It PAYS to shop around.
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.
Employment was virtually unchanged in January
In the12months to January, employment increased by0.7% (+126,000). Over the same period, the unemployment rate rose from6.6% to7.2%, as the labour force grew at a faster pace than employment.
There was little change in both full-time and part-time employment in January. However, compared with12months earlier, full-time work increased by172,000(+1.2%) while part time was little changed. Over the same period, the number of hours worked rose by1.2%.
Employment in Alberta decreased by10,000in January. This brought year-over-year declines to35,000(-1.5%), as losses in full-time work (-73,000) were partly offset by gains in part time (+38,000). The employment decrease in January raised the unemployment rate in the province to7.4%, the highest since February1996. The unemployment rate in Alberta was higher than the national rate for the first time since December1988.
Unemployment rates in Alberta and Canada
In Manitoba, employment decreased by5,300in January, the second decline in three months. With these recent losses, employment in the province was down1.0% (-6,600) compared with January2015. At6.1% in January, the unemployment rate was little changed as fewer people participated in the labour market.
Employment in Newfoundland and Labrador fell by2,400in January, continuing a recent downward trend that began in the autumn of2015. In the12months to January, employment losses in the province totalled7,400(-3.1%). The unemployment rate was unchanged at14.4% in January as fewer people participated in the labour market.
For a second month in a row, Ontario was the lone province with employment growth, up20,000in January. However, the unemployment rate was unchanged at6.7% as more people participated in the labour market. In the12months to January, employment in the province increased by100,000(+1.5%).
What’s coming for Canada’s economy
VERICO economist Michael Campbell gives us an overview into the current state of the Canadian economy and what you should be aware of.
After continually underestimating the impact of falling resource prices especially oil, the Bank of Canada has come to realize that this is a major restructuring of the economy that it estimates can take up to 5 years and remove $50 billion a year out of the economy annually.
But please understand that the economic problems are focused in Alberta, Saskatchewan and Newfoundland the economy outside resources is still moving along.
The big economic hope on the short term rests on a falling loonie that represents a de facto 40% plus pay cut for Canadians over the last 2 years. Given that 75% of our exports go to the States, exporters will be thrilled with the lower dollar.
Were also looking for a big year in tourism thanks to the low dollar. The drop in the loonie has already spurred a 21% increase in same day visit from the US in the first 10 months of 2015 while same day visits to the States by Canadians dropped 9.3%, which is good news for retail.
Click here for the full report.