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Some of Our Featured Mortgage Rates

 

TERM

 

RATES

 

Variable Rate Mortgage As low as 2.30%
3 Year Closed Rate As low as 2.20%
5 Year Closed Rate Mortgage As low as 2.59%
Home Equity Line of Credit (HELOC Up To 80%) As low as Prime +.25%
10 Year Closed Term 

As low as 3.84%

Rates and terms subject to change without notice, conditions may apply.

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Want to keep up to date with rates click here!

New to Canada Mortgage Program

The New to Canada Mortgage allows qualified home buyers  who have immigrated to Canada from another country, or have  been transferred here by an employer, to qualify for mortgage  insurance with as little as a 5% down payment.

Quick Details of the program - good credit or no credit history is allowed  as this program allows limited Credit history.

  • Must be in Canada for less than 5 years
  • Must have at least 3 months Canadian employment, no probation
  • Must have either a working visa or permanent status (9 SIN allowed, must prove legally allowed to be in Canada)If no credit and 5% DP - alternative sources of credit required (as per high ratio insurer guidelines)
    • Working visa minimum 10% down from own sources
    • Permanent Status 5% down from own sources

Call me to find out all the program details and if you qualify for this program!

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Unsecured Loans

 

Financial News
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Potash Corp. of Saskatchewan and Agrium confirm merger talks

30 Aug 2016 14:32:10

Potash Corp. of Saskatchewan, the world's largest fertilizer company by capacity, and Calgary-based Agrium have confirmed they are in preliminary merger talks.

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Average Canadian woman more likely to be in labour force than American counterpart

27 Aug 2016 19:17:06

Record numbers of Canadian women are active members of the labour force, while south of the border, those numbers are dipping, a new Statistics Canada study shows.

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Bombardier hands out pink slips, as part of effort to cut 7,000 workers

26 Aug 2016 19:22:52

Bombardier handed out pink slips Friday to aerospace employees in Montreal as part of its efforts announced in February to trim 7,000 workers over two years.

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McEducation? Burger chain's managers can earn college credit

24 Aug 2016 13:18:28

A job at McDonald's Canada could now help workers earn a college diploma.

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Judge approves $12 million settlement for unpaid overtime at BMO Nesbitt Burns

22 Aug 2016 17:00:30

A $12 million settlement in an unpaid overtime class action suit against BMO Nesbitt Burns Inc. is now final after the appeal period expired Monday.

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May News and Rate Advisor

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Courtesy of  Phil Romano, CPMB 905-516-1150

Certified Professional Mortgage Broker #M10002221
Verico House of Mortgage Experts
philromano@vhme.ca
www.philrom.com

Welcome to the May issue of the News & Rate Advisor.
Current Discount Mortgage Rates May 2016
Variable Rate 2.35%
1 Year 2.29%
2 Year 2.19%
3 Year 2.29%
4 Year 2.49%
5 Year 2.64%
7 Year 3.64%
10 Year 3.84%
Prime Rate 2.70%
Canadian Qualifying Rate May 2016
Rate 4.64%
Source: Bank of Canada
Current Posted Mortgage Rates May 2016 May 2015 May 2014
1 Year 3.14% 2.89% 3.14%
3 Year 3.39% 3.39% 3.75%
5 Year 4.64% 4.64% 4.79%
Source: Bank of Canada
Nationwide Building Permits Mar 2016 Mar 2015 Mar 2014
Residential $4,416,588,000 $4,418,463,000 $3,672,691,000
Commercial $2,442,053,000 $2,448,640,000 $2,300,869,000
Total $6,858,641,000 $6,867,103,000 $5,973,560,000
Source: Stats Canada - preliminary figures
Current Bank of Canada Rate & Prime Rates May 2016 May 2015 May 2014
Bank Rate 0.75% 1.00% 1.25%
Prime Rate 2.70% 2.85% 3.00%
Source: Bank of Canada


Average House Prices by City Mar 2016 Mar 2015 Mar 2014
Yellowknife $406,620 $377,244 $328,945
Vancouver $1,093,267 $891,652 $801,543
Victoria $575,858 $508,807 $493,323
Edmonton $379,524 $373,005 $361,870
Calgary $455,220 $457,422 $462,994
Saskatoon $336,425 $337,982 $344,600
Regina $307,609 $300,148 $328,781
Toronto $688,181 $613,933 $557,684
Hamilton-Burlington $486,008 $443,706 $410,553
Ottawa-Carleton $368,798 $362,918 $359,286
Quebec City $259,851 $262,214 $252,400
Montreal $336,138 $331,216 $320,558
Fredericton $177,441 $175,632 $175,007
Saint John $154,700 $301,769 $169,978
Halifax-Dartmouth $281,822 $277,377 $268,333
Winnipeg $287,692 $281,269 $278,527
Source: CREA - Most Recent Month Reported
Average House Prices by Province Mar 2016 Mar 2015 Mar 2014
National $508,567 $439,144 $401,419
Yukon $322,267 $307,800 $328,954
Northwest Territories $406,620 $377,244 $328,945
British Columbia $771,620 $641,799 $562,316
Alberta $392,145 $398,856 $402,933
Saskatchewan $297,823 $292,847 $304,428
Manitoba $277,202 $272,344 $269,865
Ontario $521,178 $466,404 $435,046
Quebec $274,616 $270,245 $264,197
New Brunswick $154,371 $150,807 $156,795
Prince Edward Island $194,094 $165,693 $174,311
Nova Scotia $223,520 $226,613 $213,336
Newfoundland $258,563 $273,645 $288,865
Source: CREA - Most Recent Month Reported


 "Always Striving to be your Trusted Mortgage Advisor!"
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Contact Info
Agent
Phil Romano

Certified Professional Mortgage Broker M10002221

Verico House of Mortgage Experts #11972

www.philrom.com
  

905-516-1150 888-812-8292 philromano@vhme.ca
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