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 […]
The way the calendar works this year means that most of the people involved in financing will be off, unavailable or on reduced hours until January 3rd 2023. With the way the financial markets have been this year the break will be well deserved and allow me to spend some time with my family and […]
Just like there are always last minute Christmas shoppers there are also last minute requests for financing before the lender, brokers and lawyers take a break for the holiday’s. While Christmas is now less than 10 days away, there is only 6 full banking days and two half days left before we complete 2022. So […]
With the most recent move by the bank of Canada, it may be time to look at the age old dilemma of fixed vs variable mortgages. Sure over the past few years it made mathematical sense to take and stay with a variable rate mortgage. However the tides may have turned and it is an […]
Well the Bank of Canada met this morning for the last time this year and hiked the overnight interest rate by 50 basis points or a half a percentage point. This means that those with variable rate mortgages and home equity lines of credit will have to pay more to service the debt. This is […]
So most of the economists in Canada are predicting a 25 to 50 basis point increase to the over night lending rate tomorrow. This will mean that prime rate which effects our variable rate mortgages and home equity lines of credit will also go up by the same amount. When you know something unpleasant is […]
Just because you have the biggest soap box and are the CEO of several large firms ( which shall remain nameless) does not mean that the financial regulators in your country have to listen to and follow your advice. Yes these recent rate hikes have been painful to business owners and consumers alike, but it […]
Slow progress is still progress. The latest economic figures are out and the Canadian GDP grew by .7% in the third quarter compared to the estimate of .4%. At an annualized rate the economy grew by 2.9% in the third quarter. While still not a recession the rate of growth has been shrinking over the […]
There is no cookie cutter or one size fits all solution when it comes to your mortgage requirements. Just like all clients are not suitable for the same mortgage product, I am equally not suitable with all clients. What works for one person may not nor will not work for another. This is why it […]
For this post I am not talking about your SIN number or your age, phone number, work or student ID number. For this I am taking about your credit score. In order to qualify for a mortgage you must know your credit score and if it is poor how to improve it quickly. Although you […]
https://craigburn.com/wp-content/uploads/2022/11/th-1155346330.jpg273373Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2022-11-18 13:18:572026-07-09 05:43:39Know your number
Sometimes clients have the desire, the income, the credit but not the means to make home ownership possible. It’s for this reason that Nova Scotia created the down payment assistance program. Through this program they will lend you interest free a down payment up to 5% of the purchase price of your new property. There […]
I am not talking about you being a potty mouth but the actual language and words that you use to communicate. More precisely I want to reference to what the US Fed chair Jerome Powell said at their most recent meeting this week. While Canada and the US are two distinct countries, we are pretty […]
Well the Bank of Canada gave us our lumps yesterday, another rate increase of 50bps. It’s our medicine and we have to take it so we can start to win this war against inflation. The increase wasn’t as bad as many had expected, I don’t think that it was due to any outside political pressure […]
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 […]
Christmas Break
The way the calendar works this year means that most of the people involved in financing will be off, unavailable or on reduced hours until January 3rd 2023. With the way the financial markets have been this year the break will be well deserved and allow me to spend some time with my family and […]
Last minute
Just like there are always last minute Christmas shoppers there are also last minute requests for financing before the lender, brokers and lawyers take a break for the holiday’s. While Christmas is now less than 10 days away, there is only 6 full banking days and two half days left before we complete 2022. So […]
Weigh your options
With the most recent move by the bank of Canada, it may be time to look at the age old dilemma of fixed vs variable mortgages. Sure over the past few years it made mathematical sense to take and stay with a variable rate mortgage. However the tides may have turned and it is an […]
Interest Rate Hike
Well the Bank of Canada met this morning for the last time this year and hiked the overnight interest rate by 50 basis points or a half a percentage point. This means that those with variable rate mortgages and home equity lines of credit will have to pay more to service the debt. This is […]
Buckle Up
So most of the economists in Canada are predicting a 25 to 50 basis point increase to the over night lending rate tomorrow. This will mean that prime rate which effects our variable rate mortgages and home equity lines of credit will also go up by the same amount. When you know something unpleasant is […]
Soap Box
Just because you have the biggest soap box and are the CEO of several large firms ( which shall remain nameless) does not mean that the financial regulators in your country have to listen to and follow your advice. Yes these recent rate hikes have been painful to business owners and consumers alike, but it […]
Slow Progress
Slow progress is still progress. The latest economic figures are out and the Canadian GDP grew by .7% in the third quarter compared to the estimate of .4%. At an annualized rate the economy grew by 2.9% in the third quarter. While still not a recession the rate of growth has been shrinking over the […]
Cookie Cutter
There is no cookie cutter or one size fits all solution when it comes to your mortgage requirements. Just like all clients are not suitable for the same mortgage product, I am equally not suitable with all clients. What works for one person may not nor will not work for another. This is why it […]
Know your number
For this post I am not talking about your SIN number or your age, phone number, work or student ID number. For this I am taking about your credit score. In order to qualify for a mortgage you must know your credit score and if it is poor how to improve it quickly. Although you […]
Down Payment Assistance
Sometimes clients have the desire, the income, the credit but not the means to make home ownership possible. It’s for this reason that Nova Scotia created the down payment assistance program. Through this program they will lend you interest free a down payment up to 5% of the purchase price of your new property. There […]
Language
I am not talking about you being a potty mouth but the actual language and words that you use to communicate. More precisely I want to reference to what the US Fed chair Jerome Powell said at their most recent meeting this week. While Canada and the US are two distinct countries, we are pretty […]
Take your lumps
Well the Bank of Canada gave us our lumps yesterday, another rate increase of 50bps. It’s our medicine and we have to take it so we can start to win this war against inflation. The increase wasn’t as bad as many had expected, I don’t think that it was due to any outside political pressure […]