Evermark Mortgage Group

05/09/2022

Happy Mother's Day from the Evermark Mortgage Group Team!

04/25/2022

04/05/2022

If the Bank of Canada raises the overnight interest rate another 0.25%, it could have an impact on your current variable rate mortgage.

There could also be implications to your renewal if the maturity date of your term is coming soon. Please reach out to an Evermark Mortgage professional for a consult.

03/22/2022

It comes as a surprise to most people that their mortgage payout penalty is higher than they expected.
This certainly tends to be the case with some of the more mainstream lenders (ie:banks).

The calculation for an early payout can differ from lender to lender. They can calculate the payout based on posted rates, instead of the discounted rates. Some lenders will calculate a variable rate mortgage payout based on the prime rate, rather than what the current interest rate is after a discount. It's an extremely important detail to become aware of while you're looking for a home, since the average mortgage is typically paid out around year three. Please feel free to contact us at Evermark Mortgage Group if you have a question or concern about your mortgage.

03/14/2022

Have you sat down and evaluated your mortgage options to combat the rising interest rates? The cost of borrowing is increasing and there may be a better strategy to maximize your mortgage.

The Bank of Canada (BoC) adjusts the policy interest rate (aka:overnight rate) in attempts to maintain a inflation rate around 2%. The overnight rate influences the prime rate, which banks use as their lending benchmarks.

In January 2022, inflation rate of good was 4.4%, according to the BoC.

There are 6 more BoC interest rate announcements in 2022. The next one is April 13, 2022.

Take the time to evaluate your mortgage and sit down with an Evermark Mortgage professional to ensure you are prepared for the upcoming season.

'https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

03/07/2022

Trust. Be it professional or personal, relationships built on trust are the purest form that stand the test of time. Jamie has been building those relationships for over 20 years in the financial industry. Many of her clients today are the same ones she had back just starting out. Jamie realizes that mortgages are a custom fit, everyone is different and ensuring her clients get the mortgage that fits them is top priority. From buying your first home to building your dream home, you’ll be in good hands with Jamie. She loves what she does and it shows.

On the personal side of things, Jamie is married and has 2 dogs and a cat. She loves to travel and has a passion for fitness. As a past national level competitor, she understands that hard work and dedication are essential for success and applies both to all aspects of her life.

Whether you are in the market for a mortgage or simply have a question, Jamie is always willing to help.

03/01/2022

People operate mainly out of habit. We generally buy the same brand of consumables, the same make of car and shop at the same stores that we have in the past. And when it's time to start looking at getting a mortgage, we often go straight to the bank we usually deal with.

Which could be a big mistake.

A report by the Consumer Financial Protection Bureau found that nearly half of all mortgage borrowers surveyed seriously considered only one lender before applying for a mortgage. Over three-quarters submitted an application to only a single lender when obtaining their loan.

The reason this could be a problem is because the same study found that mortgage rates on a conventional 30-year fixed-rate mortgage can vary by more than half a percentage point among lenders.

Here is what that means- on a $250,000 mortgage over a 30 year amortization period at 2.5% interest and 2% interest, the difference is $5946.03 over the first 5-year term. That is a massive expense if you decide not to shop around!

Contacting an Evermark Mortgage professional give you access to over 50 different lenders, giving you the best opportunity to save money on your mortgage.

02/15/2022

1. Save time and money: When you use a mortgage broker, you can save time and money. Instead of applying at the lenders yourself and potentially lowering your credit score, your mortgage broker should do all the legwork for you. Not only can this save you time, it can save you money.

2. Lower mortgage rate: Your mortgage broker may do a lot of business with some lenders, giving them volume bonuses, who can pass those savings on to you.

3. Unbiased advice and greater choice: Your mortgage broker typically works with dozens of lenders. Client referrals are their lifeblood. As such, a good broker should want to ensure you’re fully satisfied by providing you with unbiased advice. They should choose a lender because they’re best suited for you, not because of the finder’s fee offered.

4. No cost (most of the time): Your mortgage broker is compensated directly by the lender, so most of the time there is no cost to you as the consumer.

02/08/2022

Did you know you can fund your renovation with equity built up in your home? Contact an Evermark Mortgage Professional to find out how!

01/11/2022

Whether you're in the market for your first home or upgrading your home, a pre-approval can offer confidence when putting in an offer to purchase. This is especially true when the inventory levels in the market are moving the way they are now. Contact an Evermark Mortgage Group professional today!!

12/31/2021

Happy New Year from all of us at Evermark Mortgage Group!

12/24/2021

Merry Christmas from the Evermark Mortgage Group team!