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My Rates

6 Months 3.09%
1 Year 1.99%
2 Years 1.99%
3 Years 1.99%
4 Years 1.99%
5 Years 2.09%
7 Years 2.94%
10 Years 3.30%
6 Months Open 5.75%
1 Year Open 3.45%
*Rates subject to change and OAC
AGENT LICENSE ID
M08000964
BROKERAGE LICENSE ID
10460
Margo Wynhofen Mortgage Broker

Margo Wynhofen

Mortgage Broker


Phone:
Address:
7 Livingston Avenue, Grimsby, Ontario

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Call me for today's Unpublished Rate Specials! 

One Mortgage Broker. Many Mortgage Solutions.

Since 1998, I have been providing expert mortgage advice to clients looking to purchase residential real estate, or for the renewal or refinance of an existing residential property mortgage.

Are you looking for the best rate? I am confident that I can secure a great interest rate for you, but, when shopping for a mortgage, the biggest mistake that a consumer can make is to base the decision solely on the interest rate. Yes, the rate is important, but it should not be the only point you base your decision on!

Ask yourself the following questions before you commit to a "great rate" mortgage:

  • What kind of service do I expect to receive from this mortgage lender, and from my mortgage broker, once my mortgage has funded? 
  • How will I be treated at renewal time? Will I be offered competitive pricing then, and if not, how difficult will it be for me to transfer this mortgage to another institution?
  • Do I understand the "fine print" - specifically how the prepayment penalty is calculated? 
  • How difficult will it be to make changes to my mortgage mid-term, such as applying to transfer the mortgage if I need to move to another home, or to make a lump-sum prepayment?
  • If my advisor is a bank employee, limited to offering me bank products, how can I be assured that I am getting the best-available solution for my particular financial situation, and future needs? 

My interest rates may not be that different, however, I am different - a distinction that will ensure you are happy with the solution!

 

 

 



 

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BLOG / NEWS Updates

Two-thirds of Canadians were asset resilient in the year prior to the pandemic

Just over two-thirds (67.1%) of Canadians were asset resilient for at least three months in 2019, up from 63.6% in 1999. Over these two decades, several factors contributed to the overall rate of asset resilience. For one thing, Canadians held more liquid assets at the end of the period. Median person-adjusted household liquid assets rose from $6,300 in 1999 to $10,700 in 2019. Canadians were also slightly older, on averagethe median age of Canadians increased from 36.4 years to 40.8 years. Family income has also been rising since 1999, and asset resilience is associated with higher income. The median person-adjusted, household after-tax income of Canadians increased by one-third (+34.9%), rising from $37,300 in 1999 to $50,300 in 2019, while the share of Canadians below the LIM-AT edged down from 12.4% to 12.1%. source: https://www150.statcan.gc.ca/n1/daily-quotidien/210504/dq210504e-eng.htm

Big jump in home prices in March

The Teranet-National Bank HPI jumped 1.5% to a new high in March, its 17th straight monthly rise. Its recent vigour coincides with historically high numbers of home sales in most regions of Canada, coupled with limited supply. The monthly jump of the unsmoothed HPI was even bigger 2.7%, the most of any month since July 2006, taking the unsmoothed index to a cumulative rise of 11.9% since last June (left chart). The rapid rise of home prices continues in the great majority of large Canadian cities, with prices up 10% or more from a year earlier in an unprecedented 81% of the 32 urban markets surveyed (right chart). However, the magnitude of the price rise varies with category of dwelling. In the main metropolitan markets the rise was much smaller for the condo segment than for single-family homes. Among the reasons for the difference is a shift of preferences away from small dwellings in city centres toward larger homes in suburbs. Source: https://housepriceindex.ca/2021/04/march2021/

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