Stop chasing the shiny objects. They are just a distraction away from what really matters. Getting a good mortgage rate is important but it’s not the only thing.
https://craigburn.com/wp-content/uploads/2023/05/th-1923563739.jpg402474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2023-05-03 13:14:022026-07-09 05:01:51It’s NOT always about the rate!
https://craigburn.com/wp-content/uploads/2023/05/th-1176651354.jpg315474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2023-05-01 13:52:332026-07-09 05:04:49Another one bites the dust
Many news outlets have published stories recently about the vast increase in the amount of private mortgages that Canadian’s are taking out in an effort to complete their real estate transactions or stay in their residences, increasing by 72% between 2019 and 2021. Many factors led to the increase in those taking out private mortgages, […]
Every once in a while people need a bridge to get them from point A to point B. This can be required for any number of reasons from divorce, less than perfect credit, unable to accurately prove income due to self employment, fix & flip or need to take advantage of an opportunity. Bridge loans […]
We all know that old expression “What goes up must come down”! In this day and age does this apply to our current variable rate mortgages. Before the Bank of Canada stepped in early last year our prime rate sat at 2.45%, we are currently at 6.7% after having gone up 8 times in the […]
The inflationary report for January 2023 was released by Statistics Canada yesterday and we appear to be doing better than we expected. The market consensus had predicted that inflation would drop to 6.1% from 6.3% in December 2022. Actually we dropped to 5.9% which was the lowest rate since last February. So while we saw […]
Two weeks ago I wrote about the new ban on foreign buyers here in Canada. You can read about it here. As new clarifications are coming out almost daily, here is an update based on what I have learned from my underwriters. If you do not yet have your permeant residency status then you will […]
If you are running a business then there is a good chance that you have an accountant to help you with your financials and your tax filings. You also have a lawyer who created your partnership agreement or created and filed your incorporation documents for you. You may also have someone doing your marketing & […]
The Bank of Canada did what many had predicted by increasing the overnight lending rate by .25% or 25 basis points. However it is their language in the press release that is providing some optimism going forward. This is key part “expects to hold the policy rate at its current level while it assesses the […]
Far too often we live our lives thinking of how we could change, undo or glorify events of our past. On the other side of things we also spend way too much time dreaming, planning or dreading what the future may entail. All of this is to the detriment of being present to what is […]
The numbers have just been released and our inflationary rate dropped from 6.8% in November to 6.3% in December. This is .1% below expectations. This is just proof that we are headed in the right direction but will it be enough for the Bank of Canada to put a pause on future rate increases. We […]
A ban on Foreign Buyers commenced on Jan 1st/2023. This prevents non citizens and non residents from purchasing real estate here in Canada for a period of 2 years. This was passed as part of C-19 on June 23 of 2022. The purpose of this was to cool our hot housing market. However I don’t […]
Stormy Weather
We could be in for some stormy weather economically at least if inflation does not rapidly slow down and cool down the economy as well.
More rate hikes???
Are we in for more rate hikes??? That is what we need to know and if we can all reign in our spending to help inflation go back down.
Jobless rate update
Both Canada and USA published their jobless rate update for April 2023. Too much strength in employment will keep inflation up.
It’s NOT always about the rate!
Stop chasing the shiny objects. They are just a distraction away from what really matters. Getting a good mortgage rate is important but it’s not the only thing.
Another one bites the dust
As another large US bank fails today, know that what causes this and how to protect yourself.
In the news
Many news outlets have published stories recently about the vast increase in the amount of private mortgages that Canadian’s are taking out in an effort to complete their real estate transactions or stay in their residences, increasing by 72% between 2019 and 2021. Many factors led to the increase in those taking out private mortgages, […]
Bridge Loan
Every once in a while people need a bridge to get them from point A to point B. This can be required for any number of reasons from divorce, less than perfect credit, unable to accurately prove income due to self employment, fix & flip or need to take advantage of an opportunity. Bridge loans […]
What goes up!
We all know that old expression “What goes up must come down”! In this day and age does this apply to our current variable rate mortgages. Before the Bank of Canada stepped in early last year our prime rate sat at 2.45%, we are currently at 6.7% after having gone up 8 times in the […]
January 2023 Inflation report
The inflationary report for January 2023 was released by Statistics Canada yesterday and we appear to be doing better than we expected. The market consensus had predicted that inflation would drop to 6.1% from 6.3% in December 2022. Actually we dropped to 5.9% which was the lowest rate since last February. So while we saw […]
Update to Foreign Buyers
Two weeks ago I wrote about the new ban on foreign buyers here in Canada. You can read about it here. As new clarifications are coming out almost daily, here is an update based on what I have learned from my underwriters. If you do not yet have your permeant residency status then you will […]
Commercial Mortgage Expert
If you are running a business then there is a good chance that you have an accountant to help you with your financials and your tax filings. You also have a lawyer who created your partnership agreement or created and filed your incorporation documents for you. You may also have someone doing your marketing & […]
Rate Announcement Jan 2023
The Bank of Canada did what many had predicted by increasing the overnight lending rate by .25% or 25 basis points. However it is their language in the press release that is providing some optimism going forward. This is key part “expects to hold the policy rate at its current level while it assesses the […]
Presence
Far too often we live our lives thinking of how we could change, undo or glorify events of our past. On the other side of things we also spend way too much time dreaming, planning or dreading what the future may entail. All of this is to the detriment of being present to what is […]
Inflation Rate update 01/17/23
The numbers have just been released and our inflationary rate dropped from 6.8% in November to 6.3% in December. This is .1% below expectations. This is just proof that we are headed in the right direction but will it be enough for the Bank of Canada to put a pause on future rate increases. We […]
Foreign Buyers
A ban on Foreign Buyers commenced on Jan 1st/2023. This prevents non citizens and non residents from purchasing real estate here in Canada for a period of 2 years. This was passed as part of C-19 on June 23 of 2022. The purpose of this was to cool our hot housing market. However I don’t […]