Lynne Gibson-Neighbourhood Dominion Lending Centres-Mortgage Broker Caledon

08/17/2022

Inflation did go down a little but we are no where near the end so expect further increases in rates.
Time to tighten your belts & hold on for the ride.

Macklem’s Op-Ed (emphasis is mine) National Post Comment, August 16, 2022 Inflation in Canada has come down a little, but it remains far too high. After rising rapidly to reach 8.1 per cent in June, inflation as measured by the consumer price index (CPI) was 7.6 per cent in July. The good news is ...

05/30/2022

Economist weight in on Housing market.... a soft landing vs a major correction.
Prices were not sustainable need to return to normal.

"This is more likely to be a soft landing than a severe correction or some kind of crash or meltdown"

04/13/2022

As expected the BofC announced a 0,50% increase this morning, that will prompt lenders to change prime rate, so we should expect prime to go to 3.20%
But hold on, check you fixed discount from Prime rate? Many of you will have a 1.0% discount so your rate would still only be an amazingly low 2.20%. A far cry from today's fixed rates that are often exceeding 4% today.
If you have been using the strategy of paying your variable rate like a fixed rate (if you don't know the strategy please reach out) then you are really ahead of the game.

The decision marks the central bank's first oversized rate increase for nearly 22 years

01/26/2022

Still no increase, warning they will need to increase rates but for now, hold the course at 0.25%

All eyes have been on the Bank in recent weeks amid speculation of an impending rate hike

01/17/2022

Housing prices continue to increase, simple economics of supply (lack there of) and demand.

Aggregate house price increases again

12/08/2021

Despite rumor's of increase, Bank of Canada is staying the course, no change to overnight lending rate which means no change to Prime for those of you with Home Equity Lines of Credit (HELOC) or Variable Rate Mortgages

The central bank's last scheduled announcement of the year gave an indication of 2022's likely rates trajectory

11/11/2021

Reverse mortgage maybe right for you or a family member. The product is often misunderstood.
Pattie Lovett Reid gives thumbs up.
If you think this maybe a good fit, lets discuss so that you or your loved ones can live the life you have worked hard for & dreamed of.

In her column for CTVNews.ca, financial commentator Pattie Lovett-Reid discusses reverse mortgages and how they could be a financial lifeline for those struggling to make ends meet and have a lot of equity tied up in their home.

11/02/2021

Interest rates will rise, but uncertainly remains over how quickly & when,
We have seen recent increased in fixed rates (driven by bond yields) but variable remains low.
How we fair with the pandemic over the winter, will we return to normal or take a step back? The progress of return to normal will weigh in on the rise of prime or variable rates.
In the end, decision maybe based on your appetite for risk.

The central bank’s October announcement was one of its most significant this year

05/28/2021

Supply & demand continue to fuel the market.

CanWise co-CEO on the factors that'll shape the market in the second half of the year

04/23/2021

One good thing COVID has brought us is historically low interest rates. It is a great time for a mortgage check up to see if you will save money by refinancing to take advantage of today's low rates.
Contact me for a no obligation, no cost check up.