20 Apr

Preparing for a Pre-Approval

Mortgage Tips

Posted by: Emily Riddell

Process in the Paperwork. Documents Required to Qualify for a Mortgage Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and stress! Getting your mortgage pre-approved is part of this prep-process, and will make things easy in the long run. In order to get pre-approved, the […]

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22 Mar

Borrowing Against your Home Equity to Invest

General

Posted by: Emily Riddell

For most, a paid off home is a lifetime ambition that represents financial freedom. For others, all that untapped equity is dead money. If you’re in the minority of homeowners who are disciplined with investments, financially secure, risk tolerant and don’t rely on home equity for retirement, a paid off home can work against you. […]

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2 Mar

Bank of Canada Increases Benchmark Interest Rate

General

Posted by: Emily Riddell

The BoC announced a rate increase as well as addressed how global conflicts can affect the Canadian economy. Today, in its second scheduled policy decision of 2022, the Bank of Canada made good on its pledge to increase interest rates in the face of higher inflation. For the first time since the pandemic began to […]

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18 Feb

Preparing for a Mortgage Application

Mortgage Tips

Posted by: Emily Riddell

Planning for a mortgage. What you need to know and why a Mortgage Professional can help! When it comes to mortgages, there can be a lot to know! Do you go with a fixed-rate mortgage or a variable-rate? What are the terms? What are the penalties? Which is the best payment frequency? Rate is only […]

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16 Feb

Canadian Inflation Rose Again in January to 5.1%

General

Posted by: Emily Riddell

Canadian Inflation Rose Again in January to 5.1% y/y, Pressuring The Bank of Canada to Hike Rates in March. Inflation Ticked Up Again in January   StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected but still well below […]

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4 Feb

Canada loses 200,000 jobs in January

General

Posted by: Emily Riddell

Major Setback in Canada’s January Employment Report Chief Economist Dr. Sherry Cooper shares her thoughts on what this report could mean for Canadians and the rising interest rate. Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions […]

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27 Jan

Bank Will Hike Rates At Next Meeting – March 2, 2022

General

Posted by: Emily Riddell

No rate hike until March – Bank of Canada assures inflation will return to 2% over 2023-2024. Bank Will Hike Rates At Next Meeting – Mar 2, 2022 Written by: Dr. Sherry Cooper, Cheif Economist DLC While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view […]

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25 Jan

Renting Vs. Buying: What You Need to Know!

General

Posted by: Emily Riddell

There are pros and cons to both, it’s important to know your options! Renting Vs. Buying: What You Need to Know! When it comes to the Canadian housing market, there are lots of options for where to live! From renting an apartment to owning a single-family home, it all comes down to where you see […]

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29 Jul

Understanding What the Lending Criteria Is – The Five C’s of Credit

General

Posted by: Emily Riddell

What do lenders look for when applying for a mortgage? Financial institutions will perform a credit analysis on individuals and businesses applying for a mortgage. This process involves reviewing five key factors that help predict the probability of the borrower defaulting on their loan. The five factors that are reviewed are referred to as the […]

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1 Dec

It’s All About The Property

General

Posted by: Emily Riddell

It’s All About The Property. When your mortgage application goes through the approval process, they are not only looking at you, but also the property in question. In fact, sometimes when an application is denied it has nothing to do with you, and everything to do with the property. To improve your chances of success […]

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