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Mortgage Broker - Kevin Ashcroft

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Canada
Saint Catharines, ON
Mortgage Broker - Kevin Ashcroft

I review your financial situation and find the best solution to meet your goals. I have access to banks, credit unions, monoline and private lenders.

Let's start a conversation - [email protected] Neighbourhood Dominion Lending Centres

07/30/2025

🇨🇦 Bank of Canada Rate decision July 30, 2025 - No change

Summary:

We expect the Canadian economy to post a small negative reading (-0.8%) in Q2 and (-0.3%) in Q3, bringing growth for the year to 1.2%. The next Governing Council decision date is September 17, which will give the Bank time to assess the underlying momentum in inflation and the dampening effect of tariffs on economic activity.

If inflation slows over the next couple of months and the economy slows in Q2 and Q3 as widely expected, the Bank will likely cut rates one more time this year, bringing the overnight rate down to 2.50%, within the neutral range for monetary policy. Bay Street economists have varying views on the rate outlook (see chart above). While the Fed will hold rates steady today, despite the incredible pressure coming from the White House, the Bank of Canada could well cut rates one more time this year.

Kevin Ashcroft, Mortgage Broker
DLC FC Funding FSRA #10671
33 Maywood Ave., St. Catharines ON L2R 1C5
905-933-6674
www.callkevin.ca

01/29/2025

The Bank of Canada today reduced its target for the overnight rate to 3% - prime reduced to 5.20%

The Bank is also announcing its plan to complete the normalization of its balance sheet, ending quantitative tightening.

The Bank will restart asset purchases in early March, beginning gradually so that its balance sheet stabilizes and then grows modestly, in line with growth in the economy.

The global economy is expected to continue growing by about 3% over the next two years.

In Canada, past cuts to interest rates have started to boost the economy. The recent strengthening in both consumption and housing activity is expected to continue. However, business investment remains weak. The outlook for exports is being supported by new export capacity for oil and gas.

Lower interest rates are boosting household spending and, in the outlook published today, the economy is expected to strengthen gradually and inflation to stay close to target.

However, if broad-based and significant tariffs were imposed, the resilience of Canada’s economy would be tested.

We will be following developments closely and assessing the implications for economic activity, inflation and monetary policy in Canada.

The Bank is committed to maintaining price stability for Canadians.

The next scheduled date for announcing the overnight rate target is March 12, 2025.

Kevin Ashcroft
Mortgage Broker | FSRA M15001048
DLC FC Funding, Licence #10671
905-933-6674
[email protected]

12/11/2024

BREAKING 🏦

The Bank of Canada has lowered its benchmark rate by 50 bps, bringing it down to 3.25%. This marks the fifth consecutive cut since June.

The Bank of Canada's decision to lower the interest policy rate marks an important step in addressing housing affordability challenges across Canada.

This decision offers much-needed relief to middle-class families, aspiring homeowners, and first-time buyers who have been navigating significant financial pressures.

While this is progress in the right direction toward making homeownership more affordable, there’s still more work ahead.

The next scheduled date for announcing the overnight rate target is January 29, 2025.

Kevin Ashcroft, Mortgage Broker
DLC FC Funding Lic #10671
callKevin.ca
905-933-6674

12/06/2024

Canada's unemployment rate jumps 0.3 percentage points to 6.8%, raising the odds of another big interest rate cut next week

The jobless rate now stands at its highest levels since January 2017, outside the COVID-19 pandemic years.

https://globalnews.ca/news/10905030/canada-jobs-november-2024/

Kevin Ashcroft, Mortgage Broker
DLC FC Funding FSRA #10671

11/27/2024

Thinking about refinancing your mortgage but feeling unsure? 🤔 You're not alone—many homeowners are navigating these decisions right now. I’m here to help you assess market trends and determine if refinancing makes sense for your financial goals. Let’s connect and explore your options together! 📞🏡✨

Kevin Ashcroft, Mortgage Broker
DLC FC Funding
33 Maywood Ave., St. Catharines
905-933-6674
[email protected]

03/06/2024

While today’s Bank of Canada statement was more balanced than some economists had expected, most agree that if inflation continues to trend downward in the coming months, the first rate cut could still be on track for the Bank’s June meeting.

Bond markets continue to price in nearly 90% odds of a rate cut at the Bank’s June 5 meeting.

