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My Rates

6 Months 3.99%
1 Year 1.99%
2 Years 1.99%
3 Years 1.89%
4 Years 1.89%
5 Years 1.59%
7 Years 2.39%
10 Years 2.99%
6 Months Open 6.99%
1 Year Open 6.99%
*Rates subject to change and OAC
Cory McLean Accredited Mortgage Professional

Cory McLean

Accredited Mortgage Professional


Address:
201, 704 5th Avenue South, Lethbridge, Alberta

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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.


BLOG / NEWS Updates

Population in Canada: A Monthly Snapshot

ON TRACK IN SOME AREAS, A BUMPY ROAD AHEAD IN OTHERS Population growth continues to surge. Mays Labour Force Survey data reported a 3.6% (S.A.A.R.) increase in the 15 year old+ population compared to April. This 97,600 increase since the release of last months report maintained the trend of robust population growth through 2024 so far, with the last three months averaging growth of 3.7% (S.A.A.R.). Compared to May of last year, Canadas 15+ population is up by almost 1.1 million. The increase in the labour force population is down by roughly half when compared to Aprils explosive growth numbers, although m/m growth of 3% (S.A.A.R.) is still significantly high, especially when compared to pre-pandemic levels. A quarter of the year recorded, a quarter of the goal reached. Canada admitted another 34,785 permanent residents among its major categories in March, totalling 121,620 admissions for the year so far, approximately 25% of the annual goal of 485,000 the federal government set for 2024. https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.canada-and-us-economics-.economic-commentary.population-growth.-june-10--2024-.html

Further Rate Cuts on the Horizon: Scotiabank’s Forecast Tables

From Scotiabank We expect the Bank of Canada to cut by 25bps at each of the next three meetings. Inflation is on a good downward path though growth in the interest rate-sensitive parts of the economy remains surprisingly strong. Positive risks to the outlook for growth and inflation remain as interest rates come down. We are particularly mindful of the response in real estate markets and household spending. Any materialization of upside risks would imperil future rate cuts. Rate cuts have finally begun in Canada. With inflation hopefully on a sustained downward path despite the interest rate-sensitive parts of our economy performing surprisingly well, it is now clear that the Bank of Canada has decided rate relief is necessary. That is great news for borrowers if the Bank of Canada follows through with additional cuts. We think they will, though we remain concerned about upside risks to inflation given rising wages and falling productivity, the surprising strength in consumption, the serial over-stimulation by the federal and provincial governments, and the potential for a housing market rebound. As a result of the latest decision and the communications around that we are changing our Bank of Canada view and now expect that Governor Macklem will cut the policy rate at each of the next three meetings, for a total of 100bps of cuts this year. https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.global-outlook-and-forecast-tables.scotiabank%27s-forecast-tables.2024.june-6--2024.html

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