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AGENT LICENSE ID
M21003884
BROKERAGE LICENSE ID
10349
Patrick Burke Mortgage Agent - Level 1

Patrick Burke

Mortgage Agent - Level 1


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Address:
7676Woodbine Ave Suite 300, Markham, Ontario, L3R 2N2

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Let me guide you through the mortgage process.

 

I’m a VERICO - NORTHWOOD MORTAGE AGENT. I know mortgage financing can be frustrating, but it doesn't have to be. The best place to start is to connect with me directly! I can arrange mortgage pre-approvals, mortgage financing, refinancing or debt consolidation. I have access to over 63 lenders and can offer competitive mortgage rates across Canada. When you work with me you have CHOICES.

 

My commitment is to listen to all your needs, assess your financial situation and outline the best and clearest plan forward. I'll make sure you know exactly  where you stand at all times. I will be here for you today and in the future to help with your mortgage needs.

 

The answers to your questions are just a phone call away.

Pat


BLOG / NEWS Updates

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada on Wednesday held its target for the overnight rate at 5%, with the Bank Rate at 5% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflation in advanced economies has continued to come down, but with measures of core inflation still elevated, major central banks remain focused on restoring price stability. Global growth slowed in the second quarter of 2023, largely reflecting a significant deceleration in China. With ongoing weakness in the property sector undermining confidence, growth prospects in China have diminished. In the United States, growth was stronger than expected, led by robust consumer spending. In Europe, strength in the service sector supported growth, offsetting an ongoing contraction in manufacturing. Global bond yields have risen, reflecting higher real interest rates, and international oil prices are higher than was assumed in the July Monetary Policy Report (MPR). The Canadian economy has entered a period of weaker growth, which is needed to relieve price pressures. Economic growth slowed sharply in the second quarter of 2023, with output contracting by 0.2% at an annualized rate. This reflected a marked weakening in consumption growth and a decline in housing activity, as well as the impact of wildfires in many regions of the country. Household credit growth slowed as the impact of higher rates restrained spending among a wider range of borrowers. Final domestic demand grew by 1% in the second quarter, supported by government spending and a boost to business investment. The tightness in the labour market has continued to ease gradually. However, wage growth has remained around 4% to 5%. Recent CPI data indicate that inflationary pressures remain broad-based. After easing to 2.8% in June, CPI inflation moved up to 3.3% in July, averaging close to 3% in line with the Banks projection. With the recent increase in gasoline prices, CPI inflation is expected to be higher in the near term before easing again. Year-over-year and three-month measures of core inflation are now both running at about 3.5%, indicating there has been little recent downward momentum in underlying inflation. The longer high inflation persists, the greater the risk that elevated inflation becomes entrenched, making it more difficult to restore price stability. https://www.bankofcanada.ca/2023/09/fad-press-release-2023-09-06/

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