The BoC also noted that future rate decisions will be guided by indicators such as supply-demand balance, wage growth, inflation expectations and corporate pricing behaviour, which it will be monitoring closely.

Next BoC rate date is Wednesday April 10, 2024

Kevin Ashcroft, Mortgage Broker
DLC FC Funding
905-933-6674
[email protected]

12/06/2023

It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each word of the BoC press release and assessed that the Bank took a less hawkish stance.

Bond yields peaked in early October and have fallen by nearly 100 basis points. This has led to reductions in fixed mortgage rates; however, those cuts have been far less than historical experience would have suggested, given the rally in 5-year government bonds.

Cuts in variable mortgage rates await a reduction in the overnight policy rate, which triggers a commensurate decline in the prime rate, which is currently stuck at 7.2%. We expect the BoC to begin cutting the policy rate by the middle of next year, taking it down a full percentage point to 4% by yearend.

Kevin Ashcroft
Mortgage Broker
Neighbourhood DLC
905-933-6674
[email protected]

11/15/2023

Download My Mortgage Toolbox App today!

IT'S FREE :)

What can you do with my app:

- Calculate your total cost of owning a home

- Estimate the minimum down payment you need

- Calculate Land transfer taxes and the available rebates

- Calculate the maximum loan you can borrow

- Stress test your mortgage

- Estimate your Closing costs

- Compare your options side by side

- Search for the best mortgage rates

- Email Summary reports (PDF)

- Use my app in English, French, Spanish, Hindi and Chinese

https://www.dlcapp.ca/app/kevin-ashcroft

10/13/2023

6 Things for Co-Signers to Consider.

It is important to be aware of the implications when co-signing on any loan.

1. Credit History: If the borrower is late on the payments or there are issues with the loan, it will affect your credit score as well as theirs.

2. Legal Implications: Always be sure to understand the taxes, legal and estate situations that go along with co-signing, should the borrower fail to pay. A lawyer can help you review the loan agreement and advise of any items you may need to take note of.

3. Timeline: Understanding how many years the co-signer agreement will be in place and what your options are for making changes will help you determine the scope of the loan. Can they assume the entirety of the mortgage on their own in the future?

4. Personal Income Tax: Depending on the loan, you may have an obligation to pay capital gains taxes so it is a good idea to review your personal tax situation with an accountant prior to signing off on the co-borrower agreement to ensure no surprises.

5. Relationship with Borrower: Do you trust the individual? Are you aware of their financial situation? Are you willing to potentially put yourself at risk to assist them? These are all important questions as many of us may want to help out family or loved ones, but it is important to ensure that the individual is reliable.

6. Future Finances: Consider your future finances and if you had any plans in the future that could be impacted by an additional loan.

[email protected]
www.callKevin.ca

10/10/2023

ACCELERATE YOUR PAYMENT!!!

Know Your Options

Determining your payment frequency type is essential when solidifying your mortgage plans.

Knowing all of your options can have a major impact on your long term payment strategy and the overall cost of your mortgage.

This is when hiring a mortgage broker that you can trust comes into play.

Payment Frequency Types

There are 6 frequency payment types available to prospective home buyers:

Monthly
Semi-Monthly
Biweekly
Biweekly-Accelerated
Weekly
Weekly-Accelerated
Depending on which plan you choose, there are pros and cons to consider.

In short, the accelerated plans will actually save you money in the long run while the more traditional plans will have lower payments but will take the entire amortization period to pay off and will cost you more in interest.

Accelerated schedules involve adding an extra month into your payment schedule each year – this means that over a 12 month period, you would divide and spread an extra month’s worth of a mortgage payment across the 12 months of your payments.

In the short term, this approach will slightly increase your payment amount each time – however, in the long run you benefit from paying off your mortgage sooner and with significant interest savings to boot.

At the end of the day, I’m here to help you figure out the payment strategy that is best for you by showing you all of your options.

One of the biggest benefits for hiring a mortgage broker is that you get tailored service specific to your financial needs.

If you have any questions regarding closing costs, or anything relating to mortgages, feel free to give me a call and I’ll gladly help wherever I can.

Kevin Ashcroft,

Mortgage Broker

Address

33 Maywood Avenue , 2nd Floor
Saint Catharines, ON
L2R1C5

Opening Hours

Monday	9am - 7pm
Tuesday	9am - 7pm
Wednesday	9am - 7pm
Thursday	9am - 7pm
Friday	9am - 7pm

Website

http://www.callKevin.ca/

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