Reverse Mortgage Chris Murphy Kelowna

02/23/2024

A holiday season fundraiser launched in 2020 by the Rotary Club of Kelowna Sunrise has raised more than $455,000 over the past three years.
The third annual Season of Giving Calendar brought in just over $134,000. The funds will support community programs focused on child, youth and infant health and other Rotary projects.
Among the recipients are the Kelowna General Hospital Foundation, which received a cheque for $45,000 dedicated to purchasing equipment for infants, mothers and nurses in the Neonatal Intensive Care Unit at KGH.
Another $45,000 has been presented to the Child and Youth Advocacy Center (CYAC). "As demand for our services continues to increase, we are so thankful for Sunrise Rotary’s steadfast support. Every Calendar sold makes the future a little bit brighter for our community’s most vulnerable children,” notes Ginny Becker, executive director, Child & Youth Advocacy Center.

The Season of Giving Calendar was first created in 2021. Presenting sponsor Business Finders Canada has supported the fundraiser since its inception.

01/30/2020

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07/15/2019

A Reverse Mortgage may offer solutions other forms of refinance cannot. Need to explore how to use the equity in your home? Call me for insights and information. 250-717-7164

Are you feeling a little lost as you prepare for retirement? Looking for guidance on refinancing options? Learn how a DLC Mortgage Professional can help you ...

06/07/2019

This comeback begs the question--why were markets expecting a rate cut by the bank in December? That expectation may well change after this morning's Statistics Canada releases. Of course, one caveat remains, which is the uncertainty surrounding a trade war with China and Mexico. If the trade situation were to worsen, Canada's economy would undoubtedly be sideswiped.

It appears that the Bank of Canada’s optimism that the Canadian economy’s growth will pick up in the third and fourth quarters of this year is well founded. Not only was the employment report very robust for two consecutive months, but the jobless rate has fallen to its lowest level since at lea...

04/03/2019

For seniors with limited incomes, a reverse mortgage can be a great choice as they continue an independent lifestyle in a home of their own.

The reverse mortgage market in Canada has been increasing at a phenomenal rate over the last few years. In fact, for HomeEquity Bank, the provider of the CHIP Reverse Mortgage, growth was well over 40% in August, bringing Canada’s outstanding reverse mortgage balance to $3.03 billion. Compare this...

03/20/2019

Why reverse mortgages are bucking the downward trend. A guest blog from Rebecca Burgum from our friends at .
https://dominionlending.ca/news/why-reverse-mortgages-are-bucking-the-downward-trend/

02/15/2019

In summary.."Sluggish sales and modestly rising prices nationally are likely in prospect for 2019. While there will still be some significant regional divergences, there is no need for further policy actions to affect demand. Indeed, a growing chorus has been calling for lowering the mortgage qualification rate from the posted five-year fixed rate, currently 5.34%, to closer to the actual conventional rate, about 200 basis points lower" .An election is coming....

Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales improved in January, climbing 3.6% from December ’18 to January ’19. Last year’s annual sales were the weakest since 2012. As the chart below shows, national monthly home sales remain below t...

08/31/2018

Here is a summary. Key also will be the progress of NAFTA talks. To note is the comment on the neutral rate below 3%. Better than the 80's.
The Bank of Canada has raised its benchmark interest rate four times since July 2017 to cool the economy, and market indicators suggest investors are expecting as many as three more hikes over the next year, after which the central bank is anticipated to go into a long pause. That will leave the target for the benchmark rate, currently at 1.5%, at 2.25%--below the 3% "neutral" rate the Bank estimates as a final, non-stimulative resting place for overnight borrowing costs.

This morning, Stats Canada released the second quarter GDP figures indicating a sharp rebound in growth to its most robust pace in a year. Real gross domestic product growth accelerated to 2.9% (all figures quoted in annual rates), up sharply from the 1.4% pace in Q1. The Q2 result is only slightly....

07/11/2018

Dr Cooper's summary points to a sustainable growth in the economy based on exports and manufacturing, not just on a reliance on the housing market - renovations, purchases, construction. That has to be good for the long term.

As expected, the Bank of Canada hiked its key overnight rate this morning by 25 basis points to 1.5%. What wasn’t expected was the hawkish tone of the press release which brushed aside the threat of greater protectionism, instead emphasizing the need for higher interest rates to keep inflation nea...

06/12/2018

A reverse mortgage may be a good alternative to a regular mortgage renewal. Improving your cash flow with no payments may make home ownership affordable. Got questions on how we can make it work for you? Call and I can create options for you.