Mason Morgan -Dominion Lending Centres

01/24/2023

It’s Refinance season. Reach out to see how I can save you money by paying out your debts using your home equity!

705-279-4400
[email protected]

12/12/2022

It’s that time of year when debts start to pile up. Accessing the equity in your home is a great way to consolidate these debts. Reach out for questions! 705-279-4400

Www.masonmorgan.ca

09/08/2022

Bottom line from DLC's Chief Economist regarding the Bank of Canada rate hike.

"The implications of today’s Bank of Canada action are considerable for the housing market. The prime rate will now quickly rise to 5.45%, increasing the variable mortgage interest rate another 75 bps, which will likely take the qualifying rate to roughly 7%.

Fixed mortgage rates, tied to the 5-year government of Canada bond yield, will also rise, but not nearly as much. We maintain the view that the economy will slow considerably in the second half of this year and through much of 2023. The Bank of Canada will hold the target policy rate at its ultimate high point– at least one or two hikes away– through much of 2023, if not beyond. A return to 2% inflation will not occur until at least 2024, and (as Governor Macklem says) the Bank’s job is not finished until then."

https://dominionlending.ca/economic-insights/bank-of-canada-hiked-overnight-rate-by-75-bps-to-3-25-with-more-to-come?fbclid=IwAR0EfHJ8aW8CihEWAtAFNxC9xukTXoUkxx9wt1QzNdSyjFB0RbbGJKRrNS0

The Bank of Canada Hiked Rates Again And Isn’t Finished Yet The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative ti...

08/08/2022

Bottom Line from Chief Economist Dr. Sherry Cooper:

"The Canadian economy is slowing in response to the whopping rise in interest rates. Bank of Canada is still likely to hike the policy rate by 75 basis points when they meet again on September 7. That would take the prime rate up to 5.45%. Currently, the 5-year government of Canada bond yield is 2.87%, well below its peak of 3.6% in mid-June. Consequently, we may see variable mortgage rates rise above fixed rates before yearend."

The Canadian Economy Is Slowing–Job Markets Will Begin To Shift The July employment report, released this morning by Statistics Canada, is a real head-scratcher. The job numbers fell for a second consecutive month, but so did the number of job seekers, so the unemployment rate remained unchanged a...

07/15/2022

Rates are steadily rising. Reach out if you have any questions!

705-279-4400
[email protected]

06/01/2022

The Bank of Canada raised the overnight policy rate by 0.5% once again today, making this the third rate hike this year.

The next rate announcement is on July 13th 2022. Until then, it looks like rates will be on a steady rise. Lock in your rate today if you're looking to do something in the near future.

If you have any questions on how this will affect your current or upcoming mortgage please feel free to reach out.

705-279-4400
[email protected]

The 50-point move was expected by economists who predicted the Bank of Canada would raise rates for the third time this year in an effort to tamp down on high inflation levels.

05/06/2022

Happy Mother's day weekend!

03/03/2022

Rate hikes have begun. People looking to get a mortgage should look to act fast.

If you are in a variable mortgage your mortgage payment will increase by approximately $12 for every $100,000. The best fixed rate today is 3% while variable rate is holding at 1.7%.

If you have any questions about your mortgage please reach out.

705-279-4400
[email protected]

https://www.cbc.ca/news/business/bank-of-canada-rate-decision-1.6369774?__vfz=medium%3Dsharebar&fbclid=IwAR2IUZhJ8F8StXpayPIy-eo-Bfos61I__cnbLWvK7sFTCuNdCAelTjrd0xY

The Bank of Canada raised its benchmark interest rate to 0.5 per cent on Wednesday, a move that's expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades.

02/22/2022

HUGE Tip for first time home buyers.

Happy to answer any questions!

705-279-4400
[email protected]
Apply now: https://bit.ly/3r6ZrFO

02/17/2022

A great way to quickly check on your potential buying power is with my mortgage toolbox app!

Give me a call or text today 705-279-4400
[email protected]
Apply now: https://bit.ly/3r6ZrFO

My Mortgage Toolbox App: https://dlcapp.ca/app/mason-morgan/download