Robyn Fenske-The Place To Mortgage-Mortgage Alliance

The Bank of Canada today reduced its target for the overnight rate to 4.25%

As expected, inflation slowed further to 2.5% in July. The Bank’s preferred measures of core inflation averaged around 2 ½% and the share of components of the consumer price index growing above 3% is roughly at its historical norm. High shelter price inflation is still the biggest contributor to total inflation but is starting to slow

Excess supply in the economy continues to put downward pressure on inflation, while price increases in shelter and some other services are holding inflation up. Governing Council is carefully assessing these opposing forces on inflation.

Thinking about tapping into your home's equity? Here are the top 3 reasons Canadians are turning to Home Equity Lines of Credit (HELOCs):

1. **Flexible Access to Funds**: Use what you need, when you need it. Perfect for renovations, debt consolidation, or unexpected expenses.

2. **Lower Interest Rates**: Compared to personal loans or credit cards, HELOCs often offer much more favorable rates.

3. **Tax-Deductible Interest**: If you're using the funds for investment purposes, the interest paid may be tax-deductible.

Ready to explore your options? Let's chat!

Referrals are my life line!

I appriciate referrals more than your know! If you send me a referrral between July 1st and September 30th, you're automatically entered to wina $500 Visa Gift Card!

Don't Listen To The Rumours!

Self-employed poeple can get a mortgage just as easy as employees!

When going though a mortgage approval, self-employed people may have to offer a few more documnets depending on how they have their compay set up. But please don't let this discourage you, we work with lenders that have specifc programs for you!

Call today to chat!

Many people are unsure of how the mortage approval process works. Here is a quick rundown:

1. Fill out the application
2. Send all the documents requested
3. Get your final Pre-Qualification budget
4. Let your relator help you find your new home!
5. Let us guide you through the condition of financing
6. SIgn Papers at the lawyers

And it's really as easy as that!

If you'd like to chat about what products and processes I use, reach out today!

Canada's annual inflation rate cooled to a 40-month low of 2.5% in July, matching forecasts, and core inflation measures eased as well, data showed on Tuesday, Possibly keeping the Bank of Canada on track to cut interest rates again in September.

Meanwhile, shelter costs are still the main driver of inflation as Canadians face significantly higher rents and mortgage payments.

Grocery prices, which at one point were growing at a double-digit annual rate, are now rising at a much more modest pace. Last month, grocery prices were up 2.1 per cent from a year ago.

The central bank is scheduled to hold its next interest rate announcement on Sept. 4.

Let's start your home ownership journey now!

Lets start by getting an application in (LINK IN BIO) and gathering all your information to find the best mortgage product for you!

Call or Email today to set up a time to chat!

780-720-6850
[email protected]

Self Employed Listen Up!

Getting a mortgage can be easy, even is your self employed!

This can include sole proprietors, ltd. companies and cooperations.

Lets chat!

Did you know there are various sources of income that can help you qualify for a mortgage? As a mortgage broker, I can guide you through leveraging these additional income streams:

1. Rental Income: Earnings from rental properties can boost your mortgage application.

2. Part-Time Work or Freelance Gigs: Income from side jobs or freelance work can be considered if it's steady and documented

3. Bonuses and Commissions: Regular bonuses or commission-based earnings from your job can strengthen your application.

4. Investment Income: Earnings from investments like dividends or interest can be included.

5. Child Support,Alimony or Child Care Benefit: If you receive child support or alimony, these can be counted as income, provided they are documented and expected to continue.

6. Pension and Retirement Income: Regular pension or retirement disbursements can also support your mortgage application.

Ensuring you have all the necessary documentation is key. Need help navigating the mortgage process with these diverse income sources? Let’s connect!

Considering a mortgage and unsure whether to go with a fixed or variable rate? As a mortgage broker, I can help you understand the pros and cons of each option:

Fixed Rate Mortgage:
Stable Payments: Your interest rate and monthly payments remain constant throughout the term of the mortgage.
Budget-Friendly: Easier to plan and budget with consistent payments.
Peace of Mind: Provides security against potential interest rate hikes.

Variable Rate Mortgage:
Potential Savings: Typically starts with a lower interest rate compared to fixed rates.
Market-Responsive: Your rate fluctuates with market conditions, which could mean lower payments if rates drop.
Flexibility: Some variable rate mortgages allow for early repayment with fewer penalties.

Ultimately, the right choice depends on your financial situation, risk tolerance, and future plans. Want personalized advice to find the best fit for your needs? Let’s chat!
📲780-720-6850

Dreaming of a home that needs a little TLC? A Purchase Plus Improvements Mortgage might be just what you need!

