17 Dec 2018

Canadian Home Sales Weakened Further in November

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 dipped for the third consecutive month, down 2.3% from October to November and down a whopping 12.6% year-over-year. Transactions declined in just over half of all local markets, with lower activity in the Greater Toronto Area (GTA), the Greater Vancouver Read More

7 Dec 2018

Canadian Jobless Rate Fell To A 42-Year Low in November

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

With so much bad news coming out about the economy, Statistics Canada this morning posted a blockbuster jobs report, mitigating worries about the health of the economy. Employment increased by a whopping 94,100 in November, led mostly by full-time jobs that were broadly based across industries. This was the largest monthly jobs gain in records Read More

5 Dec 2018

Bank of Canada’s Dovish Tone

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

As was universally expected, the Bank of Canada’s Governing Council held overnight interest rates steady at 1-3/4% as it heralded a weaker outlook for the Canadian economy. The dovish tone in today’s Bank of Canada statement is in direct contrast to its attitude when it last met on October 24. Since that time, the global Read More

4 Dec 2018

Mortgage Prepayment(s)- The Perfect Holiday Gift!

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Do you know what kind of prepayment privileges you currently have with your mortgage? Does your current lender allow you to make a 10% prepayment or a 20% prepayment on your principle amount? Can you double your monthly payment? Or can you even increase the amount you are paying monthly? This is important information, and Read More

3 Dec 2018

The #1 Misconception About Mortgage Financing!

Posted by: Chris Cabel

Dominion Lending Centres - Accredited Mortgage Professional

It is a reoccurring but common misconception that you will qualify for a mortgage in the future because you have qualified for a mortgage in the past. This is not accurate! Do. Not. Assume. Anything. Even if your financial situation has remained the same or has improved, securing mortgage financing is more difficult now than Read More

30 Nov 2018

30 Nov 2018

Why reverse mortgages are bucking the downward trend

Posted by: Rebecca Burgum

HomeEquity Bank - Director, Referred and Product Marketing

The reverse mortgage market in Canada has been increasing at a phenomenal rate over the last few years. In fact, for HomeEquity Bank, the provider of the CHIP Reverse Mortgage, growth was well over 40% in August, bringing Canada’s outstanding reverse mortgage balance to $3.03 billion. Compare this to the latest growth in lending for Read More

29 Nov 2018

Would a Co-Signer Enable You to Qualify for a Mortgage?

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

There seems to be some confusion about what it actually means to co-sign on a mortgage… and any time there is there is confusion about mortgages, it’s time to chat with your trusted Dominion Lending Centres mortgage professional! Let’s take a look at why you would want to have someone co-sign your mortgage and what Read More

28 Nov 2018

Variable Rate? To Lock In Or Not?

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

This post applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then you should rush to ‘lock in’? You mean the economists that are employed by Read More

27 Nov 2018

Leverage. Is it time to re-think your strategy?

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

Leverage, defined by Investopedia as an investment strategy of using borrowed money — specifically, the use of various financial instruments or borrowed capital — to increase the potential return of an investment, is a core strategy of real estate investors. In my post entitled Real Estate Yield. Understanding Your Cash-on-Cash Return , I reminded readers Read More

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