Ray Macklem - Nest Mortgage

03/18/2024

Whether you have the “if it ain’t broke, don’t fix it” mentality or need to shake things up at mortgage renewal, a fresh look at your mortgage will put you on a better path forward. If you are coming up on renewal, it’s essential to do a mortgage review well in advance. Reach out, we’re happy to help!

01/30/2024

When it’s time to renew your mortgage, you don’t have to switch things up if you don’t want to. But it never hurts to get helpful advice, even if it’s just a second opinion. Don’t just sign on the dotted line - explore all your options. Reach out if you’re up for renewal!

01/22/2024

Loyalty can be costly, and when it comes to renewing your mortgage, exploring other options is essential. Banks often don't offer the most competitive rates or favourable terms during renewals. Many borrowers, driven by loyalty, skip the opportunity to shop around and end up overpaying. Your bank knows this tendency and might not offer you the best deals upfront. Shopping around at renewal allows you to find better opportunities. So, if your mortgage is up for renewal, don't settle. Reach out, and we can help find the best match for you.

01/10/2024

If you have been thinking about buying a new home or purchasing your first one but are unsure when the “right” time is, now is the perfect time to explore your options. According to a survey conducted by Ipsos, 73% of more than 1,000 Canadian adults said that high rates are keeping them out of the housing market. However, as rates drop, that pent-up demand will flood the market, making it much more challenging to find a home. Reach out to get pre-approved now to stay ahead of the curve.

01/06/2024

12/20/2023

When the market starts buzzing, having that pre-approval puts you in the sweet spot. Many people are holding out for better rates before getting pre-approved, and that’s fair. But here’s the kicker – when the tide turns, it happens fast, and the pre-approved gang gets to jump the queue. So, please don’t sleep on getting your pre-approval now. Be ready to rock when things start picking up! Reach out to find out how you can get pre-approved.

12/15/2023

Yes, that’s me as Santa, and yes, the belly is real.

12/14/2023

Central Banks have a history of not recognizing when they have gone too far in hiking rates. Reviewing the four most recent rate cutting cycles of the Bank of Canada contradicts the ‘rates higher for longer’ claims. Tiff Macklem, Governor of the BoC, has explicitly stated that they will not have to wait for inflation to hit the 2% target before easing the policy rate. This means that relief is on the way! If this is even partially accurate, variable rates will become more popular. Fixed rates take longer to decrease. Please reach out if you are curious about your situation and want to know the best course of action. We would be happy to help!

12/14/2023

There are a few key metrics that the Bank of Canada has closely monitored over the year. As you can see from the data, all these metrics are moving in the right direction, indicating that we may soon see some relief in interest rates. If you need guidance or have questions, please reach out. We’re here to help.

12/12/2023

We wanted to know what borrowers were thinking, so we asked if they would choose a fixed or a variable rate mortgage. Most picked a variable rate because they expect a rate drop early next year. However, many still decided on a fixed rate because of the uncertainty of variable rates. It’s important to analyze your options and make an informed decision based on your situation and tolerance. If you need help, feel free to message us, and we’ll be happy to help!

12/11/2023

Just because rates are currently high, it doesn’t mean that they will always remain high. Similarly, 20 years of low rates eventually came to an end. When deciding how to choose a fixed or variable rate, you need to determine whether you are more likely to lose sleep at night, worrying that rates will increase or that you’re paying too much interest. A good night’s sleep and peace of mind are priceless. There is no single answer that fits everyone’s situation, so please reach out to get help deciding what decision is right for you.