I worked with Trenton to obtain a line of credit when other financial institutions couldn’t offer me the rate or loan to value amount I wanted.Trenton and the team at Connolly helped me secure a competitive interest rate, a higher loan to value amount with...
Weekly Digest ——— July 7th, 2023 BMO To Enter The Mortgage Broker Channel Starting January 1st, 2024, mortgage brokers will once again have access to Bank of Montreal. This now marks 3 of the big 5 banks to enter our space. 40% of all new mortgages are arranged through...
Weekly Digest ——— June 30th, 2023 Inflation Cools Inflation is down a full 1% month over month (now sitting at 3.40%). This is lowest inflation has been in 2 years. The 3-month core measure is also down to 3.60%. Over 60% of the slowdown can be attributed to stabilizing energy...
Weekly Digest ——— June 26th, 2023 What Happens Next? The chart below shows how much interest rate forecasts and projections have changed in the last 90 days. The “Time To First Cut” metric continues to get pushed back further into 2024. The blue/purple line shows March projections for rates The...
Great service, went above and beyond to find the best deal when our renewal offer was not so appealing. - Ben Brooks...
South of the Border The Federal reserve in the US took a break this week from hiking rates, but it has signalled for more hikes before the end of the calendar year. After 500 basis points of hikes, the Fed paused for the first time in...
We met a few mortgage brokers earlier, but with my partner being a freelancer they were thrown off and we weren’t confident about being able to secure a healthy mortgage. That’s till we were connected with Trenton. He came highly recommended and was able to...
Bank of Canada Hikes The Bank of Canada dropped a hammer to the real estate market with a 0.25% rate hike. After a 4 month pause to rates, the BoC took the 33% rate hike prediction from economists, and flipped odds betters with another increase. Our...
The Debt Ceiling? The “Debt Ceiling” is the maximum amount of money Congress allows the federal government to borrow to cover its bills (CNBC). Because the government spends more money than it collects in taxes, it must take out debt to pay its expenses. Prior to...
Rates Surge Here we go again. Lenders are dealing with a dramatic increase in their funding costs. This has spiked mortgage rates on all fixed rate terms. Yields are increasing due to various factors including; Fear of further central bank tightening due to inflation report (more on that...