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VERICO One Link Mortgage & Financial

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100-99 Scurfield Blvd., Winnipeg, Manitoba

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We are a firm of Accredited Mortgage Professionals (AMP) who work for you as your Mortgage Advisor - making sure you get the best mortgage interest rate and mortgage terms you qualify for. We recognize people are unique and by understanding your needs, we make the mortgage experience simple and carefree. In addition, VERICO One Link has outstanding relationships with lenders who work extra hard to support our deals and provide great pricing for our clients.

Our Mortgage Professionals are committed to integrity and a code of ethics.  VERICO One Link is part of a national network of independently owned and operated mortgage brokers who provide expert professional advise and credit advisory services.  Typically we are paid by the lender that funds the mortgage.  This means our customers do not pay any brokerage fees.

One application with us gives you access to Canada's top lenders, hundreds of innovative mortgage products and guarantees you the lowest interest rate you qualify for. 

From residential to commercial and recreational properties, your VERICO One Link Mortgage Professional can help you make the right decisions by providing you with a wide range of alternatives.  Whether you're buying a home, renewing your mortgage, or thinking about refinancing to renovate, invest or consolidate your debts - TRUST THE VERICO ONE LINK MORTGAGE PROFESSIONALS!


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.

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