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My Rates

6 Months 7.94%
1 Year 6.99%
2 Years 5.54%
3 Years 5.76%
4 Years 5.67%
5 Years 5.09%
7 Years 6.24%
10 Years 6.29%
6 Months Open 9.75%
1 Year Open 8.00%
*Rates subject to change and OAC
AGENT LICENSE ID
M13002164
BROKERAGE LICENSE ID
11995
Daniel Char, AMP Mortgage Broker

Daniel Char, AMP

Mortgage Broker


Phone:
Address:
201-10815 Yonge St., Richmond Hill, Ontario

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Are you currently buying a new  home? Moving? Or wanting to pay down your debts? Looking for the right mortgage is a daunting task. Banks are currently tightening up their lending criteria and it is becoming virtually impossible to get a decent rate for your financing needs without being cross sold a multiple of unwanted products or services like credit cards, line of credits and insurance.


Are you Self-employed? Have bad credit? Talk to a licensed mortgage agent today to find out how you can still own your dream home and still pay down high interest debts.  I work with over 40 lenders to negotiate the best rates on your behalf. Remember, I work for YOU, NOT the Lenders!  


Please take the time to browse my website.  Take a look at the services that I offer and how to get in contact with me. We also have mortgage tools on the left to assist you to calculate what you can afford and how much your mortgage amount will be.  
Click “arrange a call back” or email me directly if you have any questions. My goal is to make the transition to your new home as smooth as possible and assist you in achieving your financial goals.


Don't forget to bookmark this website as I update the content continuously to make sure my clients are up to date with information and tools. I am active on social media, so don't forget to follow me on Linkedin, Facebook, Twitter, and my Blog!

 

 


BLOG / NEWS Updates

Scotiabank Nowcast: Employment Gains Continued Prior to Omicron Spread, Q4-2021 GDP at 6.22%

This note is part of a series that will be published after important data releases, documenting mechanical updates of the nowcast for Canadian GDP coming from the Scotiabank nowcasting model. The evolution of this nowcast will inform Scotiabank Economics official macroeconomic outlook. The Canadian labour market continued to power ahead in December according to Statistics Canadas labour force survey (LFS), with the net gain of +55K jobs for the month that brought the unemployment rate down to 5.9%, just 0.2 ppts above the level of February 2020. This bodes well for the overall Canadian GDP growth in December and is in line with our Q4-2021 estimate of +6.22% Q/Q SAAR. The timing of the survey (December 5 to 11) means that it largely missed the beginning of the spread of the Omicron variant and the late-December tightening in public health measures that occurred in response to it. The flooding in BC, a source of downside risk to the short term outlook, occurred after the LFS was completed in November. In December, however, the LFS picked up the beginning of the reconstruction phase, according to StatCan. As a result, we are not likely to find out the true impact of this disaster on the labour market until the November survey of employment, payrolls and hours (SEPH) is released in late January. With these caveats, the underlying picture of the labour market in Canada is one of continuing recovery. The ratio of employment to population (61.5%), the labour force participation rate (65.3%), the unemployment rate (5.9%) are all within 0.2 0.3 ppts of their respective February 2020 levels, signalling a rapid diminishing of the labour market slack. Even the ranks of those unemployed for 52 weeks or longer, while still significantly elevated at 293K (Feb 2020: 179K), continued to fall rapidly in December. The tightness in the labour market spurred a recovery in wages, which grew 2.7% y/y in December, although this increase was much weaker than the rate of inflation over the same period. While the spread of the Omicron variant will likely lead to short term weakness in employment, in particular in the high-contact industries that are subject to public health restrictions, it is already exacerbating labour shortages in essential services as scores of employees self-isolate having tested positive for the virus. With inflation running significantly above the Bank of Canadas inflation-control target range, the labour market slack essentially gone and wages picking up, the short term impact of the Omicron spread is unlikely to alter the Bank of Canada on its path to higher rates in 2022. Source: Scotiabank Global Economics

OSFI maintains Qualifying rate at mortgage contract rate plus 2 percent or 5.25 percent

The Office of the Superintendent of Financial Institutions (OSFI) confirmed that the minimum qualifying rate for uninsured mortgages will remain the greater of the mortgage contract rate plus 2 percent or 5.25 percent. In an environment characterized by increased household indebtedness and low interest rates, it is essential that lenders test their borrowers to ensure that mortgages can continue to be paid during more adverse conditions. This environment supports todays decision to maintain the current minimum qualifying rate. Mortgages are typically one of the largest exposures that banks carry on their balance sheets. Ensuring that borrowers can continue to repay their mortgage loans strongly contributes to the safety and soundness of Canadas financial system. OSFI reviews and communicates the minimum qualifying rate at least every December. Throughout the year, we will continue to monitor the appropriateness of the minimum qualifying rate and will make further adjustments, if conditions warrant.

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank