LifeLine Mortgages

06/24/2022

A worthy read and summary to help ease some fears!
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-canada-in-better-spot-than-us-due-to-monetary-policy-cibcs-tal/

Have a read and reach out with any questions!

Benjamin Tal, deputy chief economist at CIBC Capital Markets, shares his perspectives on the risk of an economic contraction, monetary policy and implications for the housing market

03/05/2020

With the Bank of Canada's decision to cut the target for the overnight rate by 0.50%, the Big Banks have said they will follow suit and correspondingly reduce their prime rate to 3.45%...Hopefully this will be confirmed with tomorrow's opening! What does this mean for YOU as a or holder? Less interest payable...but only if you do a couple things!!!

Reach out with any questions!

A couple reference articles... https://www.bnnbloomberg.ca/rbc-cuts-prime-lending-rate-after-bank-of-canada-move-1.1400320?fbclid=IwAR0DXMjg5qCGlKByWPQuw9nj2Ygt6wOk3C66ck8wr9XB9Ls3vtywJjx-eWs

https://www.theglobeandmail.com/business/article-rbc-first-to-cut-prime-rate-for-canadian-borrowers-to-345-per-cent/?fbclid=IwAR2Fu4dmUlTbHUAhZKdMk3JE41aC3QFBAQhFbiqN31JzdSPY05j4ASXNMDg

The Royal Bank of Canada slashed its prime lending rate hours after the Bank of Canada reduced its interest rate, the company announced late Wednesday. Scotiabank followed suit shortly after.

02/12/2020

Do you own or are thinking of purchasing a unit with a strata? Some excellent information here to know! Of course do not hesitate to reach out to us with any questions!

Strata owners in BC are facing insurance rate increases of between 50 and 300 per cent this year, according to the Condominium Home Owners Association of BC.

01/29/2020

Trying to save for a down payment... here is some food for thought!

12/19/2019

It was only a matter of time before we reverted back to childhood and began building like again...

Hotel developers are pushing this high-speed, low-cost construction process so fast that suppliers can’t keep up and fill orders.

12/17/2019

While we have just seen a small increase to fixed rates...it really hasn't been that significant and low rates are likely to remain for the foreseeable future! NOW is the time to get your and minimize the interest you pay!

Bank of Canada governor Stephen Poloz said slowing population growth is holding back economic growth and gains in productivity aren't happening fast enough to offset the change.

12/10/2019

Whether you believe the recession is coming or not...or is already here... make sure you reach out to us for a Lets get you ready for 2020.

Trudeau has degraded the value of two major assets — our relationship with the U.S. and our natural resources — to the detriment of all Canadians

12/05/2019

We're not thrilled about this headline "Variable mortgage holders paying up". When it comes to your mortgage, if you are in the right product for you, and are following one of our mortgage strategies, you certainly won't be paying more!

https://ca.yahoo.com/finance/news/bank-of-canada-leaves-interest-rate-unchanged-150046171.html

The overnight rate stays at 1.75 per cent for the ninth straight meeting, where it’s been since last October.

11/14/2019

This article is making the rounds. It's not just a stat that over 60% of 5 year fixed rate mortgages will not make it to the maturity date! If you break a fixed rate for any reason prior to the end of the term, there is interest that is owed. Commonly referred to as a penalty, and in the case of fixed mortgage at a bank, this penalty is often 7-9 times higher, resulting in multiple thousands of dollars lost!
There are many, many reasons why you may break a mortgage before the end of the term! Your best advice comes from a Mortgage Broker.
With any questions, do not hesitate to reach out!

Unlike Big Six banks, fair-penalty lenders don’t use arbitrarily inflated rates in their calculations. That only serves to drive up penalties

11/05/2019

Some interesting data here... You can't buy in the past so let us put a and Solution together for you! Home ownership may not be that far off in your future...

The homeowner life in Canada is changing. We see it everywhere: The once-endless expansion of suburban neighbourhoods has slowed, and highrise cranes now dot the skyline, often even far from city centres.But how much have things really changed? Is the dream of a detached home in the suburbs, with a....