My Rates

6 Months 7.69%
1 Year 7.39%
2 Years 6.69%
3 Years 6.69%
4 Years 6.39%
5 Years 6.04%
7 Years 6.39%
10 Years 6.45%
6 Months Open 9.75%
1 Year Open 7.25%
*Rates subject to change and OAC
Scott Murray Mortgage Agent

Scott Murray

Mortgage Agent

120 Hawkins Drive, Guelph, Ontario







lt Makes Sense To Use An Expert

Especially when dealing with complex financial matters like mortgages. Being a member of Canada's #1 Mortgage Broker Network with experts who are part of the Canadian Association of Accredited Mortgage Professionals ensures that the services provided adhere to a strict Code of ethics and professional conduct. This adds a layer of trust and credibility to the services offered.


Mortgage agents play a crucial role as trusted intermediaries, working with numerous financial institutions, which means they can provide access to a wide range of mortgage options. Having access to over 40 of Canada's best mortgage lending financial institutions gives borrowers the opportunity to compare different offers and terms, enabling them to make more informed decisions.


Moreover, the fact that your professional services are paid for by the lenders and not the clients can be very appealing to potential borrowers, as it provides an incentive to seek the assistance of a mortgage expert without incurring additional costs.


Shopping for the best mortgage is not a straightforward process, and it requires specialized expertise to navigate through various bank offers and terms. An experienced mortgage professional can save homeowners time, effort, and potentially money by helping them find the most suitable mortgage financing available in the market.


Additionally, the mortgage process can be daunting for many homeowners, and some financial institutions may not provide the necessary support to make it easier for borrowers. Having a knowledgeable mortgage agent to guide them through the process can alleviate some of the stress and confusion.


My clients rely on me to secure the best mortgage financing for their needs. It's an opportunity for them to receive personalized assistance, access to multiple lenders, and the expertise required to make informed decisions.

Give me a call.  Let's talk.


BLOG / NEWS Updates

Housing shortages in Canada: Updating how much housing we need by 2030

From CMHC Key Highlights To restore affordability, we maintain our 2022 projection that Canada will need 3.5 million more units on top of whats already being built. Weve adjusted our 2030 projection for how many housing units there will be in Canada in 2030 based on current rates of new construction. Our most recent projection is 18.2 million units, down from our 2022 estimate of 18.6 million. This is largely due to the shortfall in housing construction. About 60% of the 3.5 million housing unit gap is in Ontario and British Columbia. This is because housing supply hasnt kept up with demand over the past 20 years in some of the largest urban centres. Additional supply will also be needed in Quebec. Once considered affordable, the province has become less affordable over the last few years. More supply need is also projected for Alberta due to strong economic growth. Other provinces remain affordable to households with an average level of disposable income. However, challenges remain for low-income households in accessing housing that is affordable across Canada. In addition to our baseline scenario of 3.5 million additional units being needed to restore affordability by 2030, we offer 2 alternate scenarios: a high-population- growth scenario and a low-economic-growth scenario. We provide regional highlights for areas across the country. https://assets.cmhc-schl.gc.ca/

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada on Wednesday held its target for the overnight rate at 5%, with the Bank Rate at 5% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflation in advanced economies has continued to come down, but with measures of core inflation still elevated, major central banks remain focused on restoring price stability. Global growth slowed in the second quarter of 2023, largely reflecting a significant deceleration in China. With ongoing weakness in the property sector undermining confidence, growth prospects in China have diminished. In the United States, growth was stronger than expected, led by robust consumer spending. In Europe, strength in the service sector supported growth, offsetting an ongoing contraction in manufacturing. Global bond yields have risen, reflecting higher real interest rates, and international oil prices are higher than was assumed in the July Monetary Policy Report (MPR). The Canadian economy has entered a period of weaker growth, which is needed to relieve price pressures. Economic growth slowed sharply in the second quarter of 2023, with output contracting by 0.2% at an annualized rate. This reflected a marked weakening in consumption growth and a decline in housing activity, as well as the impact of wildfires in many regions of the country. Household credit growth slowed as the impact of higher rates restrained spending among a wider range of borrowers. Final domestic demand grew by 1% in the second quarter, supported by government spending and a boost to business investment. The tightness in the labour market has continued to ease gradually. However, wage growth has remained around 4% to 5%. Recent CPI data indicate that inflationary pressures remain broad-based. After easing to 2.8% in June, CPI inflation moved up to 3.3% in July, averaging close to 3% in line with the Banks projection. With the recent increase in gasoline prices, CPI inflation is expected to be higher in the near term before easing again. Year-over-year and three-month measures of core inflation are now both running at about 3.5%, indicating there has been little recent downward momentum in underlying inflation. The longer high inflation persists, the greater the risk that elevated inflation becomes entrenched, making it more difficult to restore price stability. https://www.bankofcanada.ca/2023/09/fad-press-release-2023-09-06/


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