Latest News

Rate Wars In The Broker Channel

posted by The Mortgage Associates    |   February 9, 2015 09:20

Rate Wars in the Broker Channel

Article yMarkKerzner, Special to CMT, February 6, 2015

"Competition in the mortgage origination market has benefited consumers, full stop.

Two years ago I wrote this column. It provided evidence that a strong broker channel keeps lenders competitive, thereby benefiting consumers. The same holds true today.

While broker share is approximately 30% of the total market, it operates as a check on the system, forcing all channels (including branch and mortgage sales force reps) to sharpen their pencils."

To read the full article please click here.

Saskatchewan's Diversified Economy

posted by The Mortgage Associates    |   February 6, 2015 08:32

Will the Bank of Canada slash interest rates to the bone?

posted by The Mortgage Associates    |   February 5, 2015 08:50

Will the Bank of Canada slash interest rates to the bone?

Article by Michael Babad, The Globe and Mail, February 3, 2015

"A big question in the markets is where the Bank of Canada goes next.

And at least one forecaster believes it will cut right to the bone.

In a new projection today, HSBC Bank PLC predicts the central bank will trim its benchmark rate again in the current quarter to 0.5 per cent, and then again in the second quarter of the year to just 0.25 per cent.

It was just last week that Bank of Canada Governor Stephen Poloz and his colleagues surprised the markets with a cut of one-quarter of a percentage point to 0.75 per cent, fuelling speculation that they could move again.

Indeed, Mr. Poloz, calling the cut an “insurance policy” amid the oil slump, said he was prepared to act further if need be.

David Watt, HSBC’s chief economist in Canada, said the central bank will in fact have to “remain cautious” for the rest of the year.

“The Canadian economy is going to be vulnerable through the first half of this year,” he added."

To read the full article, please click here.

Shawna is so friendly and warm hearted

posted by The Mortgage Associates    |   February 4, 2015 08:21

Shawna MacDonald"Even though I hadn't met Shawna before, I felt that I could chat with her about anything.  She is so friendly and warm hearted.  Thank you so much for helping us get our new home!"

Samantha & Darrel Beausoleil, January 2015







With Bank of Canada rate cut, sub-2% mortgages are coming to a bank near you

posted by The Mortgage Associates    |   January 22, 2015 08:46

With Bank of Canada rate cut, sub-2% mortgages are coming to a bank near you

Article by Garry Marr, Financial Post, January 21, 2015

"By this time next week, Canadian consumers borrowing for a home might be looking at the lowest rates in the country’s history as a result of the Bank of Canada’s rate cut on Wednesday.

Interest rates on the discount market are already 2.05% on a variable rate, five-year mortgage and 2.57% on a five-year, fixed rate mortgage, said Rob McLister, editor of Canadian Mortgage Trends.

“We haven’t heard from the banks yet,” he said, referring to whether financial institutions will match the central bank’s 25-basis point cut. Bank lending rates tend to move with prime which variable rates are tied to. “Historically it takes a day or two for them to move.”

To read the full article, please click here.

Regina second-most affordable market in the West

posted by The Mortgage Associates    |   January 21, 2015 09:43

Regina second-most affordable market in the West

Article by Bruce Johnstone, Leader-Post, January 9, 2015

“In spite of a 150 per cent increase in housing prices since 2007, Regina still has the second-most affordable housing among major western Canadian cities, according to the Association of Regina Realtors.

“Despite the significant appreciation in housing prices over the past seven years, Regina remains the second-most affordable market in Western Canada,” said Gord Archibald, CEO of the Association of Regina Realtors.

In fact, there has actually been a decline in selling prices over the past year.”

To read the full article, please click here.

Shawna has been there every step of the way to make sure things goes smoothly

posted by The Mortgage Associates    |   January 20, 2015 08:29

Shawna MacDonald"Over the years Shawna has done a few mortgages for us, and has been there every step of the way to make sure everything goes smoothly.  She is always friendly, caring and thorough.  I would recommend her to anyone looking for a Mortgage Broker."

Grant Beauchemin, January 2015







Saskatoon fourth-most affordable in West

posted by The Mortgage Associates    |   January 19, 2015 09:43

Saskatoon fourth-most affordable in West

Article by Bruce Johnstone, Leader-Post, with Files from the StarPhoenix, January 9, 2015

"Saskatoon is the fourthmost affordable major city in Western Canada when it comes to buying a house, despite about a 50 per cent increase in prices over the last six years.

According to statistics on the Saskatoon Region Association of Realtors website, the average selling price for a home in Saskatoon in 2001 was $127,600.

The average price rose steadily until 2007 when it spiked to $232,600 and to $287,700 in 2008. After a slight pullback in 2009 (to $279,700), the price has continued upwards to an average of $356,500 in 2014.

According to a recent Toronto Star story, Saskatoon has the fourth-most affordable housing in Western Canada. Saskatonians would need to earn just over $74,546 a year to afford to buy an average house priced at about $350,000."

To read the full article, please click here.

Sky was part of the team that made buying our 1st home more exciting than stressful!

posted by The Mortgage Associates    |   January 16, 2015 11:57

"Sky Sorenson was incredible.  He was part of the team that got things going and made buying our first home more exciting than stressful!  Thank you so much!  We appreciate all your hard work!

Alyssia Disiwich & Austin Mcfiunigal, January 2015

Bank of Canada warns economy could be in for a rough ride

posted by The Mortgage Associates    |   January 15, 2015 08:20

Bank of Canada warns economy could be in for a rough ride

Article by Barrie Mckenna & Bill Curry, Globe and Mail, January 13, 2015

"The Bank of Canada is acknowledging for the first time that the world may be facing a prolonged oil-price slump, casting a dark shadow over the country’s economic prospects.

The price of crude, already sliced in half since the summer, could fall further and stay low for a “significant period,” deputy governor Timothy Lane warned in a speech Tuesday.

That could have profound and far-reaching implications for the Canadian economy, including putting more cash in the hands of consumers and exporters. But cheap crude is also likely to sap overall growth, send the dollar lower, dent federal and provincial government revenues, and perhaps delay eventual interest-rate hikes."

To read the full article, please click here.