A Gupta mortgage agent at Northwood Mortgage™ Ltd. Who is one of the GTA’s largest brokerage firms. We provide unmatched mortgage funding and investment services.
Whether you need a mortgage for your home or for a commercial property; whatever your personal circumstances may be, we can help.
We prides on being able to help you finance your home or business property when others cannot.
Each year, we loan approximately half a billion dollars to homeowners as well as industrial and commercial businesses.
Our well-established relationships with over 60 lenders – including Canada’s four major banks – allows us to get you very low low mortgage rates.
With our full range of services, we offer one-stop shop mortgage and financing solutions to fulfill all your lending requirements.
Contact us directly to learn more about how we can help you.
Chip Mortgage/Reverse Mortgage
We provide financial assistance to the home owners above 55 years of age, where most of the time no one is there to help them and advice them, buy providing them CHIP Mortgage/Reverse Mortgage
What is a Chip/Reverse Mortgage?
A reverse mortgage is a loan that is designed for homeowners 55 years of age and older.
A reverse mortgage is secured by the equity in the home, which is the difference between the value of your home and the unpaid balance of any current mortgage. It allows homeowners to obtain cash without having to sell their home.
Reverse Mortgages in Canada
I am mortgage adviser at Northwood Mortgage , a licensed mortgage provider comprised of a large team of highly trained mortgage professionals.
Their employees have developed an extensive knowledge of the Canadian Mortgage Market based on our exposure to it for the more than 25 years.
We are proud to represent quality products like A CHIP Reverse Mortgage, which is a Canadian financial solution that benefits Canadian homeowners.
The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, has been available to Canadian homeowners since 1986 and is provided by Home Equity Bank, a Schedule 1 Canadian Bank.
Despite the fact that reverse mortgages have been around since 1986, many do not know these key benefits:
the bank DOES NOT own your home,
credit score and income verification is NOT required,
no monthly payments are required as long as you own the home!
For more information please contact :
Bank of Canada maintains overnight rate target at 1 ¾ per cent
The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 per cent.
Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report (MPR). While the sources of moderation appear to be multiple, trade tensions and uncertainty are weighing heavily on confidence and economic activity. It is difficult to disentangle these confidence effects from other adverse factors, but it is clear that global economic prospects would be buoyed by the resolution of trade conflicts.
Many central banks have acknowledged the building headwinds to growth, and financial conditions have eased as a result. Meanwhile, progress in US-China trade talks and policy stimulus in China have improved market sentiment and contributed to firmer commodity prices.
For Canada, the Bank was projecting a temporary slowdown in late 2018 and early 2019, mainly because of last years drop in oil prices. The Bank had forecast weak exports and investment in the energy sector and a decline in household spending in oil-producing provinces. However, the slowdown in the fourth quarter was sharper and more broadly based. Consumer spending and the housing market were soft, despite strong growth in employment and labour income. Both exports and business investment also fell short of expectations. After growing at a pace of 1.8 per cent in 2018, it now appears that the economy will be weaker in the first half of 2019 than the Bank projected in January.
Core inflation measures remain close to 2 per cent. CPI inflation eased to 1.4 per cent in January, largely because of lower gasoline prices. The Bank expects CPI inflation to be slightly below the 2 per cent target through most of 2019, reflecting the impact of temporary factors, including the drag from lower energy prices and a wider output gap.
Governing Council judges that the outlook continues to warrant a policy interest rate that is below its neutral range. Given the mixed picture that the data present, it will take time to gauge the persistence of below-potential growth and the implications for the inflation outlook. With increased uncertainty about the timing of future rate increases, Governing Council will be watching closely developments in household spending, oil markets, and global trade policy.
The next scheduled date for announcing the overnight rate target is April 24, 2019. The next full update of the Banks outlook for the economy and inflation, including risks to the projection, will be published in the MPR at the same time.
Young people not in employment, education or training: What did they do in the past 12 months?
Young people (aged 15 to 29) who are not in employment, education or training (NEET) are often considered to be more vulnerable than their peers, as they may face a risk of becoming disengaged or socially excluded, and could miss out on gaining skills or experience in the labour market.
While Statistics Canada has previously examined the characteristics of the NEET population,1 this is the first study to examine the main activities of NEET15- to 29-year-olds over a 12-month period using Labour Force Survey (LFS) data. 2 Among the activities to be analyzed are going to school, working, caring for children, and volunteering both as a main and secondary activity.
Overall, there were 6.9 million young people aged 15 to 29 in Canada in September 2018. Of those, 4.0 million were non-students (57.8%), while 2.9 million were students 3 (42.4%). Both categories (students and non-students) are then divided into the employed and the not employed. The NEET population consists of all non-students who are not employed: in September 2018, 779,000 people were in this category (11.3% of the total population aged 15 to 29).
Those aged 25 to 29 comprised the largest proportion (46.8%) of young people who were NEET during the LFS reference week, followed by 20 to 24 (36.9%), and 15 to 19 (16.2%). While NEET individuals were slightly more likely to be female (52.1%) than male (47.9%) overall, those aged 15 to 19 were a few percentage points more likely to be male, and those aged 25 to 29 were similarly likely to be female.
Of young people who were NEET in September 2018, 34.5% were unemployed (looking for work and available for work), and 65.5% were inactive (not looking for work). While each of these groups may be at risk of falling behind their peers on work experience, this concern is generally greater for those who are inactive, as they may face challenges entering or re-entering the labour force.
Both male and female NEET individuals were more likely to be inactive than unemployed, though the share of women that were out of the labour force (72.2%) was greater than the share of men (58.2%).