Gerald Galang Mortgage Agent

Gerald Galang Mortgage Agent Having started my career in 2010, I've seen a great deal of changes in our industry. This experience

Love my team! Proud to be part of this team 🔥 .ca
03/09/2023

Love my team! Proud to be part of this team 🔥 .ca

The team! ❤️ ca
01/04/2023

The team! ❤️
ca

📩 𝐓𝐡𝐢𝐬 𝐣𝐮𝐬𝐭 𝐢𝐧! As anticipated, The Bank of Canada announced another overnight rate increase of 0.50%⬆ effectively incre...
10/26/2022

📩 𝐓𝐡𝐢𝐬 𝐣𝐮𝐬𝐭 𝐢𝐧! As anticipated, The Bank of Canada announced another overnight rate increase of 0.50%⬆ effectively increasing prime to 5.95%.

This means clients currently holding Adjustable Rate Mortgages (ARM), Variable Rate Mortgages (VRM) and Home Equity Secured lines of credit (HELOC) should be mindful of this change as it will increase their overall cost of financing.

If you have any questions, we're always here to help.

When in doubt, call Mortgage Scout! 📞289-981-1710

📩 𝐓𝐡𝐢𝐬 𝐣𝐮𝐬𝐭 𝐢𝐧! As anticipated, The Bank of Canada announced another overnight rate increase of 0.75%⬆ effectively incre...
09/07/2022

📩 𝐓𝐡𝐢𝐬 𝐣𝐮𝐬𝐭 𝐢𝐧! As anticipated, The Bank of Canada announced another overnight rate increase of 0.75%⬆ effectively increasing prime to 5.45%.

This means clients currently holding Adjustable Rate Mortgages (ARM), Variable Rate Mortgages (VRM) and Home Equity Secured lines of credit (HELOC) should be mindful of this change as it will increase their overall cost of financing.

If you have any questions, we're always here to help.

When in doubt, call Mortgage Scout! 📞289-981-1710

🛠 The perfect 9⃣ 0⃣ 0⃣ 𝐂𝐑𝐄𝐃𝐈𝐓 𝐒𝐂𝐎𝐑𝐄. A score we've only seen a few clients achieve in our 25 years of lending, her...
08/11/2022

🛠 The perfect 9⃣ 0⃣ 0⃣ 𝐂𝐑𝐄𝐃𝐈𝐓 𝐒𝐂𝐎𝐑𝐄. A score we've only seen a few clients achieve in our 25 years of lending, here's how the weightings of each individual segment are broken down that makes up this aspirational score!

On Throw Back Thursday , we thought it would be useful to share one of our old BLOG posts, noted below, that dives into greater detail around credit scores to help you get a better handle on yours.

➾ https://mortgagescout.ca/understanding-your-credit-score/

📣 Breaking News: The Bank of Canada announced this morning that they will be increasing the overnight rate by 1% effecti...
07/13/2022

📣 Breaking News: The Bank of Canada announced this morning that they will be increasing the overnight rate by 1% effectively increasing prime to 𝟒.𝟕𝟎%.

That is a total of 2.25% lift in the prime rate from the beginning of 2022 when the prime rate was 2.45%.

A substantial increase, this change will have an impact on:

📌 Carrying costs and minimum payments of Secured Lines of Credit (HELOC's)
📌 Variable rate mortgages
📌 Any other unsecured loans or lines of credit that are prime based

Should you wish to discuss how these changes specifically affect you and your borrowing needs, simply give us a call.

𝐖𝐡𝐞𝐧 𝐢𝐧 𝐝𝐨𝐮𝐛𝐭, 𝐜𝐚𝐥𝐥 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐒𝐜𝐨𝐮𝐭! 📞 289-981-1710

06/16/2022

Interesting facts to be mindful of for Bank of Canada's [BoC] next scheduled interest rate announcement on 𝐉𝐮𝐥𝐲 𝟏𝟑𝐭𝐡, 𝟐𝟎𝟐𝟐:

1) The following video excerpt was taken from the BoC's Financial System Review conference on June 9th where Tiff Macklem, the Governor of the BoC is still holding the course on the necessity of further rate increases to hedge inflation

2) Today, the US Federal Reserve increased its overnight lending rate by ⏫ 𝟎.𝟕𝟓% ⏫ in an attempt to hedge their inflationary pressure

3) Some economists are suggesting that the BoC could follow suit and implement a similar increase which would increase prime to 𝟒.𝟒𝟓% [That would be 0.50% higher than the pre-pandemic prime rate of 3.95%]

Let's see what July 13th has in store for Canadians!

𝐍𝐞𝐰𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: 🔺𝐁𝐎𝐂 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐬 𝐭𝐡𝐞 𝐨𝐯𝐞𝐫𝐧𝐢𝐠𝐡𝐭 𝐫𝐚𝐭𝐞 𝐛𝐲 𝟎.𝟓𝟎%🔺As anticipated, the Bank of Canada announced this morning that ...
06/01/2022

𝐍𝐞𝐰𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: 🔺𝐁𝐎𝐂 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐬 𝐭𝐡𝐞 𝐨𝐯𝐞𝐫𝐧𝐢𝐠𝐡𝐭 𝐫𝐚𝐭𝐞 𝐛𝐲 𝟎.𝟓𝟎%🔺

As anticipated, the Bank of Canada announced this morning that they will be increasing their overnight rate by 0.50% effectively increasing the bank prime lending rate to 𝟑.𝟕𝟎%.

This change will result in an increase in rates for clients who currently hold any products pegged to prime such as Variable Rate Mortgages and Home Equity Secured Lines of Credit (HELOCs).

Need clarification on how this affects your borrowing needs? Give us a call and we would be happy to shed some light on your unique circumstances.

𝐖𝐡𝐞𝐧 𝐢𝐧 𝐝𝐨𝐮𝐛𝐭, 𝐜𝐚𝐥𝐥 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐒𝐜𝐨𝐮𝐭! 📞 298-981-1710

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