Mortgage Group Canada

As was widely expected, the Bank of Canada today lowered its benchmark interest rate by 25bps, bringing it to 4.50%

Let’s chat about how this affects your current mortgage or increases your purchasing power on a new home.

www.mortgagegroupcanada.com

Did you know today is National Day of Unplugging ? 🔌
If your bank unplugged today, know that a mortgage broker is always available to answer your questions.

Call, text or email for all your mortgage needs

Collection Agencies - Their Bark is worse than their Bite! Collection agencies in Canada are notorious for their loud bark and agressive collection tactics. If you have seen a collection on your credit report or you ...

Deposit funds in your RRSP or put the money towards your mortgage? Let’s talk about the benefits of both.

Message to learn more.

Congratulations Amber Easthope on a fantastic, innovative and inspiring first year. Well deserved rookie of the year award for TMG Alberta North 👏🏻

The Bank of Canada today increased its target for the overnight rate to 4.25%
This 0.50% increase is the final increase of 2022.

If you are in a fixed rate mortgage, this does not affect your rate, but if you are in a variable rate mortgage, your rate will increase by half a percent in the coming days.

Do you have questions about your mortgage ? Call, text or email 📱

www.mortgagegroupcanada.com

Congratulations Debbie Thomas, Founder & Partner TMG The Mortgage Group, for being named in the CMP Mortgage Global 100 list! A very well deserved and earned acknowledgement for all you have done for TMG and the mortgage industry in Canada.

Canadian Mortgage Professional (CMP) has joined Mortgage Professional Australia (MPA) and its sister publications Mortgage Professional America, Mortgage Introducer, and NZ Adviser in releasing the fourth annual 2022 Mortgage Global 100, a list highlighting the best of the best within the industry who are driving forward innovation and striving to improve the sector.
The latest Mortgage Global 100 list features a combination of renowned names and leaders within the market who have been making incredible advancements at their own companies, lifting associations to new heights, offering education to improve the industry, or championing key issues that seek to carry the sector to a new era

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First National Bank, Thank you for taking the time to connect with some of our fabulous Brokers before the AMBA Development Summit 2022

Taking the day to develop my Mortgage Broker skills at the AMBA development Summit 2022


Working on the Energy Equation with Michelle Cederberg

Lunch with was the perfect way to kick off our Alberta Mortgage Broker Association Development Sessions in Calgary this week

5 easy steps to getting Pre-Approved for a new mortgage 👣

• Contact ME! Text, email, call or DM
• Complete the online profile at www.myonlinemortgage.ca or give me a call and we can complete it together • Upload or email your supporting documents
• Wait for review - this typically takes 24hrs
• Take your official Pre-Approval letter to your favorite Realtor and start shopping for your new home !

It’s easy + free

Let’s talk about your Mortgage !
780.777.5383
[email protected]

Be kind.

Here is a look at the Bank of Canada Rate Hike and how it affects you if you have a variable rate mortgage •

Reach out if you have any questions.

Wishing you a wonderful Canadian Thanksgiving

End all forms of persecution.

Keep Calm + Mortgage On!
The prime lending rate has once again gone up.
If you are in a fixed rate, this does not affect you. If you are in a variable rate, your payment will likely increase, but don’t expect these higher rates to last forever.

Remember, 4.5% interest owing a property is much better than 100% interest renting a property.

Contact me + my team if you have any questions about your mortgage

Happy Labour Day from my favorite group… The Mortgage Group 🧡

Today’s TMG Patio Series hosted by and let me tell you… the weather was OPTIMUM ☀️

Thank you to our delightful BDM Cindy for hosting the event and giving us the chance to meet our very knowledgeable underwriter Darren.

Are you paying too much for home insurance ?

Get a quote from Surex and receive a $25 gift certificate just for checking !

Enjoying a day at the Alberta Mortgage Broker conference in the Cambridge Hotel + Conference Centre

Today we are reconnecting with our industry, our colleagues, and our association.

“Tell me you’re a small town mortgage broker without telling me you’re a small town mortgage broker…” 😂😀😂

The Bank of Canada has just raised it’s key lending rate by 50 basis points to 1.00%

To give you some history on where the key lending rate has been over the last decade take a look below

2012 - 1.00%
2015 - 0.50%
2017 - 0.75%
2018 - 1.00%
2018 - 1.25%
2018 - 1.50%
2018 - 1.75%
2020 - 1.25%
2020 - 0.75%
2020 - 0.25%
2022 - 0.50%
Today - 1.00%

Key lending rate has fluctuated over the last 10 years by .25%

It’s been higher than 1.00% and lower than 1.00% but today, it is at 1.00%

We haven’t seen an increase by .50% (usually only increases by .25%) since the year 2000, so it’s BIG NEWS but really not a big deal.

Average fixed rate = 3.89%
Average variable rate = 2.30%

There is plenty of room for the prime lending rate to increase and still save vs taking a fixed rate.

If you are currently in a fixed rate,
Don’t panic, this doesn’t affect you.

If you are currently in a variable rate,
Don’t panic, this rate increase is expected to happen when you choose a variable rate, but you are still paying way less than the fixed rates available right now.

If you have more questions…

Call me, let’s talk about your mortgage.

Find my contact info at mortgagegroupcanada.com

Thank you to all of our Underwriters in the mortgage industry 🧡

At a time when the market is hot 🔥 a quick turnaround on a mortgage approval is often the deciding factor on if clients offer is accepted + they can purchase a home.

Underwriter Appreciation day is the perfect time to remind your of the mortgage industry how much you appreciate them

Take a minute today + THANK your favorite underwriter for the hard work they do for you ~

When an underwriter is quick to pickup your file

Or accepts the challenge to find yours in the pile

When they hop on a call… just to clarify

Or ask for more docs, to w**d out any lie

They are doing their job just like you and me

So today, we thank them ~

Underwriters are the real MVP 🧡

Bodega to end the night 🤍

International Women’s Day

Today we celebrated the amazing women who lead + all the incredible women of this world 🌎

The Bank of Canada raising the interest rate from 0.25% ➡️ 0.50% has gotten a lot of consumers attention, but what does it mean?

The prime lending rate has not increased in 4 years, and usually fluctuates quite often by 0.25% at a time.

The Cole’s notes:
- this is no big deal
- this increase only affects variable rate mortgages, fixed rates were not affected by this increase
- variable rates are still over a full percentage lower than fixed rates, so they are still low
- new BOC prime lending rate is 2.7%
- variable rate mortgage discounts are at 1% for most mortgages, making the average variable rate 1.7%

Yes! Variable mortgage rates are now at approx 1.7% depending on your property, credit score + loan vs. value

Mortgage rates are low, no need to panic !

Do you have more questions?
Call me, let’s talk about your mortgage.

~ Katelyn Smith, Mortgage Broker with

TMG ALBERTA Ski Conference 2022