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Going through a divorce? Are you trying to navigate the best way forward for the next chapter in your life?

You may be wondering if you are able to buyout your ex or what you might qualify for if your family home was sold. I can help answer these questions while you consider your options.

We can schedule a call to discuss what the new mortgage payments might look like, what the current interest rates are, which lenders might be a good fit to work with, and what it would take to qualify.

The financial aspect of divorce can be intimidating and overwhelming. Reaching out to someone who is available on your schedule, and who has experience in this area, can sometimes be reassuring, and might provide a little peace of mind. If you need a professional to rely on, and help you through the process, I am here for you.

#peaktopeakmortgage #mortgagebroker #mortgagehelp #lifechapter #lifechanges ...

Here are the July inflation figures from Statistics Canada based on the Bank of Canada’s preferred measures. Shelter and grocery prices reported higher from the June figures. #peaktopeakmortgage #mortgagebroker #inflation #bankofcanada ...

Steps to the Home Buying Experience

Buying a home is a journey, sometimes a marathon & often an emotional rollercoaster!

The mortgage pre-approval is just the first step in the journey.

Once you`ve found the home you want to purchase, your next step begins with negotiations to get to an accepted offer. During this part of the process, aside from the price, items that may come up include: navigating existing tenancies, aligning your completion & possession dates that work with the seller, and various subject clauses that can range as follows: subject to sale; subject to the sellers finding a new home; subject to inspection; subject to review of strata documents; subject to financing; and/or subject to arranging fire insurance. The subjects are either for the benefit of the buyer or seller, and are standard items in real estate contracts.

Once the offer is accepted, the next phase begins of working towards satisfying your subjects. Your subjects must be fulfilled by the date that was originally negotiated when you wrote the offer. Your mortgage pre-approval will become a "live" deal which will begin the formal underwriting process, and may trigger other steps such as ordering an appraisal, obtaining high ratio mortgage insurance approval, and providing any other additional supporting documents that the lender requires.

Once all the subjects have been met (for both buyer and seller), you will make your deal firm and binding. This is when you give your deposit that will be payable in trust, to the real estate office that you are working with. The deposit will form part of your down payment.

The closing process is handled by your lawyer or notary, and then on your possession day, you will get the keys!

Working through this process can be complex and time sensitive. Having the right team in place such as a professional realtor, mortgage broker, and lawyer or notary will help you navigate your journey to achieving home ownership successfully. We`re here to help if you have any questions about the steps involved.

#peaktopeakmortgage #realestate #mortgagebroker #firsttimebuyer #firsttimehomebuyer #homebuyingprocess #mortgagepreapproval #stepstohomebuying ...

Happy BC Day !!
#BCday #enjoytheday #summervibes #peaktopeakmortgage ...

Bank of Canada keeps the policy rate at 2 3/4%.
Here are the summary notes taken from the Bank`s July 30th announcement:

With still high uncertainty, the Canadian economy showing some resilience, and ongoing pressures on underlying inflation, Governing Council decided to hold the policy interest rate unchanged. We will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs related to tariffs and the reconfiguration of trade. If a weakening economy puts further downward pressure on inflation and the upward price pressures from the trade disruptions are contained, there may be a need for a reduction in the policy interest rate.

Governing Council is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases from tariffs and trade disruptions are passed on to consumer prices; and how inflation expectations evolve.

The next rate announcement is scheduled for Sept 17th, 2025.
#peaktopeakmortgage #bankofcanada #mortgagebroker #interestrates #realestate ...

Demystifying Mortgage Qualifying

Ever wonder what is behind qualifying for a mortgage? In simple terms, there are 4 basic fundamentals that make up the core of the underwriting process:

- Your income; how it is earned and is it consistent?
- Your credit score; how long have you had an established credit rating, and is everything paid as agreed?
- Your down payment; do you have the minimum, and how was it acquired?
- Do you have the appropriate documents to support your application?

Of course, there are other factors that come into play such as property location & details of the home, but for you as an applicant, the bank will look at the above factors as the basis to start.

Once your qualifying income is determined, in general, the amount you can borrow is based on 2 debt service ratios; the new payments that are associated with the new home purchase shouldn`t be more than 39% of your verified income (GDS); and if you have any other debts, the total debt service ratio (TDS) shouldn`t be more than 44% of your verified income. The payments for these ratios are calculated at a "stress test" rate. If the home has a suite, then rental income from the suite can also be used to help with qualifying. The suite does not have to be authorized, but it does have to have it`s own separate entrance, and a full kitchen.

It is important to note that if you are working with a down payment of at least 20%, we are often able to obtain exceptions to go higher than 39 & 44%, depending on your circumstances and your overall application. If you are working with a down payment of less than 20% and obtaining a high ratio mortgage, then exceptions are not permitted. Also, we can add a family member as a co-signer to assist, if necessary.

It is also worth mentioning that if you are self-employed, there are excellent programs in place that assist with recognizing more income to help with the qualification process.

If you are interested to find out more about how you might qualify, feel free to reach out to see how the numbers might work for you.

#peaktopeakmortgage #realestate #firsttimehomebuyer #mortgagecentrecanada #mortgagebroker #mortgagepreapproval ...

Here are the latest inflation figures for June based on the Bank of Canada’s preferred measures. Stats Can noted “No special adjustments to the Consumer Price Index will be required for tariffs, as their effect is embedded in the final prices collected.

