News

15 May 2018

The Spring Housing Market Is Off To A Slow Start

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

April is usually the start of a spring housing market ramp-up, but this year the new mortgage stress test and rising mortgage rates have continued to be a negative factor. Those expecting an early-stage pick-up marking an end to the payback for sales pulled forward into the fourth quarter of last year have been sorely Read More

15 May 2018

Brokers More Important Than Ever

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Nearly half of all existing mortgage in Canada will be up for renewal in 2018. Stated in a Financial Post article by Armina Ligaya, CIBC Capital Markets estimates 47% of all existing mortgages will need to be refinanced in 2018. All of this coming on the heels of rising interest rates and changes to key Read More

14 May 2018

It’s not all about the rate: Amortization & Renewals

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Have you spoken to a mortgage broker lately? When it’s time to renew your mortgage you have the freedom to do a number of things that are not possible at any other time without a financial penalty. Renewal time is an opportunity. Have you looked at your mortgage amortization lately? Let’s say that you started Read More

11 May 2018

Jobless Rate Remains At 40-Year Low As Wage Growth Accelerates

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics Canada announced this morning that employment was virtually unchanged in April (down 1,100) following a surge in March and the unemployment rate remained at 5.8%–its lowest level in four decades. Wages growth accelerated signalling tight labour markets. April’s stall was only the second time since mid-2016 that the job market did not grow. On Read More

10 May 2018

5 Things to know before buying a Rural Property

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

After several years as a home owner, my friend was set to buy the home of his dreams. He always wanted to own an acreage outside of town. He had visions of having a few animals, a small tractor and lots of space. As a person with experience buying homes, he felt that he was Read More

9 May 2018

Why We Chose a Mortgage Broker

Posted by: Jeremy Deutsch

Communications Advisor

For Arthur Dubreuil, the recent purchase of his new house will sound like a similar story for many homebuyers. Looking to upsize to meet the needs of his growing family, the Toronto area resident looked east outside the city for a more affordable option. What he found was a perfect affordable 2,000 square-foot home on Read More

8 May 2018

Fake-ish News

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Fake(ish) News: ‘Mortgage Rates Went Up Last Week Real News: On April 27th TD increased their ‘posted rate’. What’s a posted rate? It’s the list price, the MSRP — you know that price that nobody actually pays…’rack rates’. Posted is not Prime, Prime is not Posted – there is no connection between Posted and Prime. Read More

4 May 2018

What is a Refinance?

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Refinancing a home is one of those things where people understand what it is but have trouble explaining how it works. To put it simply, refinancing your home allows you to access the equity you have built up, by changing the mortgage amount. Let’s say you bought a $300,000 condo and you paid 20% ($60,000) Read More

3 May 2018

All roads lead to June -Our House Magazine

Posted by: Jeremy Deutsch

Communications Advisor

What do you do when you’re tired of the 9-5 daily grind and want to strike out on your own? For gal pals April Brown and Sarah Sklash, it was obvious – buy an aging motel in the country and renovate it. If it sounds like a business plan that could never work, these two Read More

2 May 2018

Rates Held Steady Now, But Gradual Hikes Signalled

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The Federal Open Market Committee (FOMC) met this week for the second time under the chairmanship of Jerome Powell. In a unanimous decision, the Committee left the target range for the federal funds rate unchanged at 1-1/2 to 1-3/4 percent. Unlike the Bank of Canada, which has a single objective of targeting inflation at roughly Read More

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