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My Rates

6 Months 3.30%
1 Year 3.59%
2 Years 3.32%
3 Years 2.84%
4 Years 3.24%
5 Years 2.89%
7 Years 3.44%
10 Years 3.49%
6 Months Open 6.70%
1 Year Open 3.95%
*Rates subject to change and OAC
Dean Garrett Mortgage Professional

Dean Garrett

Mortgage Professional


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211C 750 Comox Rd, Courtenay, British Columbia

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Welcome to my website!

I am proud to have served clients for more than 9 years now. Many of my clients were not sure if they needed to use my services as a Mortgage Professional, but once they experienced how this helped them with their Home Buying/Re-Financing project, they are happy they did. Mortgages are deceptively simple and endlessly complicated. You can only choose when you have a choice and have been fully informed. Many great Bank Specialists are providing service to their clients, but they can only offer their Banks solutions. As an independent professional, I work for you by informing you on all things mortgage, including who will be your Best Lender. My services are FREE (with OAC) to my clients. The lenders compensate my business to provide them a qualified Client.
I look forward to assisting YOU.


BLOG / NEWS Updates

Residential Market Commentary - Bank of Canada pulls up a seat on the sidelines

Apr 29, 2019 Be the expert First National Financial LP As expected the Bank of Canada has, once again, moved to the sidelines when it comes to interest rate policy. This time, though, the bankers appear to have unfolded their lawn chairs, taken a seat and put their feet up; settling-in for an extended period of inactivity. The central banks benchmark policy rate was left unchanged at 1.75% during last weeks setting. More significantly, the Bank made a small change in wording to its Monetary Policy Report that sends a big message. It eliminated references to the need for future interest rate hikes, signalling it has shifted to a wait-and-see status. Many market watchers do not expect any rate increases (or decreases) until early 2020. So what would it take for the Bank of Canada to get back in the game? It would have been something drastic, like a sudden jump in inflation or a rapid drop in employment. Right now, though, the Bank finds itself somewhat boxed-in. Inflation is showing some signs of increasing, but not enough to justify interest rate intervention. Canadian household debt is climbing back into record territory and higher rates would only compound that problem. The BoC has to pay attention to what the U.S. Federal Reserve is doing, and right now there is little political appetite for rate increases in the United States. As well, the election cycle is heating up in both the U.S. and Canada and central banks are loath to make any moves that could be seen as giving advantage to any side in an election campaign.

Rate hike weakens over the horizon

Apr 22, 2019 First National Financial LP The likelihood of a Bank of Canada interest rate increase appears to be getting pushed further and further beyond the horizon. The Bank is expected to remain on the sidelines again this week when it makes its scheduled rate announcement on Wednesday. A recent survey by Reuters suggests economists have had a significant change of heart about the Banks plans. Just last month forecasters were calling for a quarter-point increase in the third quarter with another hike next year. Now the betting is for no change until early 2020. There is virtually no expectation there will any rate cut before the end of next year. The findings put the Bank of Canada in line with the U.S. Federal Reserve and other major central banks. World economies have hit a soft spot largely due to trade uncertainties between China and the United States. Canada is also being affected by depressed oil prices and a slowdown in the housing market. Market watchers will be paying close attention to the Monetary Policy Report that comes with this weeks BoC rate setting. Realtors and mortgage lenders have been pressuring for some loosening of the B20 stress test to allow some life back into the market. The odds are against the Bank advocating for any easing. Canadian households are still carrying record high debt loads and there are growing expectations of a recession within the next two years.

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