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My Rates

1 Year 3.19%
2 Years 3.04%
3 Years 2.99%
4 Years 2.99%
5 Years 2.74%
7 Years 2.99%
10 Years 3.09%
6 Months Open 6.70%
1 Year Open 4.45%
*Rates subject to change and OAC
AGENT LICENSE ID
M14000545
BROKERAGE LICENSE ID
12993
Tristan Kirk Principal Broker | Managing Partner

Tristan Kirk

Principal Broker | Managing Partner


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Address:
30 St Patrick Street 4th Floor, Toronto, Ontario

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Citadel Mortgages is your COMPLETE SOLUTION for all of your mortgage needs. Our complete mortgage solution programs are perfect for anyone looking to buy a new home, refinance, obtain a second mortgage, consolidate debts, access the equity in your home or are self – employed.

See the Difference for Yourself, Get Approved Today !

 

 

The Citadel Mortgage Social Awareness Program

Citadel Mortgages believes in supporting our community and the people that need our support. That is why once your mortgage closes we will make a donation to a charity or foundation on your behalf of your choice !

If you do not have a charity or foundation you would like to donate to you can choose any one of the foundations we support !

When your mortgage closes we give back to the community, lets make a difference together !

 

We Have Partnered With Forest Farmer !

 

For those of you familiar with Citadel Mortgages, you know that environmental sustainability is at the top of our check list when it comes to our business practices. That’s why for every mortgage closed with Citadel Mortgages, we plant a tree in your name to support Canadian forest restoration. This initiative started in 2018 when we partnered with Forest Farmer™, a Canadian company that strives to address climate change and restore habitat through Corporate Social Responsibility and planting trees.

 


See the Difference for Yourself, Get Approved Today !

attain Mortgage

More than just Mortgages. We can help you build your future.

attain Mortgage

More than just Mortgages. We can help you build your future.

BLOG / NEWS Updates

Minister Morneau announces new benchmark rate for qualifying insured mortgages

For many Canadians, their home is the most important investment they will make in their lifetime. That is why the Government of Canada has introduced measures to help more Canadians achieve their housing needs while also taking measured actions to contain risks in the housing market. A stable and healthy housing market is part of a strong economy, which is vital to building and supporting a strong middle class. Today, Minister of Finance, Bill Morneau, announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the stress test. These changes will come into effect on April 6, 2020. The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%. This follows a recent review by federal financial agencies which concluded that the minimum qualifying rate should be more dynamic to better reflect the evolution of market conditions. Overall, the review concluded that mortgage standards are working to ensure that home buyers are able to afford their homes even if interest rates rise, incomes change, or families are faced with unforeseen expenses. This adjustment to the stress test will allow it to be more representative of the mortgage rates offered by lenders and more responsive to market conditions. The Office of the Superintendent of Financial Institutions (OSFI) also announced today that it is considering the same new benchmark rate to determine the minimum qualifying rate for uninsured mortgages. OSFI is seeking input from interested stakeholders on this proposal before March 17, 2020.

The Contagion of Fear

Fears of a possible coronavirus pandemic are sweeping the world. Markets are jittery with little hard data to go on. With the first case now reported in Canada, many are recalling the 2003 SARS where Canada was one of the epicenters. Arguably the biggest (economic) lesson from that experience is that fear is the biggest risk to the outlook. The impact of the SARS pandemic on the Canadian economy is difficult to estimate, confounded as it was by the slowing US economy, the invasion of Iraq and other events, but the Bank of Canada estimated -0.6ppt hit to annualized growth in Q2-2003, or just over 0.1% on the level of GDP. While it is premature to predict the path of todays coronavirus outbreak, we estimate that a SARS-equivalent pandemic today could have a similar impact on the Canadian economy with an estimated hit of just over 0.1% on the level of GDP by mid-2020, at which point a pandemic should be contained. This estimate is subject to a significant degree of uncertainty with risks skewed to a potentially larger impact. The effect should not be significant enough to trigger a broader economic malaise, but could this finally push Governor Poloz over the line to proactively stimulate the economy in his next rate call? Source: https://www.scotiabank.com/content/dam/scotiabank/sub-brands/scotiabank-economics/english/documents/insights-views/2020-01-27_IV.pdf

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