News

30 Aug 2018

Q2 Canadian Growth Rebounded to 2.9%

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

This morning, Stats Canada released the second quarter GDP figures indicating a sharp rebound in growth to its most robust pace in a year. Real gross domestic product growth accelerated to 2.9% (all figures quoted in annual rates), up sharply from the 1.4% pace in Q1. The Q2 result is only slightly above the Bank Read More

30 Aug 2018

Is easy money coming to an end?

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

In a previous post, I discussed interest rates and their effect on real estate values. I argued that they did indeed alter buyer perceptions, and consequently value and price. But what about absolute interest rate levels? Is easy money coming to an end? Many lack any experience of high interest rates In a June 5, Read More

29 Aug 2018

What happens when your credit card account is closed

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

I have been working in the mortgage industry since 2005. I have had all sorts of clients over the years. Every once in a while I get someone who has a car loan , a couple of credit cards but there’s a collection from a credit card, a dentist or some other creditor. When I Read More

28 Aug 2018

Reverse Mortgage – Need to Know

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

HomeEquity Bank is the only bank in Canada that currently offers the CHIP Reverse Mortgage as well as a secondary product, Income Advantage. These two products are options for homeowners unlike anything else out there. Instead of borrowing money to purchase a house, they will lend you money if you already have purchased one (as long Read More

24 Aug 2018

Buying a home as a new Canadian

Posted by: Karen Penner

Dominion Lending Centres - Accredited Mortgage Professional

Canada is made up of hundreds of thousands of people, and while some did not start here, they have made it their home. Buying a home, especially when you are new to Canada can be mind boggling, BUT, we have a mortgage for you! The New to Canada Program is designed to help new Canadians Read More

23 Aug 2018

Toys and buying a home

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

In 2005, I was asked to do a pre-approval by a couple hoping to buy a home. I went through the application with them and pre-approved them for $320,000. They were astounded. They told me that their bank told them that they were qualified to a maximum of $260,000. They wanted to know how I Read More

22 Aug 2018

7 Sure-Fire Ways to Grow Your Credit Score

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Have you ever wished for a simplified guide on how to actually GROW your credit score? Well today is your lucky day! We have had years of experience working with individuals who come to us with poor or damaged credit and we have found 7 steps that prove to be tried and true in fixing Read More

21 Aug 2018

5 GREAT Reasons To Provide a 20% Down Payment when Buying a Home

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

There are many challenges that come into play when you’re in the market to buy a home. Buyers say the number one obstacle to home ownership is saving enough for a down payment, the amount that the buyer provides toward the purchase of their home. Exactly how much do you need to put down? Assuming Read More

20 Aug 2018

Mortgage brokers have solutions

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

A lot of people are getting stressed out by Canada’s new mortgage stress test. In the past, if you had a good sized down payment (ie 20%) someone with a low income could purchase a home even if they did not meet the debt level guidelines for insured mortgages of 32/40 . Later this was Read More

10 Aug 2018

Canada’s Jobless Rate Returned to a Four-Decade Low in July

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics Canada announced this morning that employment increased in July and the jobless rate fell .2 percentage points to 5.8%–returning to its lowest level since the 1970s posted earlier this year. The economy added a stronger-than-expected 54,100 net new jobs last month–its most significant advance this year. This gain, however, was driven by increases in 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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    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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