News

5 Apr 2019

March Jobs Report in Canada Finally Mirrors Weak Economy

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The employment report had long been a lone bright spot in an economy that had sunk across the board, so the March slump is not surprising. According to today’s jobs report from Statistics Canada, employment fell by 7,200 last month, mostly in full-time positions in the service sector. Canada’s jobless rate held steady at 5.8%, Read More

5 Apr 2019

Source of Funds

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Over the past several years, investigators have been working on an ongoing investigation relating to criminal money laundering in Canada. Looking at B.C. alone, billions of dollars have been laundered through B.C. casinos by criminal organizations and parked in high end B.C. real estate over the past decade or more. With government citing limited resources Read More

4 Apr 2019

7 Steps To Buying a Home

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

It’s important to understand the home buying process, so here’s a 7-step checklist. Step 1: Down Payment The hardest part to buying a home is saving the down payment (a gift from the Bank of Mom & Dad also works). • For purchases under $500,000 minimum down payment is 5%. • Buying between $501-999,000 you Read More

3 Apr 2019

How a side hustle can change your home-buying outlook

Posted by: Chris Cabel

Dominion Lending Centres - Accredited Mortgage Professional

So you want to buy a house, but you’re short on the downpayment. Have you ever considered getting into some sort of “side hustle.” The term side hustle describes something you do to make extra cash outside your full-time job. Anyone can make a hundred bucks on the side by literally doing anything – mowing Read More

2 Apr 2019

We’re not just a mortgage company

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Well, it finally happened. I was meeting with a financial advisor today and they looked at my business card and asked “Why does it say Dominion Lending Centres and not Dominion Mortgage Company?” I have been waiting 7 years to hear this question. I had an answer all ready for today. I said “that’s because Read More

27 Mar 2019

A bank that may not be familiar to you

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Quiz time! Who is the largest non-bank mortgage originator in Canada with over $100 billion dollars in mortgages under administration? Answer – First National Financial Corporation. If you’ve never heard of them before, don’t feel bad. The only way to get a First National mortgage is through the broker channel. They do not have any Read More

26 Mar 2019

Interest rate cut more likely than hike in 2019

Posted by: Terry Kilakos

Dominion Lending Centres - Accredited Mortgage Professional

When the Bank of Canada decided this month to keep its benchmark interest rates stable at 1.75%, it signalled the weakening economy makes it unlikely a rate increase is anywhere on the horizon. Inflation is not where it should be, we’re not in a deflation mode right now, but inflation is under control and there’s Read More

25 Mar 2019

2019 Budget Announcement – Policy or Politics?

Posted by: Dustin James

Dominion Lending Centres - Accredited Mortgage Professional

In the wake of the 2019 Budget Announcement, I find myself wondering if the Affordable Housing Incentive is good policy or just politics? Since the inception of Jan. 1 2018 “Stress Test” we have seen the struggle to qualify for mortgages countrywide. This didn’t just affect the major centers such as Toronto and Vancouver, its Read More

22 Mar 2019

Federal budget 2019: A closer look.

Posted by: Kevin Carlson

Dominion Lending Centres - Accredited Mortgage Professional DLC The Mortgage Firm based in Regina, SK

I have been fielding quite a few questions about the announcement of the new First-Time Home Buyer Incentive program. To begin with, these programs are not scheduled to begin until September of this year assuming no governmental changes. I have taken the time to break down the math a little further to show the potential Read More

21 Mar 2019

Nuts & Bolts of the Federal 2019 Budget | What you REALLY need to know!

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

On March 19, the Federal Government announced the official 2019 budget. One major topic on the discussion table (and one we were all holding our breath for) was the discussion of affordable housing in Canada. So just what happened on “Budget Day?” Here are the highlights of the 2019 Federal Budget: MORTGAGE INDUSTRY RELATED: CMHC Read More

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