Nadine’s Mortgages

Nadine’s Mortgages Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Nadine’s Mortgages, Mortgage brokers, Bowmanville, ON.

Where were you?
08/15/2024

Where were you?

The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rat...
07/24/2024

The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization.

The global economy is expected to continue expanding at an annual rate of about 3% through 2026. While inflation is still above central bank targets in most advanced economies, it is forecast to ease gradually. In the United States, the anticipated economic slowdown is materializing, with consumption growth moderating. US inflation looks to have resumed its downward path. In the euro area, growth is picking up following a weak 2023. China’s economy is growing modestly, with weak domestic demand partially offset by strong exports. Global financial conditions have eased, with lower bond yields, buoyant equity prices, and robust corporate debt issuance. The Canadian dollar has been relatively stable and oil prices are around the levels assumed in April’s Monetary Policy Report (MPR).

In Canada, economic growth likely picked up to about 1½% through the first half of this year. However, with robust population growth of about 3%, the economy’s potential output is still growing faster than GDP, which means excess supply has increased. Household spending, including both consumer purchases and housing, has been weak. There are signs of slack in the labour market. The unemployment rate has risen to 6.4%, with employment continuing to grow more slowly than the labour force and job seekers taking longer to find work. Wage growth is showing some signs of moderating, but remains elevated.

GDP growth is forecast to increase in the second half of 2024 and through 2025. This reflects stronger exports and a recovery in household spending and business investment as borrowing costs ease. Residential investment is expected to grow robustly. With new government limits on admissions of non-permanent residents, population growth should slow in 2025.

Would you like a guide? I have a comprehensive booklet. I also have a list of professionals within the industry such as...
07/17/2024

Would you like a guide? I have a comprehensive booklet. I also have a list of professionals within the industry such as financial planners, lawyers. Home inspectors and more. Being prepared is the key in today’s market. Feel free to reach out and I will send you a copy. ☀️

Saving for a home? Remember, it’s not just about the down payment. The road to homeownership is dotted with less obvious...
07/16/2024

Saving for a home? Remember, it’s not just about the down payment. The road to homeownership is dotted with less obvious expenses that can add up.

Think beyond to mortgage-related fees like appraisals and originations. Don’t forget the all-important home inspection to safeguard your investment. And once the property taxes and closing costs are paid - the keys will be in hand. Even the act of moving has its price tag—from trucks to packing supplies.

Being well-informed of these costs means you’re truly ready to embark on the home-buying adventure. Stay tuned for more insights to navigate this journey with ease!

Beautiful views
07/15/2024

Beautiful views

HOW RATES ARE DETERMINEDThe chartered banks set the prime-lending rate (the rate they offer their best custome...
07/11/2024

HOW RATES ARE DETERMINED
The chartered banks set the prime-lending rate (the rate they offer their best customers). They base their decisions on the Bank of Canada’s overnight rate, because that’s the rate that influences their own borrowing. Approximately eight times per year, the Bank of Canada makes rate announcements that could affect your mortgage as variable mortgage rates and lines of credit move in conjunction with the prime-lending rate. When it comes to fixed-rate mortgages, banks use Government of Canada bonds. In the bond market, interest rates can fluctuate more often and can provide clues on where fixed mortgage rates will go next.

To put it simply: a variable-rate is based off of the current Prime Rate, and can fluctuate depending on the markets. A fixed-rate is typically tied to the world economy where the variable rate is linked to the Canadian economy. When the economy is stable, variable rates will remain low to stimulate buying.

FIXED-RATE VS. VARIABLE-RATE
Fixed-Rate Mortgage

First-time homebuyers and experienced homebuyers typically love the stability of a fixed rate when just entering the mortgage space.

The pros of this type of mortgage are that your payments don’t change throughout the life of the term. However, should the Prime Rate drop, you won’t be able to take advantage of potential interest savings.

Variable-Rate Mortgage

As mentioned, variable-rate mortgages are based on the Prime Rate in Canada. This means that the amount of interest you pay on your mortgage could go up or down, depending on the Prime. When considering a variable-rate mortgage, some individuals will set standard payments (based on the same mortgage at a fixed-rate). This means that, should Prime drop and interest rates lower, they would end up paying more to the principal as opposed to paying interest.

If the rates go up, they simply pay more interest instead of direct to the principal loan.

Other variable-rate mortgage holders will simply allow their payments to drop with Prime Rate decreases, or increase should the rate go up.

Ridiculously delicious 🥑 How do you eat your avocado’s? (pictured here brown bread, butter, pealed, sliced avocado with ...
07/10/2024

Ridiculously delicious 🥑 How do you eat your avocado’s?

(pictured here brown bread, butter, pealed, sliced avocado with seasoning to taste on top).

I have you covered and I have a ray of solutions to assist you in your financial goals.
07/09/2024

I have you covered and I have a ray of solutions to assist you in your financial goals.

07/03/2024

Let’s talk 289-356-3044. Refinance and breathe easier. Let’s get rid of that debt for you today.

289-356-3044 Ready when you are ☀️☀️☀️☀️☀️
06/25/2024

289-356-3044

Ready when you are ☀️☀️☀️☀️☀️

Looking for a reliable cleaning service for your real estate properties? Our bonded and insured pre-list and move-in cle...
06/25/2024

Looking for a reliable cleaning service for your real estate properties? Our bonded and insured pre-list and move-in cleaning service has got you covered. We have been serving realtors like you for years.

Address

Bowmanville, ON

Telephone

+12893563044

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