Ian Kerr - Mortgage Agent, Lic. M14001989

02/17/2025

Time together as a family is a gift. Happy Family Day to you and yours!

01/30/2025

In case you missed it—The Bank of Canada has lowered interest rates! A drop from 4.95% to 4.60% could mean real savings on your mortgage. Want to see how much? Let’s run the numbers! Call me to find out what this means for your monthly payments. 📉📞

IAN KERR
MORTGAGE AGENT LEVEL 2
FSRA License No. M14001989
📞 Office: (647) 793-6695
📧 Email: [email protected]

12/16/2024

The recent changes to Canada’s mortgage rules are making homeownership more accessible for many buyers. The price cap for insured mortgages has been raised from $1 million to $1.5 million, allowing prospective homeowners to purchase more expensive properties with a smaller down payment.

This is particularly beneficial for those in higher-priced markets, where buyers can now qualify with as little as 5% down on the first $500,000 and 10% on the remaining balance. As a result, these changes could help many save thousands of dollars on their down payments.

IAN KERR
MORTGAGE AGENT LEVEL 2
FSRA License No. M14001989
📞 Office: (647) 793-6695
📧 Email: [email protected]

12/11/2024

Bank of Canada Rate Decrease
How it affects the average mortgage payment:

If your mortgage balance is $750,000 with an adjustable-rate mortgage at a previous interest rate of 5.95%, your monthly payment was approximately $4,809. With the new interest rate of 5.45% (Prime minus 0.50%), your monthly payment is estimated to drop to $4,583.

This represents an estimated $226 per month in savings ($30 per month per $100,000 balance). Keep in mind, actual savings may vary depending on your lender’s adjustments and your mortgage terms.

Contact me today to discuss how this rate change could impact your mortgage! Let’s find the best solution for you.

IAN KERR
MORTGAGE AGENT LEVEL 2
FSRA License No. M14001989
📞Office: (647) 793-6695
📧 Email: [email protected]

07/13/2016

The Bank of Canada held its benchmark interest rate steady at 0.5%.

The Bank of Canada held its benchmark interest rate steady at 0.5% on Wednesday, but says overly high house prices in some cities and the Brexit threat are risks to Canada's economy down the line.

01/21/2016

The prime rate — the interest rate commercial banks charge their most credit-worthy customers — is unlikely to change substantially any time soon after the Bank of Canada announced Wednesday it would leave its benchmark overnight rate unchanged at 0.5 per cent.

Clip from The National

01/11/2016

At The Mortgage Centre, we want to show our appreciation when a valued client tells a friend, co-worker or family member about our services.

Available to everyone who refers a mortgage which funds through Ian Kerr at The Mortgage Centre. Start referring people today!

01/04/2016

Where in Canada can you afford to rent?

To help you make a smart financial decision, checkout this useful tool created by Rob Carrick and Tom Cardoso. It’s designed for people making up to $60,000 or so per year. You tell it exactly how much you make and what province(s) you want to live in, and the tool will show you the cities where you can afford to rent.

Do you make up to $50,000 a year? Find out what your ideal affordable Canadian city is with this handy tool

12/17/2015

Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from 5 per cent to 10 per cent for the portion of the house price that is above $500,000.

Ian Kerr | Mortgage Agent | Call: (647) 793-6695

Federal government lifting minimum down payment requirements on homes valued at more than $500,000 in bid to cool Vancouver, Toronto markets.