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Posted by: Dean Kimoto
3 Advantages of a Pre-Approval. While getting pre-qualified can give you a ballpark estimate on what you can afford, getting pre-approved is where the real magic happens. Mortgage pre-approval means that a lender has stated (in writing) that you do qualify for a mortgage and what amount, based on submitted documentation of your current […]
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Canadian Inflation Surged to 7.7% In May Canada’s consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that the Bank of Canada is staring down the most dangerous burst of Inflation since it started targeting the consumer price index in […]
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Canadian Labour Market Is Much Too Tight–Adds To Inflation Pressure Today’s Labour Market Survey for May 2022 showed that hiring continued at a rapid pace last month in an increasingly tight labour market, driving the jobless rate to another record low and fueling a sharp acceleration in wage gains. The economy added 39,000 jobs in […]
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The Bank of Canada Hikes Rates Again By 50 bps. Another Jumbo Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back half-point increases are without precedent, […]
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Out-Sized Jump In Bank of Canada Policy Rate. Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be […]
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With prices rising all around (in Vernon we’re currently paying $1.839 per L) it makes you thankful you have investments in the market and own your home so you can feel any potential positive effects. If you don’t own investments or your own home, perhaps its time! The following is from Dominion Lending Centre’s chief […]
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Bank of Canada Hikes Policy Rate by 25 bps, and Sustains Current Bond Holdings. Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be […]
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Dean’s note: When you’re in a competitive market, its up you to and the advice of your realtor to decide on the best strategy to buy your new home. Here are some reasons why home inspections are important. Always best to go into a deal with as much knowledge as possible–about what you know AND […]
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Major Setback in Canada’s January Employment Report. No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions took a much larger toll in Canada than expected, […]
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When it comes to mortgages, the age-old question remains: “Should I go with a variable or fixed-rate?”. To make an informed decision, it is important to look at the type of buyer and the historical trends. When it comes to variable versus fixed-rate, it is important to understand what these mortgages are based off of. […]
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