Dr. Sherry Cooper – Chief Economist, Dominion Lending Centres First Monthly Canadian Home Sales Gain This Year In June National home sales rose by 4.1% in June compared to May, the first such rise this year. Even so, June’s sales activity remains well below the monthly pace of the past five years (see chart). The […]

DLC BLOG Rate Holds Explained Have you ever heard of the term rate hold? If you have ever worked with a mortgage broker, chances are, you have! Rate holds are something that the majority of lenders offer to potential clients purchasing a new home who need a mortgage. Rate holds are generally not given out […]

DLC BLOG 10 SECRET “To-Do’s” After you file Consumer Proposal or Bankruptcy Many people go through challenges in life that affect their finances. Divorce, job loss, health issues top the most common reasons. I commend you on getting your finances sorted out and back on track. The moment you FILE that consumer proposal or bankruptcy […]

Dr. Sherry Cooper – Chief Economist, Dominion Lending Centres Poloz Opens The Door For More Rate Hikes Bank on Hold As Housing Expected to Continue to Slow As expected, the Bank of Canada hiked its key overnight rate this morning by 25 basis points to 1.5%. What wasn’t expected was the hawkish tone of the […]

DLC BLOG Construction Mortgages In case you didn’t know, construction mortgages are available through mortgage brokers! Even though the options for lenders are slim, it can still be accomplished. Unlike regular purchase mortgages where the funds are released on closing, the funds for construction mortgages are released in stages. With typically 15-month construction periods, here […]

DLC BLOG It’s all about the property With all of the rule changes imposed by the federal and provincial governments around mortgage financing and real estate it may be more difficult to access financing. But don’t take it personally – sometimes it’s not you it’s the property. When lenders underwrite your application for approval they […]

DLC BLOG What is the difference between a Mortgage Broker and a Mortgage Specialist With the importance of real estate in Canada, it is vital to understand how the various professionals in the sector operate when buying a home. Sooooooo… what is the difference between a Mortgage Specialist & a Mortgage Broker? At the surface […]

DLC BLOG All About Pre-Approvals Are you in the market for a new home? That’s great – but if you’re not already pre-approved from your mortgage broker, be sure to read on. Pre-approvals are very important for two reasons. They give you confidence in knowing that a specific amount of financing is available for you. […]

DLC BLOG Mortgage Protection Plan Insurance coverage is something that everyone is “pitched” at some point or another in their life. Unfortunately, a lot of us have a negative attitude towards insurance or warranty as it is perceived as being a cash grab. Yes, if you are purchasing a flat screen T.V., that extra 2-year […]

DLC BLOG Is your Line of Credit Killing your Mortgage Application? Some of the last round of changes from the government regarding qualifying for a mortgage were that if you have a balance on your unsecured line of credit, then to qualify for mortgage the lenders require that we use a 3% payment of the […]