Monika Lending

🏦 Breaking News: Bank of Canada Lowers Interest Rates Again!

The Bank of Canada has just announced a quarter-point rate cut, bringing the key interest rate down to 4.25%. This is the third consecutive cut as the central bank responds to easing inflation. 📉

With inflation sitting at 2.5% as of July, the central bank is aiming to support the economy while keeping prices stable. Governor Tiff Macklem has signalled the bank will continue to cut interest rates, so long as inflation continues to ease.

If you’re thinking about your mortgage or considering new financing options, now is a great time to review your situation. Reach out to your Mortgage Broker for personalized advice on how these changes could benefit you! 💬💡

🏦Ngân hàng Canada đã hạ lãi suất chuẩn 25 điểm cơ bản xuống 4,25%. Đây là lần cắt giảm lãi suất thứ ba của Ngân hàng kể từ tháng 3 năm 2020.

Mortgage Broker -
Free Consultation 📞778-775-7988

👉🏻Dưới đây là 5 lý do bạn nên sử dụng nhà môi giới thế chấp thay vì đến ngân hàng của mình:

1. Chuyên môn ✅: Các nhà môi giới thế chấp là những chuyên gia dày dạn kinh nghiệm, có kiến ​​thức chuyên sâu về thị trường thế chấp.

2. Tiếp cận nhiều người cho vay 💸: Không giống như ngân hàng hoặc người cho vay trực tiếp, người môi giới thế chấp có quyền tiếp cận mạng lưới người cho vay rộng khắp, bao gồm ngân hàng, hiệp hội tín dụng và người cho vay tư nhân. Điều này cho phép bạn tiếp cận với nhiều sản phẩm cho vay đa dạng hơn và lãi suất cạnh tranh.

3. Hướng dẫn được cá nhân hóa 🕴️: Các nhà môi giới thế chấp làm việc trực tiếp với bạn để hiểu các mục tiêu và sở thích tài chính của bạn. Họ cung cấp hướng dẫn được cá nhân hóa trong toàn bộ quá trình thế chấp, từ phê duyệt trước đến hoàn tất, đảm bảo bạn đưa ra quyết định sáng suốt trong mỗi bước.

4. Tiết kiệm thời gian và công sức ⏰: Việc tìm kiếm khoản thế chấp phù hợp có thể tốn thời gian và choáng ngợp. Các nhà môi giới thế chấp xử lý các công việc hợp pháp cho bạn, so sánh các lựa chọn, đàm phán các điều khoản và xử lý thủ tục giấy tờ, giúp bạn tiết kiệm thời gian và công sức quý báu.

5. Bạn không mất phí 💰: Trong hầu hết các trường hợp, làm việc với một nhà môi giới thế chấp sẽ không mất bất kỳ chi phí nào. Các nhà môi giới thường được người cho vay trả thù lao, vì vậy bạn có thể hưởng lợi từ chuyên môn và hướng dẫn của họ mà không phải trả bất kỳ khoản chi phí tự trả nào.

📲📞 Tư vấn miễn phí 778-775-7988
📧👉🏻 [email protected]

Here are 5 reasons you should use a mortgage broker vs going to your bank:

1. Expertise ✅: Mortgage brokers are seasoned professionals with in-depth knowledge of the mortgage market.

2. Access to multiple lenders 💸: Unlike banks or direct lenders, mortgage brokers have access to a wide network of lenders, including banks, credit unions, and private lenders. This gives you access to a broader range of loan products and competitive rates.

3. Personalized guidance 🕴️: Mortgage brokers work directly with you to understand your financial goals and preferences. They provide personalized guidance throughout the entire mortgage process, from pre-approval to closing, ensuring you make informed decisions every step of the way.

4. Save time and effort ⏰: Searching for the right mortgage can be time-consuming and overwhelming. Mortgage brokers handle the legwork for you, comparing options, negotiating terms, and handling paperwork, saving you valuable time and effort.

