E54 - Cut To The Chase: Bank Of Canada’s Rate Decrease The Mortgage Life podcast

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e54 - Cut to the Chase: Bank of Canada’s Rate Decrease

منذ عام واحد 11:50

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المحتوى المقدم من The Mortgage Life. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة The Mortgage Life أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

The Bank of Canada has once again dropped their key policy rate, this time by .25%. This rate drop will most likely cause Canadian banks to drop their prime rate by .25%, which would bring prime to 5.2%.

For those with Variable Rate mortgages, Adjustable Rate mortgages, and Home Equity Lines of Credit - you will see a change to your mortgage (either payment or amortization period).

For those with Fixed Rate mortgages, there will be no change. Just a reminder that in general, fixed rates follow long term bond yields and are not directly impacted by the Bank of Canada rate changes like variable and adjustable rates are.

Lots of information to unpack in today's announcement. Have a listen to this episode, and reach out to us if you have any questions!

Next rate announcement is March 12th, come back and listen!

… continue reading

75 حلقات

#Business News #News #Mortgage Life

The Mortgage Life

The Mortgage Life podcast artwork

e54 - Cut to the Chase: Bank of Canada’s Rate Decrease

The Mortgage Life

published منذ عام واحد

مشاركة

MP3•منزل الحلقة

المحتوى المقدم من The Mortgage Life. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة The Mortgage Life أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

The Bank of Canada has once again dropped their key policy rate, this time by .25%. This rate drop will most likely cause Canadian banks to drop their prime rate by .25%, which would bring prime to 5.2%.

For those with Variable Rate mortgages, Adjustable Rate mortgages, and Home Equity Lines of Credit - you will see a change to your mortgage (either payment or amortization period).

For those with Fixed Rate mortgages, there will be no change. Just a reminder that in general, fixed rates follow long term bond yields and are not directly impacted by the Bank of Canada rate changes like variable and adjustable rates are.

Lots of information to unpack in today's announcement. Have a listen to this episode, and reach out to us if you have any questions!

Next rate announcement is March 12th, come back and listen!

… continue reading

75 حلقات

#Business News #News #Mortgage Life

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e55 - Assess, Address, & Strategize: Making Sense of BC Assessments & Mortgage Statements 19:08

منذ 11 يومًا19:08

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19:08

The start of a new year is a great time to take stock of everything that happened in the past year... with your mortgage! In this episode, we break down two important documents that you'll be receiving shortly - your BC Assessment and your mortgage statement. Find out why you'll want to review these documents and listen for important tips to ensure accuracy and potentially save some money. Have a listen!!!…

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e54 - Cut to the Chase: Bank of Canada’s Rate Decrease 11:50

منذ 4 weeks11:50

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11:50

The Bank of Canada has once again dropped their key policy rate, this time by .25%. This rate drop will most likely cause Canadian banks to drop their prime rate by .25%, which would bring prime to 5.2%. For those with Variable Rate mortgages, Adjustable Rate mortgages, and Home Equity Lines of Credit - you will see a change to your mortgage (either payment or amortization period). For those with Fixed Rate mortgages, there will be no change. Just a reminder that in general, fixed rates follow long term bond yields and are not directly impacted by the Bank of Canada rate changes like variable and adjustable rates are. Lots of information to unpack in today's announcement. Have a listen to this episode, and reach out to us if you have any questions! Next rate announcement is March 12th, come back and listen!…

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SPECIAL FEATURE December 11, 2024 -Bank of Canada UPDATE 10:51

منذ 12 weeks10:51

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10:51

Christmas presents being given out by the Bank of Canada? Yup, that's right! The Bank of Canada announced today that they're cutting the overnight rate by 1/2% to 3.25% today. That means variable rate mortgage clients and those with lines of credit should see some relief in their rates shortly. Tune in to get our take on what happened and where we're going in 2025.…

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e53 - CoSigner VS Guarantor 21:50

منذ 13 weeks21:50

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21:50

Co-Signers and Guarantors – what exactly are they and when would you need them? In this episode we chat about potential options of including cosigners or guarantors when you can’t qualify for the mortgage on your own. We also review what is required, their legal obligations, and how easy (or difficult) it is to remove them at a later date. If you have a co-signer or guarantor on your mortgage, tune in to get all the details.…

