News

17 May 2016

Stop It!!!

Posted by: Pam Pikkert

Dominion Lending Centres - Accredited Mortgage Professional

Image Source: www.stockarch.com Well folks I just do not get it. I do not understand why smart person after smart person continues to sign on the dotted line for the first offer they are given upon mortgage renewal. Case in point that has brought this to a head for me was just a couple weeks Read More

16 May 2016

Why a Big Down Payment is Better

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

First time home buyers look to their families, the media and the Internet for all their information on how to buy a home. As a result, they know that they need 5% of the total home purchase price to buy the home of their dreams. While this is true, there are a few things that Read More

13 May 2016

Canadian Capital Investment firm FCF Capital invests in Canada’s largest mortgage network company

Posted by: Dave Teixeira

VP Marketing, Public Relations and Communications

Vancouver, BC – Dominion Lending Centres (DLC), Canada’s largest mortgage network has agreed to sell a majority 60% interest to FCF Capital, a Calgary-based private investment firm. The transaction ensures that DLC will operate independently and that co-founders Gary Mauris, President and CEO, and Christopher Kayat, Executive Vice President, will continue to lead the day-to-day Read More

6 May 2016

Canada’s Jobs Weakness a Payback for March Surge

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

March saw employment gains of 41,000 (+0.2%), the strongest reading in five months, with Alberta (of all places) enjoying the largest improvement. This lowered the unemployment rate by 0.2 percentage points to 7.1%. So it is not surprising to see job weakness in April report. Indeed, employment was virtually unchanged last month (-2,100 or 0.0%) Read More

6 May 2016

5 Common Myths About Credit Scores

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

Because the top secret formula has never been released there are common myths that are floating around about the ones credit score, here are the top 5. 1. Too Many Credit Cards Will Hurt My Credit Score Actually, cancelling healthy active cards or accounts hurts more as all of the payment history is lost along Read More

5 May 2016

Banks and Credit Unions – Life and Disability Insurance

Posted by: Shirl Funk

Dominion Lending Centres - Accredited Mortgage Professional

I continue to hear from my clients that their own bank or credit union is stating they HAVE to purchase life and disability insurance in order to be approved for their mortgage. This is called tied selling. “ Tied selling is when a financial institution requires a client to transact other business with the same Read More

4 May 2016

Property Transfer Tax Changes In B.C.

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Short Version There are no changes to the first-time home buyer exemption limits (with the exception of point #2 which includes first time buyers). All buyers (first-time buyers and repeat buyers) are now exempt from PTT on purchases of NEW homes up to $750,000 in value (think properties on which GST is being charged). Note: Read More

3 May 2016

Home Renovations: Reality vs. Television

Posted by: Alisa Aragon

Dominion Lending Centres - Accredited Mortgage Professional

Home renovation shows are very popular today and are one of our favorite shows to watch. These shows are not only entertaining but tend to lead you to think how easy and quickly is to renovate your home. And we know that viewers enjoy the shows more when they are filmed in Canada as you Read More

2 May 2016

Difference Between Fixed and Variable Rates

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

The two most frequently asked questions I get are: 1. What are your best rates? 2. What is the difference between fixed and variable rates? Question #1 is actually more complicated than question #2. Why? Because rates are not the only thing you should be looking at when deciding what mortgage product to contract to. Read More

29 Apr 2016

Canada Starts to Outperform the U.S.

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Crude oil prices are poised for their biggest monthly gain in seven years, hitting a new high for 2016, and as day follows night, the Canadian dollar is up sharply–just shy of 80 cents U.S. Today’s February GDP report was not as weak as expected following the blowout number in January, leaving Canada likely to Read More

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