LifeLine Mortgages

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!

Higher rates but less inflation panic: What CIBC’s Benjamin Tal is predicting for stocks, home prices and the economy 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

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

Banks slash prime rates in wake of Poloz's cut - BNN Bloomberg 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.

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!

What you need to know about strata insurance rate increases 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.

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

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

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

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!

Low interest rates likely to continue amid sluggish world economy: Poloz 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.

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.

Diane Francis: The inevitable Trudeau recession will ravage the West and the middle class 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

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

'Steady as she goes for Captain Poloz': Variable mortgage holders paying up The overnight rate stays at 1.75 per cent for the ninth straight meeting, where it’s been since last October.

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!

When it comes to mortgage break penalties, big banks are often the worst Unlike Big Six banks, fair-penalty lenders don’t use arbitrarily inflated rates in their calculations. That only serves to drive up penalties

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...

First-Time Homebuyers: What Boomers Got Vs. What Millennials Are Getting 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....