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My Rates

6 Months 4.45%
1 Year 6.04%
2 Years 5.74%
3 Years 5.34%
4 Years 5.24%
5 Years 4.99%
7 Years 5.84%
10 Years 6.00%
6 Months Open 8.25%
1 Year Open 6.45%
*Rates subject to change and OAC
AGENT LICENSE ID
14001035
BROKERAGE LICENSE ID
13228
Mark Richardson Mortgage Agent

Mark Richardson

Mortgage Agent


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Address:
205 - 345 Kingston Road, Pickering, Ontario

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Welcome to my Canadian Tailored Mortgage Solution brokerage website where you will find alot of useful industry information. Along with a variety of different mortgage calculators from Mortgage Affordability, Payoff, Refinance, to Mortgage Qualifier etc.  I'm Mark Richardson mortgage agent with over 7+ years industry experience and this is my brokerage website.


BLOG / NEWS Updates

Bank of Canada maintains policy rate and forward guidance

The Bank of Canada today held its target for the overnight rate at the effective lower bound of percent, with the Bank Rate at percent and the deposit rate at percent. The Banks extraordinary forward guidance on the path for the overnight rate is being maintained. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds roughly constant. The global economy continues to recover from the effects of the COVID-19 pandemic. Economic growth in the United States has accelerated, led by consumption, while growth in some other regions is moderating after a strong third quarter. Inflation has increased further in many countries, reflecting strong demand for goods amid ongoing supply disruptions. The new Omicron COVID-19 variant has prompted a tightening of travel restrictions in many countries and a decline in oil prices, and has injected renewed uncertainty. Accommodative financial conditions are still supporting economic activity. Canadas economy grew by about 5 percent in the third quarter, as expected. Together with a downward revision to the second quarter, this brings the level of GDP to about 1 percent below its level in the last quarter of 2019, before the pandemic began. Third-quarter growth was led by a rebound in consumption, particularly services, as restrictions were further eased and higher vaccination rates improved confidence. Persistent supply bottlenecks continued to inhibit growth in other components of GDP, including non-commodity exports and business investment.

Excess Household Savings and Implications for Inflation in Canada

Canadians have built up a record amount of savings during the pandemic. By some estimates, it totals around $300 billion. This stockpiled spending firepower has fueled concerns that inflation could be higher and more persistent than currently thought, especially at a time of growing supply-side constraints. However, there are a few reasons to suggest the inflation impulse from excess savings may not be as hefty as some believe. The amount of funds in highly liquid cash form is significantly lower than the headline estimate, consumers are likely to gradually draw on their savings to spend, and the reorientation of outlays from goods to services will dampen price pressures. Still, the amount accumulated in savings is large and unprecedented. This represents an important upside risk to the Bank of Canadas consumption and inflation forecast in the October Monetary Policy Report. Source: https://economics.td.com/ca-excess-saving

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