5. No cost to you 💰: In most cases, working with a mortgage broker won't cost you anything. Brokers are typically compensated by the lender, so you can benefit from their expertise and guidance without any out-of-pocket expenses.

OSFI announced they're maintaining the minimum qualifying rate (MQR) steady for uninsured residential mortgages at the greater of 5.25% or the mortgage contract rate plus 2%. They are confident this move will help slash residential mortgage delinquency rate.

We’ll continue engaging with OSFI on its ongoing review of B-20 and other policy matters that impact our industry.

Read their full statement here: https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/mqr20231212-nr.aspx

While some buyers are waiting on the sidelines, others are jumping in. What you might not realize is that there are benefits to buying in a slower market, such as;

📌 Less competition, which gives the buyer more edge.
📌Prices are coming down from the record highs we have seen, making homes more affordable.
📌What goes up must come down, and when rates do come down, those who got into the market today will be able to restructure their mortgage and save on interest in the long run.

Các chuyên gia dự đoán lãi suất thế chấp sẽ thấp hơn vào tuần tới khi lãi suất trái phiếu giảm. 👍

Experts predict lower mortgage rates next week as bond yields plunge - Mortgage Rates & Mortgage Broker News in Canada Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop in bond yields.

It is a common misconception that you need to put down 20% of the home’s purchase price as a down payment. While 20% down allows you to avoid mortgage loan insurance, many lenders offer mortgage programs with lower down payment options.

If your home will be owner-occupied, then you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%.

If you have any questions about the down payment options available to you and how to use them, reach out to your Mortgage Broker.

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

If your mortgage is scheduled for renewal this year, contacting your Mortgage Broker for assistance is crucial. Approximately one-third of mortgage holders have already faced rate increases, and according to the Bank of Canada's forecast, nearly every borrower can expect similar changes within the next three years. Given this information, it is essential to explore your options!

Mortgage Brokers have established relationships with banks, credit unions, trust companies, and lenders exclusively accessible through brokers. Submitting a single application gives you access to a wide range of choices and opportunities.

Reach out to your Mortgage Broker and secure the best possible outcome for your mortgage renewal.

The Bank of Canada's recent rate increase has caused concern among many Canadians regarding their mortgage payments. Some are attempting to decrease expenses, while others are taking on side gigs to meet the financial demands.

If you find yourself feeling uneasy about your ability to make your mortgage payments, reach out to your Mortgage Broker. They will carefully review your specific case and provide valuable guidance on suitable relief measures available to you. With their support and expertise, you can explore various options to help you meet the financial demands of your mortgage.

PRIVATE MORTGAGE LENDER UP TO 85% LTV. QUICK CLOSE! | Financial & Legal | Mississauga / Peel Region | Kijiji ➤PRIVATE LENDERS AVAILABLE TO FUND➠ 80% LTV ➠ 85% LTV ➤CONSTRUCTION COMMERCIAL MORTGAGES FROM 5% ➤UNSECURE BUSINESS LOANS 100K - 500K Fast Approval. ➤UNSECURE PERSONAL LOANS $1,000 - $35,000 ➤Fast Response... Quick Closings... ➤2nd Mortgages Same Day Approval! BUYING A NEW HOME? REFI...

https://www.mpamag.com/ca/specialty/alternative-lending/federal-budget-measures-help-fuel-demand-for-alternative-lending/410796

Monika Lending updated their address.

Easier Mortgage Rules Are No Fix for Canadas Housing Crisis
https://bloom.bg/2HXi4aj
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

Canada Is Making It Easier For People To Take Out Larger Mortgages | Better Dwelling

Canada Is Making It Easier For People To Take Out Larger Mortgages
https://bit.ly/3cgFDsM
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

betterdwelling.com Canadian real estate sales are soaring, and prices are accelerating quickly. Obviously, it’s the perfect time for the government to loosen credit conditions. The Department of Finance (DoF) announced changes to the way insured mortgages will be stress tested. The new changes go live on April 6, 20...