Statistics Canada will continue to monitor developments on tariffs and the impact on consumer price inflation.” #peaktopeakmortgage #mortgagebroker #realestate #inflation #bankofcanada ...

What is Behind Interest Rate Movement?

When some people think of mortgage rates, they think our central bank is behind all of the rate movement - both fixed and variable. In fact, it is the variable rate mortgages that are directly impacted by the rate setting sessions of the Bank of Canada, every 6 weeks. Among other factors, the bank closely watches the latest inflation figures and sometimes projected inflation, when making their decisions on whether to move the prime rate up, down, or stay neutral.

Our fixed interest rates are influenced by what happens in the bond market. Everyday, institutional investors track indicators of what is happening globally. Simply put, there is a vast analysis that goes on to get a directional sense of economic growth, inflation, and recession. We see adjustments with the bonds daily. When there is enough micro movement in one direction or another, that`s when we see the available fixed mortgage rates either go up or down.

Sometimes the variable and fixed rates move in tandem, but not always. They each have their own realm when it comes to timing.

Having a discussion about rates and the right term to choose is something we do with every pre-approval. The next Bank of Canada rate announcement is scheduled for July 30th, 2025.

#peaktopeakmortgage #mortgagecentrecanada #mortgagebroker #realestate #mortgagepreapproval #firsttimebuyer #firsttimehomebuyer #mortgagerates ...

Mortgage pre-approvals can be a great help when you are house hunting! Not only do you get an idea of the price range you can shop in, but you will have a sense of your total monthly payments, and a rate guarantee that will in place for 120 days in case rates move up. If rates are lower when you write your offer, you will get the rate drop! #peaktopeakmortgage #mortgagecentrecanada #mortgagebroker #realestate #mortgagepreapproval #firsttimebuyer #firsttimehomebuyer ...

Are you encountering challenges as a self-employed borrower? We have solutions that can help! Whether for high ratio purchases with less than 20% down, or for conventional financing for purchases or refinances, we have lenders that can assist. Everyone`s circumstances are unique and not a one-size-fits-all. If you have a situation that requires an out-of-the-box solution, we may be able to help! You can apply online at peaktopeakmortgage.com. ...

The May inflation stats are in from Stats Can. These are the core measures of inflation observed by the Bank of Canada. Not too much movement in either direction from April. We seem to be holding steady in the tariff aftermath so far. #inflation #peaktopeakmortgage #bankofcanada ...

No changes to the prime rate in this morning’s Bank of Canada announcement. The next scheduled rate setting is July 30th, 2025. We are still seeing volatility with the bond yields on which the fixed rates are based on. Investors are monitoring concerns of potential global recession and also, long term inflation. Most clients are opting for fixed terms right now for long term payment stability. #peaktopeakmortgage #mortgagebroker #realestate #bankofcanada #mortgagerates ...

Here are the latest inflation figures from Stats Canada. Inflation is up which has caused upward pressure on the bond yields. If you are thinking of buying a home or refinancing, it is a good idea to get a rate guarantee in place. Rates are protected for 120 days, and if they go down, you get the lower rate. In this market of bond yield volatility, it is better to play it safe. #peaktopeakmortgage #mortgagebroker #realestate #inflationstats #homebuyer #firsttimehomebuyer #mortgagepreapproval ...

Wishing everyone a lovely long weekend with friends and family! ♥️ #peaktopeakmortgage #happyeaster ...

No changes to the prime rate in today’s Bank of Canada announcement. The next rate announcement is June 4th, 2025. #peaktopeakmortgage #mortgagebroker #realestate #bankofcanada ...

Here are the latest inflation stats from Statistics Canada based on the Bank of Canada’s preferred measures. The numbers are down slightly for March. Any downward movement on inflation helps to decrease pressure on rates. #peaktopeakmortgage #mortgagebroker #realestate #inflationstats #inflation ...

Quality time with quality people. Thank you Lisa and Greg for the great CRM training yesterday. Your expertise is greatly appreciated! Great minds think alike! We all showed up in matching white 😊. #mortgagecentrecanada #dominionlendingcentres #mortgagebroker #peaktopeakmortgage ...

Inflation figures for February are in from Stats Canada. These are the preferred measures used by the Bank of Canada. Hopefully this is just a temporary blip in the upward movement. From Stats Can “While faster price growth was broad-based in February, the end of the goods and services tax (GST)/harmonized sales tax (HST) break partway through the month contributed notable upward pressure to prices for eligible products. Slower price growth for gasoline prices (+5.1%) moderated the all-items CPI acceleration.”
#peaktopeakmortgage #mortgagebroker #realestate #inflation ...

We have a .25% reduction this morning from the Bank of Canada. In their announcement, they note: “Monetary policy cannot offset the impacts of a trade war. What it can and must do is ensure that higher prices do not lead to ongoing inflation. Governing Council will be carefully assessing the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs. The Council will also be closely monitoring inflation expectations.” The next rate announcement is April 16th. #peaktopeakmortgage #bankofcanada #mortgagerates #realestate #mortgagebroker ...

Here are the January inflation figures from Statistics Canada. These are the Bank of Canada’s preferred core measures. In January, increased energy prices, for gasoline and natural gas, contributed the most to the increase. #peaktopeakmortgage #mortgagebroker #realestate #inflationstats #inflation ...