Shaq RD Mortgages

09/19/2023

Pre-approval is the first step in the home-buying process. These are just 3 of many factors that affect what you may be approved for. Lenders take into account: your current income/history of your employment, credit track record and any other outstanding debts you have incurred.

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Let’s connect to converse about what else may be of importance :)

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08/30/2023

Morning to you all! With the increase in mortgage payments, it may not hurt to keep other suburban cities as alternative options for the near future. This is a screenshot of “The Five Most Expensive and Affordable Markets in Ontario and the monthly Mortgage Payments in Each”. It wouldn’t hurt to strategize a game plan for a possible relocation.

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Sources: https://www.zoocasa.com/blog/most-expensive-affordable-mortgage-payments-2023/

07/31/2023

"How higher borrowing cost and mortgages rates have affected current or potential homeowners."

Key Notes:

- This encourages borrowers to focus on financial literacy 📕 and ensuring that they have a clear financial plan to navigate these tough times
- Homeowners facing challenges due to interest rate hikes, which leads to reduction in monthly cash flow 💵
- Rising interest rates and changing qualification rules mean you may have to wait a bit longer to pursue financial goals
- There are still people who actually are able to afford those homes, but it’s getting increasingly difficult(particularly in key market areas within the GTA)

If you or anyone you know may be affected, please tell them to reach out so we can find an effective solution for them.

Link to the article: https://www.mpamag.com/ca/mortgage-industry/industry-trends/canada-mortgage-market-whats-next-for-homeowners-and-buyers/454351

P.s if you are looking to buy, refinance or consolidate high-interest debt in 2023?

Let’s connect :)

📞 (647)-208-7253
📩 [email protected]

07/31/2023

07/14/2023

Good evening folks,

Hope you had a productive day 💥….

Just a little information about the recent "Interest Rate" hike that might be of some value to you. Interest rate hike means an increase to the Canada’s prime rate, which is the interest rate banks charge their consumers with. The current prime rate is 6.95 per cent, which is a significant jump from 3.70 per cent in June of 2022.

Home owners with variable mortgage rates and terms about to expire will be the ones most affected. Due to the rise in higher interest rates borrowers need to allocate a larger share of their disposable income to debt, leaving less for spending on life’s necessities.

If you or anyone you know is in this situation, please tell them to reach out so we can find an effective solution for them.

P.s if you are looking to buy, refinance or consolidate high-interest debt in 2023?

Let’s connect :)

📞 (647)-208-7253
📩 [email protected]
6m

06/27/2023