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My Rates

6 Months 3.34%
1 Year 3.19%
2 Years 3.19%
3 Years 2.96%
4 Years 3.34%
5 Years 3.19%
7 Years 4.24%
10 Years 4.39%
6 Months Open 6.70%
1 Year Open 4.45%
*Rates subject to change and OAC
AGENT LICENSE ID
MW-1111320
BROKERAGE LICENSE ID
MW111229
Michelle Lapierre Mortgage Associate

Michelle Lapierre

Mortgage Associate


Phone:
Address:
213, 4935 55 Ave. NW, Edmonton, Alberta

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Home ownership is one of the most important and complex decisions you will ever make.  The key to making the right decision is to fully understand your financing options.  My role is to be your unbiased and expert advisor.  I will provide you with access to the best mortgage solutions in the industry.  This means the most competitive rates and terms that fit your specific needs and long term goals. 

 

My services are free and can provide you with a positive, stress free experience so you can focus on the bigger picture - finding your dream home and achieving financial security.

 

Let's start the conversation today!

Thinking about purchasing a home?  Is your mortgage renewal coming up?  Need to refinance?  I can find a solution for you.


BLOG / NEWS Updates

Benefits Of A Buyer's Market - Don't Miss An Opportunity

You may have seen For Sale signs lingering on your neighbors lawn, lower values on your property tax assessments, or maybe you have even experienced difficulty selling your own house. Our Edmonton real estate market has been seeing the impact of a slow economic recovery from the Alberta recession from 2015 and the impact of tougher mortgage lending requirements. Lending on insured mortgages changed drastically in the fall of 2016, and the lending market tightened again in January 2018 with stricter requirements on how residential mortgages need to be underwritten, along with a stress test for conventional mortgages. All of this has added up to a challenging real estate market in Edmonton and area, and really for most of Canada. But in this environment, there is an upside for buyers looking to enter the market. Benefits Of A Buyers Market Whenever a market is seeing this type of downward pressure, consumer confidence takes a hit and people pull back from what they perceive as risk. In reality, times like this can be a fantastic time to enter the market: More Bang For Your Buck - With property values slipping down, you get more value for your dollar. This is particularly true at higher property prices. You may get less for the property you sell but you are getting that discount and MORE at higher values in a move-up. Low Interest Rates - A benefit of a weaker Canadian economy has been a reprieve from the increasing rates we saw over the last 18 months. Interest rates have continued to slip down from where they were this fall and winter, making mortgage payments more affordable again. Less Pressure - When the market is hot, you feel much more pressure as properties sell faster and you need to make decisions to write offers quicker. There is also a push to shorten the time you have for financing and home inspection. In a slower market these pressures lessen, giving buyers more time to make a good decision and prevent buyers remorse later. More Choice - Although listings are currently down from their peaks last year, they are still high. And, we will likely see them move higher as we move into spring. This increase in listings provides buyers with a greater selection and higher likelihood of finding a property that meets your needs. NOTE: I have had 3 clients experience multiple offers in the last 2 weeks. Even in a buyers market, a property that is well prepared for sale, in a popular location, and listed at a fair price WILL get attention. Is This Bottom? The answer is: we dont know. In any market down turn, we do not know what bottom is until we are on the other side of a decrease and prices have already climbed back up again. And guess what, at that point you have often missed the best opportunities. When Is The Right Time? The right time is a lot more about what is happening with you than what is happening in the market. If you are financially prepared to buy a property, are buying within your affordability, and are purchasing something for the long term, consider the benefits of buying in a market with these types of opportunities. I am always happy to complete a mortgage review, discuss your mortgage options, and help you plan for your purchase goals.

Payment Frequency And Interest Costs - What You Can Save

There is a commonly held belief that that increasing the frequency of your mortgage payments pays your mortgage off significantly faster. For example, paying bi-weekly versus monthly will allow for much faster mortgage paydown. This all stems from confusion around the fact that there are two types of payments - regular and accelerated. Here are the definitions of the various payment frequencies and an example of the impact of payment frequency on interest costs. Payment Frequency Options Monthly - one payment per month; 12 payments per year Semi-Monthly - Monthly payment x 12 / 24 (or half the monthly payment); two payments per month; 24 payments per year Bi-Weekly - Monthly Payment x 12 / 26; payments every two weeks; 26 payments per year Accelerated Bi-Weekly - Monthly Payment x 13 / 26; payments every two weeks; 26 payments per year Weekly - Monthly Payment x 12 / 52; payments every week; 52 payments per year Accelerated Weekly - Monthly Payment x 13 / 52 payments every week; 52 payments per year Interest Savings By Payment Frequency Lets break out the total interest savings over 25 years for each payment frequency versus the base required monthly payment. This is for a mortgage of $300,000 amortized over 25 years at 4%. This is a bit simplistic because it does not take into account the varying terms and rates within the life of a mortgage, but it will still illustrate how much payment frequency drives interest savings. Monthly payment = $1578 ($173,420 interest paid over the life of the mortgage...GULP) Semi-Monthly payment = $789; interest savings $390 Bi-Weekly payment = $728; interest savings$420 Accelerated Bi-Weekly payment = $789; interest savings $24,550 and mortgage paid off 3 years 1 month early Weekly payment = $364; interest savings$605 Accelerated Weekly payment = $395; interest savings $24,820 and mortgage paid off 3 years 1 month early While there is a slight benefit to paying more frequently this is a very minor amount. The amount you pay extra, above your base mortgage amount, is what has the big impact. This can be done by setting your mortgage payments to be accelerated, or by using other pre-payment options such as lump sum payments or by calling to increase your payment. You shorten your mortgage and save significant interest costs by increasing your mortgage payments, not by paying more frequently. If you have goals for paying off your mortgage faster, lets come up with a plan! Small amounts over time add up to a big impact later.

MY LENDERS

TD Bank Scotia Bank Attain Mortgage First National MCAP B2B Bank
Home Trust Merix Equitable Bank Street Capital CMLS Fisgard Capital
ICICI Bank Optimum  RMG Mortgages Bridgewater Marathon Mortgages