Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank of Canada rate cut on March […]

It was only days ago that the Federal Government announced that it would provide increased flexibility to lenders to defer mortgage payments during the COVID-19 crisis. Shortly thereafter, the big 6 banks announced they would be allowing up to 6 months of mortgage payment deferrals to assist those impacted by COVID-19. The monoline lenders followed […]

Many of our clients, their family and friends are looking for information and so we hope you find the following to be helpful. If you have any questions about the following I am available and I will do my best to help you in this difficult time.  Each lender has a separate telephone number and or email […]

It is very common for people to believe that the rate is the most important consideration when selecting a mortgage product. In many cases, this is a reasonable assumption, many times customer are deciding between mortgage products that are very similar in rate. In this case, as in most, understanding the terms of the mortgage […]

Canada’s reverse mortgage debt grew by 1.33% month-over-month in August to reach yet another new high of $3.83 billion, according to latest data from the Office of the Superintendent of Financial Institutions. This represented a 26.23% annual increase, with $50.63 million of the total volume coming from August alone. Over the past year, Canadian boomers […]

Remembrance Day was first observed in 1919 throughout the British Commonwealth. It was originally called “Armistice Day” to commemorate armistice agreement that ended the First World War on Monday, November 11, 1918, at 11 a.m.—on the eleventh hour of the eleventh day of the eleventh month. The poppy is the symbol of Remembrance Day. dcarlson@jencormortgage.com […]

With all the news we have seen on the election, I thought I would sum it up from a mortgage industry perspective. What the Liberal win means for your mortgage: We will see the continuation of the First Time Home Buyers’ Incentive. Check out the link for more information here: Property Transfer Tax modifications were on […]

Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing measure. For example, if you have a […]

There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As a mortgage broker, here’s how I will help […]