Archive of All Posts

22 Aug
2019

Stress Test Rate & Recent Decrease

Aug 22nd, 2019 | Posted in: Blog Posts, News

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Currently, all borrowers in Canada need to qualify for a new mortgage at the current Bank of Canada Benchmark Qualifying Rate or at their approved mortgage interest rate plus 2.0%, whichever is higher. For more than a year, this Bank of Canada Benchmark Qualifying Rate has been 5.34%. Now, for the first time in 3-years, Read More

20 Aug
2019

Raise your credit score in 3 months

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

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with brokers. He had a client referred to him by a mortgage broker who had a conundrum. She Read More

9 Aug
2019

Jobs Stall for Second Month In A Row, But Wage Growth Surges

Aug 9th, 2019 | Posted in: Blog Posts, Chief Economist, News

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The booming labour market in Canada seems to have vanished, at least for now, as employment declined and the unemployment rate rose again in July. Whether it is the summer doldrums, a trained worker shortage or the beginning of a slower second-half economy is yet to be seen. But the news is troubling in the Read More

8 Aug
2019

4 costs to consider as a first-time homebuyer

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

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Oftentimes even the most organized and detail oriented first-time homebuyer can overlook some unexpected costs that come with the purchase of their new home. We are outlining 4 of the costs that we most commonly see overlooked by home buyers in hopes that we can better prepare you—and save you from a few surprises! 1. Read More

6 Aug
2019

Mortgages are like coffee

Aug 6th, 2019 | Posted in: Blog Posts, News

Posted by: Todd Skene, MBA

Dominion Lending Centres - Accredited Mortgage Professional

The most common question we get for mortgages is “what is your best rate?” Now imagine we walked into our local coffee shop and asked “what is your best price?” Doesn’t happen. There are all kinds of different coffees and lots of ways to make them. The same goes for mortgages. Getting a coffee at Read More

1 Aug
2019

How to Save Money on a Variable Rate Mortgage

Aug 1st, 2019 | Posted in: Blog Posts, News

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

A few years ago, I remember seeing a statistic that said that if you took out a variable rate mortgage instead of a fixed rate, you would do better in 95 out of the last 100 years. Often the spread between a 5-year variable rate and a 5-year fixed rate was more than 1% and Read More

31 Jul
2019

The Fed’s Quarter-Point Rate Cut Not the Start of Something Big

Jul 31st, 2019 | Posted in: Blog Posts, Chief Economist, News

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The Federal Open Market Committee (FOMC) cut the overnight target rate by 25 basis points as expected today. Chairman Jerome Powell, however, said it was designed to “insure against downside risks” rather than to signal the start of multiple rate cuts. President Trump called for “large” rate cuts on Twitter and has for months pressured Read More

30 Jul
2019

Credit Reports: You’ve Scored! But Are You Playing the Game?

Jul 30th, 2019 | Posted in: Blog Posts, News

Posted by: Todd Skene, MBA

Dominion Lending Centres - Accredited Mortgage Professional

For most people, your personal credit score and how a credit score is calculated are complete mysteries. How can you be expected to play and be successful if you aren’t even told the rules of the game? There are things borrowers can do to improve their score so they can access better mortgage products and Read More

25 Jul
2019

4 Weird Things Lenders Ask For

Jul 25th, 2019 | Posted in: Blog Posts, News

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

A number of times I have had people who wonder why they need to provide so much documentation when it comes to arranging a mortgage. Besides an employment letter, you are usually asked to provide a pay stub and your most recent Notice of Assessment (NOA) to prove income. “Why do they need all 3, Read More

23 Jul
2019

Bullying Ends Here update for July 2019

Jul 23rd, 2019 | Posted in: Blog Posts, News

Posted by: Tad Milmine

Founder, Bullying Ends Here

‘Well that’s it for another school year….and what a year it was! I am full of joy writing this to you, and a little overwhelmed as well realizing just how effective our charity has become. Once again, we presented in EVERY province across Canada while also going to the US, England and Scotland. The Scottish Read More

  • Residential Mortgages

    The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres, we want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
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  • Commercial Mortgages

    Dominion Lending Centres Commercial has established excellent relationships in the lending community with pension funds, banks, credit unions, life insurance companies, trust companies, private institutions and individual investors.
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