Globe editorial: If Canada falls into a coronavirus recession, Ottawa has the fiscal firepower to get us out

If Canada falls into a coronavirus recession, Ottawa has the fiscal firepower to get us out
https://tgam.ca/33EUNE9
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

theglobeandmail.com COVID-19 may bump the Canadian economy off course, but there’s no reason it has to alter the country’s trajectory, which is a steady upward curve

Sign the Petition

Renters Petition here.👍🏻

change.org Cancel rent and mortgage payments during Covid-19

Coronavirus: Canada’s big banks to allow mortgage payment deferrals

globalnews.ca It is unclear whether customers will be able to postpone mortgage payments interest-free.

OSFI Hints at Changes to the Mortgage Stress Test Qualifying Rate - Mortgage Rates & Mortgage Broker News in Canada

OSFI Hints at Changes to the Mortgage Stress Test Qualifying Rate
http://bit.ly/39e808x
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

canadianmortgagetrends.com The use of Canada's benchmark rate in administering the mortgage stress test is currently under review, according to OSFI.

UPDATE 2-Canada tweaks mortgage stress test in move that could boost housing market

UPDATE 2-Canada tweaks mortgage stress test in move that could boost housing market
https://reut.rs/2TiPc1A
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

reuters.com Canada on Tuesday announced a change to a three-year-old financial stress test d...

Canada Relaxes Mortgage Qualification Rules as Rates Fall

Canada Relaxes Mortgage Qualification Rules as Rates Fall
https://bloom.bg/3ccAyS7
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

bloomberg.com Finance Minister Bill Morneau is relaxing mortgage qualification rules to make it easier for home buyers to secure financing, a move that could give Canada’s real-estate market another boost.

Tax Time: Should You Contribute to an RRSP or Pay Down Your Mortgage?

Tax Time: Should You Contribute to an RRSP or Pay Down Your Mortgage?
http://bit.ly/2up1wVL
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

torontostoreys.com As the March 2 deadline to make an RRSP contribution approcahes, we ask financial experts if that money is better spent paying down your mortgage instead.

Rising interest rates and mortgage delinquencies may not go hand in hand — at least in Canada

Rising interest rates and mortgage delinquencies may not go hand in hand — at least in Canada
http://bit.ly/2GemQQ4
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

business.financialpost.com Haider-Moranis Bulletin: Regulators looking at changes to mortgage rules should base them on Canadian data, rather than on experiences in the U.S.

2020 home sales in Canada forecast to recover from "slump" | Urbanized

2020 home sales in Canada forecast to recover from slump
http://bit.ly/2sLhngn
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

dailyhive.com As another year begins, a new report is shedding light on what current and prospective homebuyers can likely expect when it comes to real estate in Canada.

Canadian economy added 35,200 jobs in December, unemployment rate falls | Investment Executive

Canadian economy added 35,200 jobs in December, unemployment rate falls
http://bit.ly/2TJw7aA
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

investmentexecutive.com Full-time employment rose by 38,400 jobs, while the number of part-time jobs fell by 3,200

Canadian buyers increasingly worried about qualifying for mortgage

Canadian buyers increasingly worried about qualifying for mortgage
http://bit.ly/2ulB3b2
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

mortgagebrokernews.ca More than half of Canadians see mortgage qualification as a barrier to home ownership

The Bank of Canada is expected to hold rates in 2020 — here’s why

The Bank of Canada is expected to hold rates in 2020 — here's why
http://bit.ly/2FRGb9u
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

business.financialpost.com The Financial Post’s Kevin Carmichael talks about what to expect from monetary policy in 2020

Reverse mortgage business is booming in Canada as seniors tap home equity to pay debts

Reverse mortgage business is booming in Canada as seniors tap home equity to pay debts
http://bit.ly/36eWJTJ
We offer services in Mortgage Services. Visit us at https://www.monikalending.com/ for more information.

vancouversun.com Canada’s largest reverse mortgage lender posted record originations last year