• Bank of Canada Concerned About Trade Risks

    Jencor Mortgage    |   

    Categories: bank of canada , Dominion Lending Centres , Dr Shrry Cooper , housing , mortgages , Rates , Refinance

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    The Bank of Canada held rates steady today, as expected, highlighting “trade policy developments” as an “important and growing source of uncertainty for the global and Canadian outlooks.” As the seventh round of NAFTA negotiations commenced in Mexico City, President Trump dropped a bombshell late last week, threatening to impose a 25% tariff on imported steel and a 10% tariff on imported aluminum for national security reasons. The news reverberated around the world, causing U.S. trading partners in Europe to announce potential retaliatory actions quickly. The European Union raised the stakes for Trump by aiming levies on the GOP heartland, saying…

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  • WHAT IS AN INTEREST RATE DIFFERENTIAL (IRD)? HOW DO YOU CALCULATE IT?

    Jencor Mortgage    |   

    Categories: Dominion Lending Centres , Jencor , Mortage , Rates

      A mortgage in its simplest form is a contract. It has terms, conditions, rights and obligations for you and the lender. When you sign on the dotted line, you are agreeing to those terms for the length of time laid out in the contract. However, sometimes life throws us an unexpected event that brings around the need to make key decisions and changes. One of these changes, for whichever reason, might be needing/wanting to break your mortgage contract before the end of the term. Can you do that? What are the penalties? Let’s take a look! To answer the initial question…

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  • Wages Growth Accelerates as Canada Adds Jobs For the 10th Straight Month

    Jencor Mortgage    |   

    Categories: Dominion Lending Centres , Jencor , Jobs , Mortgage , Rates , Wage Growth

    While the headline net jobs gain was a disappointing 10,000--well below the average monthly increase in the past year--the underlying data in this morning's StatsCanada release were quite robust. The jobless rate remained unchanged at 6.2 per cent as the acceleration in wage gains suggests that the economy is close to full employment. Average hourly pay gains hit 2.2 per cent year-over-year, the fastest pace since April 2016, mostly reflecting a long-awaited acceleration in wages in the past few months. The Bank of Canada has cited sluggish wage growth as evidence of slack in the economy. In a reversal of…

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  • Rates are Rising!

    Jencor Mortgage    |   

    Categories: Jencor , Mortgage , Purchases , Rates , Refinance , Rising Rates

    Rates are Rising

    Preserve your Buying Power - Get Pre-Approved now

    Many banks and mortgage lenders have hiked their 5-year fixed rates.
    Jencor still has 2.99% 5-year fixed rates for insured or uninsured purchases,
    refinances and pre-approvals, 90-day rate holds, also a 12-month rate hold
    for new construction properties.

    You Can “Save Money”

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  • MORTGAGE CHANGES ARE COMING—ARE YOU PREPARED?

    Jencor Mortgage    |   

    Categories: calgary real estate , Fixed Mortgages , Lending Requirements , Mortgage , Mortgage Changes , Mortgage Companies , Mortgage Rates , Mortgage Renewal , Rates , real estate news

    We know – more changes?! How can that be! With this ever-changing landscape, mortgages continue to get more complicated. This next round of changes is predicted to take affect this coming October 2017 (date not yet available). These new rules contain three possible changes, the most prominent being the implementation of a stress test for all uninsured mortgages (those with a down payment of more than 20%). Under current banking rules, only insured mortgages, variable rates and fixed mortgages less than five years must be qualified at a higher rate. That rate, of course, is the Bank of Canada’s posted…

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