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e52 - Fall Summer-y 53:26

منذ 17 weeks53:26

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53:26

From policy changes to interest rates to home values, this in an enlightening chat with Dustan Woodhouse, author of Be the Better Broker book series. After a challenging couple of years in the mortgage and real estate industry, and following the most recent drop in the Bank of Canada interest rate, we hope that you enjoy the extra perspective in this episode!…

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SPECIAL FEATURE October 23, 2024 -Bank of Canada UPDATE 7:52

منذ 19 weeks7:52

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7:52

Today, the Bank of Canada announced another rate cut - the fourth consecutive rate cut for the Bank this year. And, to top it off, today's rate cut is twice the size of previous cuts at 1/2 percent! Tune in to get Pete and Mindy's take on the rate cut, why it was a jumbo sized rate cut, and what might happen at the Bank of Canada's next announcement on December 11th. Have a listen!…

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e51 - Loan and behold! What documents do we NEED? 40:39

منذ 21 weeks40:39

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40:39

The beginning of a broker / client relationship is warm and encouraging as we discuss the client's goals and how we can achieve them...then we ask for supporting documentation... Quite often a client may feel like we're asking for too much information, and it can be quite a bit of home work for the client finding all the pieces! In all cases each lender is very specific on what they want to see in order to verify income, down payment, property details etc. We do our best to streamline the process for our clients, but document collection is a reality when it comes to getting approved for a mortgage. This episode lays out all the various documents that may be required under various scenarios. If you haven't applied for a mortgage before, this is a great listen!…

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SPECIAL FEATURE September 17, 2024 - Policy Update 10:40

منذ 24 weeks10:40

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10:40

Effective December 15, 2024 there are some MAJOR changes to insured mortgages. One big change is that purchases of up to $1.5M can now be insured mortgages which means your down payment can be less than 20%. Another change is bringing back 30 year amortizations on insured mortgages. Buyers who are considered first-time home buyers or buyers of newly built homes can now get a mortgage with a 30 year amortization. Lastly, we discuss the latest inflation numbers with CPI coming in at 2.0% for August which means there could be some downward pressure on variable rates. Have a listen to see what we think!…

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e50 - What DOES a Mortgage Broker do?? 32:54

منذ 25 weeks32:54

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32:54

What DOES a mortgage broker do? Good question! And turns out Pete and Mindy could speak about it for days! In a nutshell, mortgage brokers are independent, licensed, regulated and educated professionals who are absolutely determined to understand their clients financing needs! Have a listen to Pete and Mindy' chat!…

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SPECIAL FEATURE September 4, 2024 -Bank of Canada UPDATE 8:37

منذ 25 weeks8:37

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8:37

The Bank of Canada dropped the overnight lending rate by 1/4 % today. Check out this episode for our analysis of the rate drop and what's coming for possible future cuts.

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SPECIAL FEATURE July 24, 2024 - Bank of Canada UPDATE 4:48

منذ 29 weeks4:48

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4:48

For the second time in a row, the Bank of Canada has dropped their rate!

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e49 - Are YOU a first time home buyer? 22:02

منذ 30 weeks22:02

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22:02

Check out this episode where Pete and Mindy discuss some of the things you might want to think about as a first time home buyer.

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e48 - What's Up, Bank of Canada? 27:17

منذ 34 weeks27:17

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27:17

We chat with Brendon Ogmundson, the chief economist for the BC Real Estate Association, to find out what he thinks about the current state of interest rates. Brendon explains the recent Bank of Canada rate drop and the potential for future rate decreases. Does the Bank of Canada have any effect on fixed rates? And how do these rates affect the real estate market? Is it a good time to buy? Tune in to find out!…

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e47 - Welcome to The Mortgage Life 12:40

منذ 1 year12:40

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12:40

Welcome to our podcast! We have created this library of episodes to help educate our clients on some of the most important and most asked about topics relating to the mortgage process. Stay tuned for more captivating topics in the future, and in the meantime, please enjoy the 62 episodes published to date.…

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e46 - Unique Aspects of the Yukon Market 26:17

منذ 1 year26:17

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26:17

You might be surprised at some of the unique topics uncovered in this episode! Have a listen as Pete, Sue, and Mindy chat with Terence Tait, broker/owner at REMAX Action Realty in Whitehorse, YT.

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