Fort McMurray And Oil Prices

By | Calgary Economy, Life Quotes, Mortgage Minute | No Comments

Fort McMurray And Oil Prices

The Canadian economy has seen some improvements the past couple of weeks.  Oil has climbed near the $50 mark, due in part to the Fort McMurray fires, as well as terrorist attacks in Nigeria, unrest in Libya and falling US stockpiles.  Lot’s of speculation is out there predicting $50, 60, $70 + oil by summer’s end.

Alberta oil sand producers are now playing catch up after shutting down during the Alberta fires.  While the Fort McMurray fires contributed to the climb in oil prices, it is not the only factor, so Alberta will benefit from the higher oil prices.

 

BORROWERS:

Full feature, 5 year fixed rates
~ Most Big Bank 5 year fixed rates are around 2.59%.
~ Most Monoline Lender* 5 year fixed rates are around 2.54%.

Basic Feature, 5 year fixed rates
~ Most basic feature mortgages are around 2.44%

Variable rates
~ Most Variable rates are around 2.35%.

*Monoline lenders are lenders that deal only in mortgages. They don’t sell RRSPs, or checking accounts etc.  Mono = 1.

**These rates are generally competitive rates to give you a feel for where the market is at.  Contact me for quick close deals and rate specials!

ECONOMICS:

Calgary Key Market Indicators

Business
~ WTI Crude Oil is at $49.33 this week (2 weeks ago it was at $46.21).
~ Natural Gas is at $2.17 this week ($2.10 2 weeks ago).

Money
~ Canadian dollar is at $0.77 (2 weeks ago it was $0.78)
~ 5 Year bond is at 0.791  (2 weeks ago it was at 0.700).
~ Year over year (yoy) inflation in Calgary from April 2015 to April 2016 was 1.4%, March and February were also 1.4% (2.0% in January).
~ Year over year Canadian inflation in April was 1.6% March was 1.27%. February was 1.36%. In January it was 2.01%. In December it was 1.61%. The Bank of Canada preferred bandwidth is 1.0% to 3.0%.

People
~ Calgary unemployment dropped for the first time in a while to 8.3% in April.  It was 8.6% in March. It was 8.4% in February and 7.7% in January.
~ Canadian unemployment in April was 7.1%.
~ Calgary’s population grew by 1900 in April.

LIFE:

“Don’t half ass anything.  Whatever you do, always use your full ass.”

– unknown

Alternative Mortgages

By | Alternative Mortgages, Calgary Economy, Life Quotes, Mortgage Minute, Mortgage Options | No Comments

Alternative Mortgages

There are many alternative products available for clients that don’t fit the bank mould due to their type of income, or credit history.

  • Business for self mortgages where reported income is low
  • Cash income sources (ie. roommate pays cash that will help pay the mortgage)
  • Equity lending (strong net worth, low declared income)
  • Private and 2nd mortgages
  • Bruised or damaged credit
  • Consumer proposals
  • Former bankruptcy

If you or a client of yours may benefit from one of these products, please give me a call.  I am happy to see if there’s a match right now, and/or help people understand what changes they may need to make to qualify down the road.

 

BORROWERS:

Full feature, 5 year fixed rates
~ Most Big Bank 5 year fixed rates are around 2.59%.
~ Most Monoline Lender* 5 year fixed rates are around 2.54%.

Basic Feature, 5 year fixed rates
~ Most basic feature mortgages are around 2.44%

Variable rates
~ Most Variable rates are around 2.35%.

*Monoline lenders are lenders that deal only in mortgages. They don’t sell RRSPs, or checking accounts etc.  Mono = 1.

**These rates are generally competitive rates to give you a feel for where the market is at.  Contact me for quick close deals and rate specials!

ECONOMICS:

Calgary Key Market Indicators

Business
~ WTI Crude Oil is at $46.21 this week (last week it was at $43.33).
~ Natural Gas is at $2.10 this week ($2.10 last week).

Money
~ Canadian dollar settled in a little at $0.78 (last week was $0.77)
~ 5 Year bond is at 0.700  (last week it was at 0.691).
~ Year over year (yoy) inflation in Calgary from March 2015 to March 2016 was 1.4%, February 2015 to February 2016 was also 1.4% (2.0% in January).
~ Year over year Canadian inflation in March was 1.27%. February was 1.36%. In January it was 2.01%. In December it was 1.61%. The Bank of Canada preferred bandwidth is 1.0% to 3.0%.

People
~ Calgary unemployment dropped for the first time in a while to 8.3% in April.  It was 8.6% in March. It was 8.4% in February and 7.7% in January.
~ Canadian unemployment in April was 7.1%.
~ Calgary’s population grew by 1900 in April.

LIFE:

“Someone who is rebellious does not want a solution.  Set limits until there is true repentance.”

– Lovingonpurpose.com

Mortgage Minute – Welcome To My New Website!

By | Life, Mortgage Minute | No Comments

Mortgage Minute – Welcome To My New Website!

I’m very excited to be launching my new website today!  Please tune in for regular posts on topics such as:

  • Mortgage tips and tricks!… Yes!
  • Pictures of food… nope
  • Updates on the Calgary economy and housing market… yes!
  • Updates on where rates are at… yes!
  • Recommended vinyl to add to your record collection… yes!
  • Updates on the Canadian economy… yes!
  • Updates on Megan and I buying another puppy… maybe!
  • Credit tips… yes!
  • Differences between different types of mortgages… yes!
  • Mortgage Features… yes!
  • Mortgage Qualifying criteria… yes!

Let’s plant some seeds!

BORROWERS:

Full feature, 5 year fixed rates
~ Most Big Bank 5 year fixed rates are around 2.59%.
~ Most Monoline Lender* 5 year fixed rates are around 2.54%.

Basic Feature, 5 year fixed rates
~ Most basic feature mortgages are around 2.44%

Variable rates
~ Most Variable rates are around 2.35%.

*Monoline lenders are lenders that deal only in mortgages. They don’t sell RRSPs, or checking accounts etc.  Mono = 1.

**These rates are generally competitive rates to give you a feel for where the market is at.  Contact me for quick close deals and rate specials!

ECONOMICS:

Calgary Key Market Indicators

Business
~ WTI Crude Oil is at $43.33 this week (last week it was at $45.92).
~ Natural Gas is at $2.10 this week ($2.18 last week).

Money
~ Canadian dollar stopped it’s slow climb and dropped from $0.80 US to $0.77 US primarily due to weekend commodity prices (oil & metals).
~ 5 Year bond dropped again to 0.691 (last week it was at 0.879).
~ Year over year (yoy) inflation in Calgary from March 2015 to March 2016 was 1.4%, February 2015 to February 2016 was also 1.4% (2.0% in January).
~ Year over year Canadian inflation in March was 1.27%. February was 1.36%. In January it was 2.01%. In December it was 1.61%. The Bank of Canada preferred bandwidth is 1.0% to 3.0%.

People
~ Calgary unemployment dropped for the first time in a while to 8.3% in April.  It was 8.6% in March. It was 8.4% in February and 7.7% in January.
~ Canadian unemployment in April was 7.1%.
~ Calgary’s population grew by 1900 in April.

LIFE:

“All hard work brings profit, but mere talk leads only to poverty.”
~ Proverbs 14:23