The Bank of Canada is widely expect to raise interest rates again this morning. If they come through with another 50 basis points increase, this will be the 3rd increase in a row, amounting to 125 basis points in increases this year. Yes it is true that inflation is at 30 year highs, the cost […]
People are complaining about how high mortgage rates have risen in the past 6 months. While not realizing how good that we had it over the past 3 years, where fixed rates dropped as low as 1.79% for 5 years. Things have changed a lot with the increases in bond yields which drives the fixed […]
The consumer price index ( how we track inflation) hit a 31 year high for the month of April at 6.8%. Up .1% from March. The increase is a result of higher food and housing costs. The causes of this stem from the war in Ukraine and supply chain disruptions in China due to Covid. […]
It’s not often when I will link to another article from someone else in my field. However I am going to do that today. Fellow mortgage broker David Larock wrote a compelling piece in move smartly about the current fixed vs variable debate. In the article he makes sound points as to why I am […]
After reading the Bank of Canada’s press release after it’s last rate announcement on April 13th, it is quite clear that they believe that we will be in a higher inflationary zone till almost 2024. What this means is that we have definitely not see the last of the Bank of Canada rate hikes. Our […]
Buying a home can sometimes be a very emotional decision. This is where you will be spending a great deal of your time so you want to get as many things right as possible. However it is also a good idea to take a step back and examine the numbers, because long after the initial […]
https://craigburn.com/wp-content/uploads/2022/04/external-content.duckduckgo-3-3.jpg357474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2022-04-23 15:55:482022-04-23 15:55:51It’s about the numbers
Just incase you were not watching the 5 year fixed insured AAA rate went up yesterday from 3.84% to 4.09% or an increase of 25 basis points. This is an increase of 120 basis points or 1.2% since the first of February. So it’s no wonder that the core inflation rate in Canada increased by […]
Blind bidding as it refers to real estate is when you put in an offer on a house with no idea what others have offered on the same property. You don’t see blind bidding at art of luxury car auctions yet they still seem to be getting record amounts for both of those products. So […]
Well the inflation numbers for March 2022 just came out this morning and we are now at 6.7% ( up from 5.7 for February) or the highest rate since January of 1991. All the categories that Statistics Canada tracks from food, energy, shelter and transportation were all up. The largest increase is the 11.2% increase […]
With the spike of interest rate increases the Bank of Canada is hoping for a soft landing to our economy instead of a recession. They want people to gradually slow their spending as rates increase so demand for products and services will decline and the prices of these commodities can reduce as a result. That […]
As those who have read my posts before you know that I have read and attended the Dale Carnegie’s programs. In fact I have written about his first principal the 3 C’s before, and you can check it out here. Today I am going to touch on another one of his principals and how I […]
At 11am Atlantic Standard Time it is widely expected that the Bank of Canada will introduce the latest change in the overnight lending rate to combat inflation. Although I am starting this post prior to the announcement, I will hold off publishing it till it actually has been announced. It is widely expected to increase […]
With the cost of housing still increasing by the day, it is vitally important to maximize the amount that you can qualify for when applying for your mortgage. Through most of the pandemic we qualified based on the stress test rate of 5.25%. Now that we are in an interest rate increasing market we have […]
https://craigburn.com/wp-content/uploads/2022/04/external-content.duckduckgo-5-1.jpg315474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2022-04-12 12:14:362026-07-09 07:03:57Hack the Stress Test
In terms of mortgages there are basically two types for the standard A banks, there is high ratio and there is conventional which is when you put down 20% or more down payment. However here I want to talk about being unconventional about looking for solutions to uncommon problems that people are faced with today […]
Yesterday the federal government tabled the 2022 federal budget. While it seems that we are getting away from the spend your way out of the pandemic, this one seems more focused on the need to improve access to housing for Canadian’s. Here is how it is going to effect the real estate sector. They will […]
BOC June Meeting
The Bank of Canada is widely expect to raise interest rates again this morning. If they come through with another 50 basis points increase, this will be the 3rd increase in a row, amounting to 125 basis points in increases this year. Yes it is true that inflation is at 30 year highs, the cost […]
Peak Rate
People are complaining about how high mortgage rates have risen in the past 6 months. While not realizing how good that we had it over the past 3 years, where fixed rates dropped as low as 1.79% for 5 years. Things have changed a lot with the increases in bond yields which drives the fixed […]
New Record
The consumer price index ( how we track inflation) hit a 31 year high for the month of April at 6.8%. Up .1% from March. The increase is a result of higher food and housing costs. The causes of this stem from the war in Ukraine and supply chain disruptions in China due to Covid. […]
Smart Advice
It’s not often when I will link to another article from someone else in my field. However I am going to do that today. Fellow mortgage broker David Larock wrote a compelling piece in move smartly about the current fixed vs variable debate. In the article he makes sound points as to why I am […]
Predictions
After reading the Bank of Canada’s press release after it’s last rate announcement on April 13th, it is quite clear that they believe that we will be in a higher inflationary zone till almost 2024. What this means is that we have definitely not see the last of the Bank of Canada rate hikes. Our […]
It’s about the numbers
Buying a home can sometimes be a very emotional decision. This is where you will be spending a great deal of your time so you want to get as many things right as possible. However it is also a good idea to take a step back and examine the numbers, because long after the initial […]
Rate increased
Just incase you were not watching the 5 year fixed insured AAA rate went up yesterday from 3.84% to 4.09% or an increase of 25 basis points. This is an increase of 120 basis points or 1.2% since the first of February. So it’s no wonder that the core inflation rate in Canada increased by […]
Blind Bidding
Blind bidding as it refers to real estate is when you put in an offer on a house with no idea what others have offered on the same property. You don’t see blind bidding at art of luxury car auctions yet they still seem to be getting record amounts for both of those products. So […]
March 2022 Inflation numbers
Well the inflation numbers for March 2022 just came out this morning and we are now at 6.7% ( up from 5.7 for February) or the highest rate since January of 1991. All the categories that Statistics Canada tracks from food, energy, shelter and transportation were all up. The largest increase is the 11.2% increase […]
Soft Landing
With the spike of interest rate increases the Bank of Canada is hoping for a soft landing to our economy instead of a recession. They want people to gradually slow their spending as rates increase so demand for products and services will decline and the prices of these commodities can reduce as a result. That […]
Personalization
As those who have read my posts before you know that I have read and attended the Dale Carnegie’s programs. In fact I have written about his first principal the 3 C’s before, and you can check it out here. Today I am going to touch on another one of his principals and how I […]
Bank of Canada policy announcement
At 11am Atlantic Standard Time it is widely expected that the Bank of Canada will introduce the latest change in the overnight lending rate to combat inflation. Although I am starting this post prior to the announcement, I will hold off publishing it till it actually has been announced. It is widely expected to increase […]
Hack the Stress Test
With the cost of housing still increasing by the day, it is vitally important to maximize the amount that you can qualify for when applying for your mortgage. Through most of the pandemic we qualified based on the stress test rate of 5.25%. Now that we are in an interest rate increasing market we have […]
Unconventional
In terms of mortgages there are basically two types for the standard A banks, there is high ratio and there is conventional which is when you put down 20% or more down payment. However here I want to talk about being unconventional about looking for solutions to uncommon problems that people are faced with today […]
2022 Federal Budget
Yesterday the federal government tabled the 2022 federal budget. While it seems that we are getting away from the spend your way out of the pandemic, this one seems more focused on the need to improve access to housing for Canadian’s. Here is how it is going to effect the real estate sector. They will […]