With this unique mortgage option, you can:

1. Buy and Renovate: Secure financing to purchase a home and cover the cost of renovations all in one mortgage.

2. Increase Home Value: Invest in upgrades that enhance the value of your property from day one.

3. Affordable Payments: By rolling the renovation costs into your mortgage, you can spread out the payments over the life of the loan, making it more affordable than taking out a separate loan.

4. Convenient Process: Simplify your financing with one mortgage and one monthly payment.

Ready to turn a house into your perfect home? Explore the possibilities with a Purchase Plus Improvements Mortgage today!

The Bank of Canada cut its key interest rate for a second consecutive time on Wednesday, but warned the path back to two per cent inflation may be uneven and would ultimately determine the pace of future rate cuts

The central bank says its decision to lower its policy rate by a quarter percentage point was motivated by easing price pressures and weakening economic conditions.

Its key interest rate now stands at 4.5 per cent.

Are you thinking about buying a home or refinancing your current mortgage? Here’s why working with a mortgage broker can make a huge difference:

🏠 **Access to More Options**: Mortgage brokers have access to a wide range of lenders and loan products, giving you more options and better chances of finding the perfect fit for your needs.

🕒 **Save Time**: Instead of spending hours researching and comparing different lenders, your broker does the legwork for you, presenting you with the best options.

💰 **Expert Knowledge**: Brokers are mortgage experts who can guide you through the complex process, answer your questions, and help you avoid potential pitfalls.

💸 **Better Rates**: With their connections and negotiation skills, brokers often secure more competitive interest rates and terms than you might find on your own.

📄 **Simplified Process**: From application to closing, your broker handles the details, making the entire process smoother and less stressful.

Ready to make your home buying or refinancing journey easier? Contact me today and take the first step towards your dream home!

📲780-720-6850

Don't take the rate!!

If you have a renewal coming up please reach out to compare what products your current lender is giving you. It's also a good time to plan for your future: is their high interest debts you'd like to conolidate, a reno or perhaps a large lump sum payment!

Lets chat!

780-720-6850

INFLATION RATE UPDATE

Canada's annual inflation rate fell to 2.7 per cent in June, with Statistics Canada(opens in a new tab) largely attributing the deceleration to slower year-over-year growth in gasoline prices.
The agency reported Tuesday that gasoline prices rose 0.4 per cent in June following a 5.6 per cent jump in May. Excluding gasoline, the consumer price index rose 2.8 per cent in June.
The annual inflation rate for May was 2.9 per cent which was up from 2.7 per cent in April.

Applying for a mortgage gas never been easier!

1. Fill out our online application
2. By phone
3. In person

I am here to walk you thorugh the steps and get you into your homeownership future!

Happy Father’s Day to all those dads who are rocking it out there!

We are so lucky to have you show our kids a supportive role and I would t want anyone else by my side ❤️

As a mortgage broker, one of the common requirements we discuss with clients is the need to provide a 90-day history of your down payment funds. You might wonder why lenders insist on this and how it impacts your mortgage application. Here’s a breakdown to help you understand the importance of this requirement.

1. **Anti-Money Laundering Regulations**
Canada has stringent anti-money laundering laws to ensure that funds used in property transactions are not derived from illegal activities.

2. **Verification of Fund Sources**
Lenders need to confirm that the down payment is coming from your own resources and not from undisclosed loans or borrowed money, which could impact your ability to repay the mortgage.

What Do Lenders Look For?

When reviewing your 90-day down payment history, lenders will check for:
**Consistency in Deposits:** Regular deposits that align with your income and savings patterns.
**Large Deposits:** Any large, unexplained deposits will require additional documentation to explain their source.
**Gifted Funds:** If part of your down payment is a gift, you’ll need a letter from the donor confirming that the money is a gift and not a loan.

We are so much more than just a Mortgage Broker.

We are here to help guide you through the entire home buying process with our trusted referall partners. I am here at any time before and after your mortgage funds to help you on your journey!

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points. Recent data has increased our confidence that inflation will continue to move towards the 2% target. Nonetheless, risks to the inflation outlook remain.

The countdown is on! I am so excited for our upcoming exclusive event for The Place To Mortgage clients. Can't wait to see you there!!

Canada's consumer price index cooled to 2.7 per cent in April, down from 2.9 per cent in March, led by the slower growth of food prices.

Though food prices still rose in April, they did so at a slower pace of 1.4 per cent compared to 1.9 per cent in March, the data agency said. Price growth for food bought from restaurants also eased.

Meanwhile, consumers paid 6.1 per cent more for gas in April after a 4.5 per cent increase in March.

The Bank of Canada's preferred measures of core inflation also eased — a happy sign for the central bank, which will make its next interest rate decision on June 5.

Special post for my mama🖤

I'm going to be brining these 90's mom vibes into my life now!

#90's

Happy Mothers day to all the rockstar moms out there!