Canquest Mortgage

14/10/2023

When Ryan approached our broker, Canquest Mortgage, Karen Loehndorf, he was looking for the lowest rate. But, Karen was able to provide a little direction about why the lowest rate isn't always the best option. Great work, Karen!

"Getting the best rate is not always a good thing. Karen was able to educate us on the disadvantages of going with a Bank for a mortgage and the dangers / high costs of potential mortgage discharge fees. Karen's advice guided us through the process and did all the heavy lifting for us. We are truly grateful!"

Ryan, Client Survey

26/10/2022

The Bank of Canada has increased its overnight lending rate again by .5%. 📈
At this point, this really isn't news. What's important to know is what you can do today to manage these increases in your budget.
If you want to look at reducing your payments, there are a couple of options we can look at:
1. Extending your amortization period,
2. Refinancing with a fixed rate for consistent payments,
3. Changing your payment frequency,
4. Debt consolidation to reduce higher rates on unsecured debt,
5. And more. Reach out to one of our awesome team members to get advice for your situation!

13/07/2022

The Bank of Canada is at it again, increasing rates for the fourth time this year.

We know that increasing rates can feel scary. We've benefitted from extremely low rates over the last few years. Now with inflation stretching our wallets, the last thing we want to be worried about it rates.

Our advice is to reach out to your mortgage professional. Discuss your options to renew early; lock in a rate now; look at a refinance to free up cash flow or consolidate debt, and more.

02/03/2022

The day has finally come! The Bank has delivered on its eventual promise to raise rates by .25% 📈
But, let’s break it down. What does this increase mean for you…right now…today?
1️⃣ Prime rate will go up, and almost immediately. The Big 5 banks will start announcing their prime rate changes as early as today, likely by .25%
2️⃣ Your variable rate mortgage is about to go up. It's not a huge increase. A rise of .25% on a $350,000 mortgage for example is $40 a month. The same logic will apply if you have a home equity line of credit (HELOC).
3️⃣ Your unsecured loan or line of credit may increase. If any loans are tied to the prime rate, you now have the privilege of paying your bank more interest each month! Yay…

24/02/2022

People need to review their finances- look at consolidation of debts, locking in their mortgages, and paying down debt.

The Bank of Canada will raise interest rates by 25 basis points on March 2, earlier than previously thought and ahead of the U.S. Federal Reserve, according to economists surveyed in a Reuters poll, which also showed expectations that rates will be higher by year-end than previously thought.

20/10/2021

Hello Everyone,

This note is going out to some of my friends, family, and colleagues.

Some of you may know my mortgage brokerage started a charity over 5 years ago called Community Key. CK helps nominated families that have hit a financial crunch because of the illness or injury of a child. We’ve helped over 100 families with their mortgage or rent payments and provided over $175,000 in help so far. The majority of our fundraising is from contributions from the Quantus brokers on funded files, but we do try and raise some money outside of that as well. We had a silent auction gala planned that was cancelled less than 48 hours before Covid really hit, and we’ve been rescheduling that ever since!

In the mean time, Quantus is holding a hockey pool we’ve been doing each year to raise a little money. This time we’re trying to invite more people to it, so this might be the first time you’re receiving this email from me. It’s a fun way to follow the NHL season for a few bucks, so if you’re interested here’s how it works:

- Entry is $50 from some feedback that seems like a good amount for a full season.
- We’re allowing 5 trades this year within your boxes, so you’ve still got a chance if a player gets hurt or you picked a stinker
- We’re giving away money to the worst picker!
- Cut-off for picks is this Friday, Oct 22nd
- Pick one player per box (there’s a few teams to pick as well)
- If you know nothing about hockey, the computer can actually just pick a team
- Winner gets 25% of the pot, 2nd 15%, last place 10%. 50% of the proceeds go to Community Key and my brokerage Quantus will match that amount
- You can e-transfer your 50 bucks to [email protected]. It will auto-deposit, no need for a password.
- Link to pick your team below…

http://www.officepools.com/invite/classic/m/HG7RDG4J

For more on Community Key you can go to: www.keyed.ca

Thank you for your consideration on this. I’d love if you could participate. Signing up and picking a team can be done in about 5 minutes.

The Community Key program helps families that care for a seriously-ill or critically-injured child pay their mortgage or rent payments.

18/05/2021

Interesting for anyone wanting to know where Gov’t back - CMHC premium goes and the excess.

04/06/2020

https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2020/cmhc-reviews-underwriting-criteria

Protecting the economic futures of Canadians: CMHC reviews underwriting criteria

27/05/2020

Unbelievable! We need to all read this and refocus on where our future repayment will come from. How we allowed the government to spend even before the covid19 to this level of debt. Don’t forget we have provincial debt as well. Liberals need to go.

05/04/2020

https://globalnews.ca/news/6769404/payment-deferrals-credit-score-canada-equifax/

There's a concerted effort underway to ensure Canadians who take advantage of special payment plans are not negatively affected, Equifax said.