HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM

My Rates

1 Year 6.04%
2 Years 5.49%
3 Years 4.89%
4 Years 4.64%
5 Years 4.59%
7 Years 5.79%
10 Years 5.89%
*Rates subject to change and OAC
AGENT LICENSE ID
11031
BROKERAGE LICENSE ID
11031
Verico Equity Plus Mortgages Inc. Mortgage Brokerage

Verico Equity Plus Mortgages Inc.

Mortgage Brokerage


Phone:
Address:
110-3005 Marentette Ave., Windsor, Ontario

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Welcome!

Thanks for visiting our website. At Verico Equity Plus Mortgages, our philosophy is simple; to be the best we can be in servicing your needs. We believe that our customers come first; it is not just a cliché but a commitment we make to all our past and future customers. 

To be successful in business, it takes a winning combination of services, competitive pricing and dedication by all employees to excel at customer service excellence. Our continued growth is testament to our pledge to provide you with products of the highest quality and unmatched customer service; we have built our reputation on this belief. 

We encourage you to look around our site and see what we have to offer. If you don’t see what you are looking for, call us at 519-258-6888 and we will be happy to discuss your needs. 

 

IF YOU ARE USING A MOBILE DEVICE, PLEASE FEEL FREE TO GO TO OUR MOBILE FRIENDLY WEBSITE! JUST CLICK ON THIS LINK - MOBILE LINK

 

WANT TO KNOW THE VALUE OF A MORTGAGE BROKER? WATCH THIS VIDEO BELOW


Verico Equity Plus Mortgages Inc. is a BBB Accredited Mortgage Broker in Windsor, ON


BLOG / NEWS Updates

Canada: Prices still down in February

From National Bank of Canada The Teranet-National Bank Index continued to decline in February so that the cumulative decline in prices since their peak in May 2022 totaled 11.2%, the largest contraction in the index ever recorded. The current decline in prices has even surpassed the 9.2% loss in value that occurred during the 2008 financial crisis. With the Bank of Canada expected to keep its policy rate in restrictive territory well into 2023 and mortgage rates remaining high, we believe that the impact on property prices should continue to be felt in the coming months. All in all, we still anticipate a total correction of about 15% nationally by the end of 2023, but this assumes that policy rate hikes are over and declines begin at year-end. Although corrections are being seen in all markets covered by the index, the CMAs that have seen the largest price growth over the past two years are also those that have seen the largest declines to date. Ontario, British Columbia and the Maritimes thus appear to be more vulnerable, while the Prairie markets are less vulnerable, as affordability issues are less acute. HIGHLIGHTS: The Teranet-National Bank Composite National House Price Index decreased by 0.5% in February compared to the previous month and after seasonal adjustment, the tenth consecutive monthly decrease. After seasonal adjustment, 7 of the 11 markets in the composite index were down during the month: Toronto (-2.7%), Calgary (-2.4%), Halifax (-1.8%). Edmonton (-0.8%), Hamilton (-0.3%), Montreal (-0.3%) and Ottawa-Gatineau (-0.2%). Conversely, prices increased in Vancouver (+3.8%), Victoria (+1.9%) and Quebec City (+0.1%), while they remained stable in Winnipeg. From February 2022 to February 2023, the composite index decreased by 4.7%, the second consecutive month in which the annual change in the index was in negative territory. Price increases in Calgary (8.8%), Quebec (5.0%). Edmonton (1.9%) and Montreal (0.8%) were entirely offset by decreases in Victoria (-1.4%), Ottawa-Gatineau (-2.3%), Winnipeg (-2.7%), Halifax (-3.2%), Vancouver (-3.9%), Toronto (-8.8%), and Hamilton (-14.0%). https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/economic-news-teranet.pdf

Housing affordability: First improvement in over 2 years

For the first time in 9 quarters, housing affordability improved in Canada. Not only was it the largest improvement in over 3 years, but it also ended the longest sequence of declining home affordability since the 1986-89 episode. Still, that is not to say that the median home is now affordable in Canada as the mortgage payment as a percentage of income (MPPI) registered at 64.6%, the second highest level since 1981. Feeding into the refinement, home prices declined for a second consecutive quarter and did so at the fastest pace since 1990. Although our 5-year benchmark mortgage rate used to calculate affordability rose by 17 bps in the fourth quarter, that was more than compensated for by falling prices and still rising incomes. The slight rise in rates nonetheless brought the benchmark rate to its highest level since 2008. Preliminary data for the first quarter of 2023 as well as our outlook for monetary policy in Canada suggest that we may be peaking in terms of mortgage interest rates. The current level for interest rates is restrictive and signals that home price declines are not over yet. Moreover, incoming data for the first quarter of 2023 confirms that prices have weakened while resale market data from CREA indicates that sales have significantly declined with listings concurrently increasing. Given our view for further declines in home price and decreasing mortgage rates, we expect affordability to improve in the coming quarters. HIGHLIGHTS: Canadian housing affordability improved for the first time in 9 quarters in Q422. The mortgage payment on a representative home as a percentage of income (MPPI) declined 2.1 points, a pullback from the 4.0-point increase in Q322. Seasonally adjusted home prices decreased 3.9% in Q422 from Q322; the benchmark mortgage rate (5-year term) rose 17 bps, while median household income rose 1.0%. Affordability improved in 8 of the ten markets covered in Q4. On a sliding scale of markets from best improvement to deterioration: Victoria, Hamilton, Toronto, Vancouver, Ottawa-Gatineau, Montreal, Winnipeg, Quebec, Edmonton, Calgary. This was the first time in 9 quarters that a majority of markets improved. Countrywide, affordability improved 0.6 pp in the condo portion vs. a 2.9 pp improvement in the non-condo segment. https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/housing-affordability.pdf

MY LENDERS

TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
Merix Equitable Bank RFA CMLS ICICI Bank Manulife
Haventree Bank HomeEquity Bank Lifecycle Mortgage Sequence Wealth One Fisgard Capital
Optimum Bridgewater Marathon Mortgages Vault