Archive of All Posts

20 Mar
2019

When Death Strikes Suddenly

Mar 20th, 2019 | Posted in: Blog Posts, News

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Recently I was finishing up a mortgage with a young couple who had just had a beautiful baby girl. I brought up the topic of mortgage and life insurance as well as getting a will written up. The response from the husband was that it was such a morbid topic and a real downer when Read More

19 Mar
2019

Federal Budget 2019–Actions for Homebuyers

Mar 19th, 2019 | Posted in: Blog Posts, Chief Economist, News

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

In its fourth fiscal plan, the Trudeau government spent its entire revenue windfall leaving the deficit projection little changed. In this election budget, Finance Minister Bill Morneau announced $22.8 billion over six years in new spending initiative mostly for homebuyers, students and seniors. Trudeau promised in his first budget to have eliminated all red ink Read More

19 Mar
2019

March is Fraud Prevention Month

Mar 19th, 2019 | Posted in: Blog Posts, News

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

You may have seen advertisements warning you to be aware of phishing schemes and other scams. In the past week, I have received fraudulent emails claiming to be Shaw Cable, RBC and even the FBI. These are easy to spot because of mistakes in the letterhead, spelling mistakes and formal language that would fit in Read More

15 Mar
2019

February Home Sales Weaken Sharply–Was It Weather or Stress Tests?

Mar 15th, 2019 | Posted in: Blog Posts, Chief Economist, News

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales dropped sharply from January to February, plummeting 9.1% to its lowest level since November 2012. The month-over-month decline was the biggest since the B-20 stress test was introduced in January of last year. The number of existing home sales was Read More

15 Mar
2019

Mortgage Stress Test – Not the Bad Guy

Mar 15th, 2019 | Posted in: Blog Posts, News

Posted by: Kevin Carlson

Dominion Lending Centres - Accredited Mortgage Professional DLC The Mortgage Firm based in Regina, SK

Ever since the federal government regulator, The Office of the Superintendent of Financial Institutions (or OSFI) brought in the Mortgage Stress Test, there has plenty of blame heaped upon it for slowing home sales and new home starts. Even though it has slightly reduced how much of a mortgage I can approve my clients for, Read More

14 Mar
2019

3 “Rules of Lending” – What Banks look at when you apply for a Mortgage

Mar 14th, 2019 | Posted in: Blog Posts, News

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Buying a home is usually the biggest purchase most people make and there are a lot of factors to consider. Our job is to provide you with a much information (as you can handle!!) so you make the best decision based your particular situation. The 3 “rules of lending” focus on determining the maximum size Read More

13 Mar
2019

What is an Uninsurable Mortgage?

Mar 13th, 2019 | Posted in: Blog Posts, News

Posted by: Kristin Woolard

Dominion Lending Centres - Accredited Mortgage Professional

With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 categories: 1) Insured – a mortgage that is insured with mortgage default insurance through one of Canada’s mortgage insurers, CMHC, Genworth or Canada Guaranty. Read More

12 Mar
2019

8 Mar
2019

February Canadian Jobs Report Remains Strong, But Slump Continues

Mar 8th, 2019 | Posted in: Blog Posts, Chief Economist, News

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The employment report is the lone bright spot in an economy that has slumped across the board. According to today’s jobs report from Statistics Canada, the economy added 55,900 net new jobs last month, all of them full-time positions. This is the second consecutive monthly job surge for an economy that has barely grown in Read More

8 Mar
2019

Personal Guarantee? Proceed With Caution.

Mar 8th, 2019 | Posted in: Blog Posts, News

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

In my post entitled Personal Guarantee Required? 6 Tips You Should Follow, I set forth that there are significant implications to consider, when providing a guarantee. Similar concerns and strategies are raised in a recent article by Scott Anderson of Lawson Lundell LLP, entitled Buckle Up: How Guarantors of Real Estate Loans Can Limit Their Read More

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