It PAYS to shop around.
Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.
The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.
But I’m here to help!
I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.
I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.
VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.
I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.
Darcie B: I had an excellent experience with Shelley. She was knowledgable, informative, efficient, and easy to contact. I am happy with my mortgage and would recommend Shelley to family and friends.
Dave M: I was completely satisfied with Shelley’s expertise, knowledge, and know that our best interests were of primary importance to her. I would recommend her to family and friends. I appreciated how she researched our requirements, provided us options, and explained those options to us in a very understandable way.
Judith V: We are happily settling into our new home and we really can’t thank Shelley enough for helping us navigate such a crazy, hectic time. Shelley is well knowledgeable of the available products and processes and if she isn’t sure, she always spends the time to do the research. We appreciate that she gives us all the options available to us and is very honest, even if it means that we won’t be able to use her services at that time. We have never felt like she was trying to sell us something for the sake of selling us something. Her friendly, approachable personality makes us feel like one of the family. Shelley has taken care of our family for a number of years and we will continue to be her clients for the duration of her career. We are very fortunate to have Shelley working for us.
Margaret M: I was completely satisfied with Shelley’s service. She kept me well informed throughout the whole process and handled everything; I just showed up and signed paperwork. Shelley was very professional, knowledgeable and had my best interests in mind. I would not hesitate to recommend Shelley and her services to one and all!
Suzanne M: I was completely satisfied with every aspect of Shelley’s services and appreciate how she met all my needs!
Michael P: Overall, we were completely satisfied with Shelley’s services and would not hesitate to recommend her. She was able to get financing in place when others could not.
K Friesen: Shelley clearly understood and met our needs. We have no hesitation in recommending Shelley. She assured us that we were set up in a strong financial standing to go through the process of building, and ultimately has our dream house build in progress! Shelley was amazing and handled everything extremely fast!
Zaneta O: Shelley was able to get me the house I really wanted and exceeded my expectation in all that she did for me. I highly recommend her!
A New Year-Time for a Mortgage Check Up?
The new year is a time for making personal resolutions, writing business plans, evaluating your involvement in memberships and affiliations, and getting back on track with health and fitness. It is also a great time to book a mortgage checkup, and make sure your mortgage is working for you the way it should be.
How do you know if a mortgage checkup will benefit you? Heres a few questions to ask yourself. If the answer is yes to one or more, then its time to book an appointment with your mortgage professional:
Is my mortgage renewing this year?
In our constantly changing mortgage environment, earlier contact regular communication is always better. Keep your mortgage professional up to date on your current situation and plans moving forward so she/he can work ahead and ensure you are in the best situation for your next mortgage term.
Am I considering buying a new home, cottage or investment property this year?
Fully underwritten mortgage pre-approvals with interest rate holds are more important than ever when considering a new purchase this year, even for well qualified applicants.
What is the best source of funds to complete my home renovations/upgrades?
Cash savings, secured or unsecured lines of credit, mortgage refinance, personal loan-your mortgage professional can advise your best, lowest cost options.
How can I be mortgage free faster?
An annual mortgage review can track your progress and encourage you to make small changes that can save thousands of dollars. Your mortgage professional can play an integral part in your plan to pay off your mortgage.
How can I eliminate or reduce higher interest debt?
A review of your assets, debt, costs and cash flow can allow your mortgage professional to help with a plan to pay down debt and reduce costs with manageable monthly cash flow.
Life changes have occurred-is my current mortgage still the best fit?
Your current mortgage may no longer be the best fit if youve experienced a major life change. Even if your mortgage is still mid-term and not up for renewal, youll benefit from a visit with your mortgage professional to update your details, discuss options and formulate a plan moving forward.
Is there a better, lower cost mortgage option in the market that I qualify for?
Your mortgage professional can compare the costs of your current mortgage with what is available today (even mid mortgage term) and advise if its in your best interest to make changes. She/he can also provide peace of mind when you are currently in the best, lowest cost product in the market.
Should I consider locking in my variable rate mortgage?
If you are in a variable rate mortgage product, its important to keep in touch with your mortgage professional on a regular basis and have a plan moving forward in the event of rising mortgage rates.
How do I reduce/improve monthly cash flow?
A review of your assets and debts can allow your mortgage professional to help with a plan to ensure your monthly cash flow is manageable.
In 2018, you have the benefit of choice. Even if youve had a long-term relationship with a financial institution, seek others, get more opinions and be open to other options. Get good advice from someone you like and trust. Look ahead and start early.
For a free, no obligation mortgage checkup, please contact me by phone @ 204-479-6064 or email @ email@example.com.
Similar Housing Demand Conditions in Canada and US
Housing markets in Canada and the US are sizzling. Recent headlines have used superlatives to describe housing market conditions in both countries and the data do back this up. Still, a closer look reveals some interesting distinctions as well. Home price and sales metrics show that while the US market is hot, Canadas is hotter. For example, existing home sales, which make up the majority of overall sales in both countries, is well above historical averages, but Canadian home sales have outperformed. As of March 2021, home sales in Canada were 75% higher than the average over 2018 and 2019, while it was 13% above in the US. Likewise, home prices also spiked. In Canada, the average home sold was 32% more expensive than what it was a year ago, and it was 17% higher stateside.
From a high level, the list of commonalties across markets during the pandemic is longer than the areas of difference, particularly on the demand side. Perhaps the most influential demand-side driver has been historically low mortgage rates. Responding to the impacts of the pandemic, the Bank of Canada and the Federal Reserve slashed rates and enacted large quantitative easing programs early last year, resulting in a sharp drop in borrowing costs. Given that the US conventional mortgage rate is a 30-year rate compared to Canadas 5-year benchmark, borrowing costs fell faster in America as flight to safety flows lowered longer term yields at the onset of the pandemic.
CANADA HOUSING MARKET and new stress test
Canadian home sales took a turn in April 2021, declining by 12.5% (sa m/m) from the highest level on record in March 2021. Listings followed suit, falling by 5.4% (sa m/m). While both sales and listings decreased in April, the smaller decline in listings further eased the national-level sales-to-new listings to 75.2% from record high readings earlier this year (the highest being 91% in January). While this is a move in the right direction towards a better supply-demand balance, the ratio is still significantly higher than its long-term average of 54.5%. As a result of this persistent tightness in the housing market, the composite MLS Home Price Index (HPI) rose by 2.4% (sa m/m). This is a deceleration in price gains from paces observed over the last two months, owing in the most part to a slowing in prices for single-family homes and townhouses. Apartments, which had remained relatively close to pre-pandemic levels before accelerating earlier this year have maintained momentum in April.
Movements in the housing market this month continued to be broad-based rather than market-specific, as declines in sales were spread out across much of the country.
The Office of the Superintendent of Financial Institutions (OSFI) also announced that, effective June 1, the minimum qualifying rate for uninsured mortgages (i.e., residential mortgages with a down payment of 20 percent or more) will be the greater of the mortgage contract rate plus 2 percent or 5.25 percent.