggest that you advise them that you are going to shop around for the best mortgage rate and terms. You will very likely get a better rate than the one they originally offered to you. Then we recommend just one more step. Contact us and provide us with the best deal your bank has offered you. We will do the rest, contacting our large stable of lenders to find a better mortgage for you. One extra step, that does not cost you anything, and you can have the peace of mind that whichever mortgage you choose to go with, even if it is the one from the nice lady at the bank, it is indeed competitive and provides you with the lowest risk and greatest financial stability. It is that easy. We're here to help. Kenneth and Aiesha1firstname.lastname@example.org@fairmortgagesolutions.com
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.
Canadian home sales edge up again in October
According to statistics released by The Canadian Real Estate Association (CREA), national home sales posted a modest monthly increase in October but remain below levels recorded one year ago.
Newly introduced mortgage regulations mean that starting January 1st, all home buyers applying for a new mortgage will need to pass a stress test to qualify for mortgage financing, said CREA President Andrew Peck. This will likely influence some home buyers to purchase before the stress test comes into effect, especially in Canadas pricier housing markets. A professional REALTOR is your best source for information and guidance in negotiations to purchase or sell a home during these changing times.
Home sales via Canadian MLS Systems edged up 0.9% in October 2017 on the heels of monthly increases in August and September, but remained almost 11% below the record set in March.
National sales momentum is positive heading toward year-end, said Gregory Klump, CREAs Chief Economist. It remains to be seen whether that momentum can continue once the recently announced stress test takes effect beginning on New Years day. The stress test is designed to curtail growth in mortgage debt. If it works as intended, Canadian economic growth may slow by more than currently expected.