The mortgage process can be intimidating. Navigating amortization, compounding factor, pre-payment privileges, substantially different methods of payout penalty calculations and the cumbersome documentation process can have your head spinning. For 18 years I have been simplifying the process. I have helped over 3000 families enjoy a net savings of more than 3 Million Dollars.
I have access to mortgage products from multiple lenders, and I work with you to determine the best product that will fit your immediate financial needs and future goals. Mortgages are not created equally.
I am a member of the VERICO MORTGAGE BROKER NETWORK, 5 time winner of Canada's Mortgage Company of the year. Being part of Canada's largest Mortgage company allows for access to unbeatable pricing and technology, but being locally operated allows us to be personal and understand the local market and your needs. Never before has experience mattered so much. Mortgage rule changes, government intervention and shifting markets have made mortgages very complex.
I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal or additional purchase. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the Mortgage Planner who can help you get the right financing, from the right lender, at the right rate.
I have only 3 days to get this done!
12 days into a 14 day financing condition I received a text from a Realtor... Can you take a call right now?
That call was about a young client who had been pre-approved by her bank 3 months earlier yet when it came time to get the file completed they could not help her. 2 things were very alarming: 1) they had pre-approved her for nearly $100 000 more than she purchased the home for, 2) they had been avoiding her inquiries into why she was not hearing from them.
I suppose there was one other thing that was a bit alarming, and that was the interest rate they had pre-approved her for and the fact that they didnt use the correct calculations on her CMHC insurance premiums. At the time this wasnt really an issue as there really wasnt an approval in place in the first place.
Fast forward 3 days (yes we needed a short extension as there was no way to get the file completed in just the 2 days remaining on the original condition period) and the file was completed. The file required a lot of supporting documentation from the client in order for me to build a strong case for an approval. Working with a lender that was focused on finding solutions rather than working inside a small box of policies was going to be important. One of the very important things to understand in this industry is that mortgages are not created equally and that my relationships with lenders and underwriters play a significant role in getting files funded.
As we get ready to enjoy Easter with friends and family I am humbled by the fact we were able to see this one through. We were able to get this young lady and her daughter into her home (she takes possession next week). We were able to satisfy the needs of a seller whom we dont even know, Realtors on both sides have a saved/completed deal, Solicitors on both sides have a file to work on. There are a lot of people involved in a transaction and when we can pull that together it is a wonderful feeling.
If you are in a similar situation I would be honoured to help you and your family. I am days away from completing my 3000th mortgage and each one brings the sum of savings well north of 2 million dollars.
P.S. We calculated her CMHC premium correctly, and I was able to secure a rate that was .55% lower than her original pre-approval. This is going to save her thousands of dollars over the life of he mortgage. What a great way to head into home ownership.
Bank of Canada maintains overnight rate target at 1 ¾ percent
The Bank of Canada today maintained its target for the overnight rate at 1 percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 percent.
The Banks October projection for global economic growth appears to be intact. There is nascent evidence that the global economy is stabilizing, with growth still expected to edge higher over the next couple of years. Financial markets have been supported by central bank actions and waning recession concerns, while being buffeted by news on the trade front. Indeed, ongoing trade conflicts and related uncertainty are still weighing on global economic activity, and remain the biggest source of risk to the outlook. In this context, commodity prices and the Canadian dollar have remained relatively stable.
Growth in Canada slowed in the third quarter of 2019 to 1.3 percent, as expected. Consumer spending expanded moderately, underpinned by stronger wage growth. Housing investment was also a source of strength, supported by population growth and low mortgage rates. The Bank continues to monitor the evolution of financial vulnerabilities related to the household sector. As expected, exports contracted, driven by non-energy commodities. However, investment spending unexpectedly showed strong growth, notably in transportation equipment and engineering projects. The Bank will be assessing the extent to which this points to renewed momentum in investment.
CPI inflation in Canada remains at target, and measures of core inflation are around 2 percent, consistent with an economy operating near capacity. Inflation will increase temporarily in the coming months due to year-over-year movements in gasoline prices. The Bank continues to expect inflation to track close to the 2 percent target over the next two years.
Based on developments since October, Governing Council judges it appropriate to maintain the current level of the overnight rate target. Future interest rate decisions will be guided by the Banks continuing assessment of the adverse impact of trade conflicts against the sources of resilience in the Canadian economy notably consumer spending and housing activity. Fiscal policy developments will also figure into the Banks updated outlook in January.
Gross domestic product, income and expenditure, third quarter 2019
Real gross domestic product (GDP) grew 0.3%, following a 0.9% increase in the second quarter. Third quarter growth was led by higher business investment and increased household spending, boosting final domestic demand by 0.8%.
Expressed at an annualized rate, real GDP advanced 1.3% in the third quarter. In comparison, real GDP in the United States grew 1.9%.
Business investment rose 2.6% in the third quarter, the fastest pace since the fourth quarter of 2017. Growth in household spending accelerated to 0.4%, after rising 0.1% in the second quarter. These increases were moderated by a 0.4% decline in exports, while imports were flat.
Non-farm business inventories were drawn down by $550 million in the third quarter, and the economy-wide stock-to-sales ratio hovered at 0.84. Cannabis inventories contributed to the $4.9 billion accumulation of farm inventories.
Housing investment accelerates
Housing investment rose 3.2%, the fastest pace since the first quarter of 2012. The increase was driven by both new home construction (+3.3%)mostly single-detached homes in Ontarioand higher ownership transfer costs (+8.7%) from increased resale activities in British Columbia and Ontario.