oneSt. Mortgage
501 - 230 22nd St E Saskatoon, SK, Canada

Merry Christmas from all of us at oneSt. Mortgage!

With the end of the year approaching, we want to express our gratitude to all of our clients, business partners, staff, mortgage associates, friends, and family for their unwavering support. Cheers to a Merry Christmas and hopefully a much happier New Year!

Comparing purchase prices today vs. 2 years ago, based on the difference in interest rates: A purchase at the end of 2018 of $480,000 A purchase right now for $600,000... While these are quite different from one another in price range, each with the minimum down payment would actually result in the same monthly payment. That’s how much the current low rates have actually impacted purchasing power compared to 2 years ago. Please contact us at any time to discuss additional comparisons for your situation!

#remembranceday #grateful #lestweforget2020 #remember #memorial #remembrance #thankful #neverforget

All of us from the oneSt. Mortgage family would like to wish you a Happy Thanksgiving Weekend and sincerely thank you for your continued trust and support!

Did you know it's International Coffee Day?!? Share your go-to java in the comments below to be submitted for a chance to win a $25.00 Starbucks gift card! The winner will be announced Friday, October 2! #internationalcoffeeday #onestmortgage

We are so excited to introduce Stephanie Afseth - Please help us welcome her to the oneSt. family!

Happy Long Weekend!

Happy Canada Day!

Looking for an individual 115 sq ft office in a professional environment? We have one beautiful, fully furnished bright and modern office available immediately. Includes Wi-Fi, printer, reception from 8:30am-4:30pm, large board room, kitchen, and a great work atmosphere! Downtown Saskatoon #501 - 230 22 St East. Contact us for viewing and price 306-683-9539.

Update to "A CMHC Mortgage Rule Change? Really" post. As a company deeply entrenched in the Canadian mortgage industry, the whisper of mortgage rule changes can be a little startling as weve seen a few doozies over the years. In our post from Friday, we eluded to good news regarding the initial indication that while CMHC was adopting new guidelines, the other two mortgage insurers (Genworth and Canada Guaranty) werent going to follow suit. We want to confirm that bot...h Genworth and Canada Guaranty have released official statements confirming the following: Genworth MI Canada Inc.. confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score, and down payment requirements Canada Guaranty confirms that no changes to underwriting policy are contemplated as a result of recent industry announcements This of course gives the market a little breathing room. That said, the new grey areas that qualify at Genworth/Canada Guaranty and not CMHC are sure to be looked at with more scrutiny. As always, even if your mortgage plans are far into the future, please contact us. There is always advice we can give you that will benefit your mortgage options in the long term, including how CMHCs mortgage rule changes may or may not impact you.

A CMHC Mortgage Rule Change? Really? CMHC has announced, effective July 1, 2020, that their debt service ratio guidelines and minimum credit score criteria are changing. How does this impact borrowers? The ratios CMHC use, based on a percentage of an applicants gross annual income, are changing from a maximum of 39% GDS / 44% TDS to a new maximum of 35% GDS / 42% TDS. GDS is calculated based on: Stress Test qualification payment + Property Taxes and Heat Expens...e. TDS is calculated based on: GDS plus monthly payment obligations a borrower already has. For credit scores, where the guideline previously required a minimum 600 credit score for an applicant, the guideline will now require a minimum 680 credit score for applicants. Will this make it harder for Canadians to qualify? In a way, yes. If the lender is insuring the mortgage through CMHC (the most common scenario here is down payments less than 20% of the purchase price), this equates to a reduction in purchasing power of roughly 10%. Are there other optionsIs there any good news? As the story has unfolded, its been expressed that the other two mortgage insurers in Canada (Genworth and Canada Guaranty), have conveyed the choice to adopt these changes was not mandated by the Department of Finance. Therefore, as things currently stand, Genworth and Canada Guaranty remain under the current set of rules. For reference, it is estimated that Genworth and Canada Guaranty now make up roughly 50% of the mortgage insurance market share in Canada. How does this impact your specific situation? Please contact your oneSt. Mortgage Broker as we will always be here to assist you!

Happy Mother's Day!

Happy Earth Day!

Many out there have mortgage renewals upcoming. We want you to know we're here and able to assist you at all times **Even if you didn't use our services when you first got your mortgage**. Please reach out to your oneSt. Broker or respond to this message for any advice and assistance with your renewal.

Obviously an office meeting isnt an option these days but your oneSt. team is still meeting frequently. Every day, we continue to collaborate on how we can continue to best serve our clients. Happy Friday everyone :-)

A quick reminder that we're here for you at all times to answer any questions you may have. Please reach out to your oneSt. Broker or via this post if there's anything we can help you clarify during these ever-changing times. Since we all are spending much more time at home these days, the topic of movies has been coming up among the team and we thought we'd share the results of our internal polling. The question - what is your favorite all-time movie? Here are the oneSt. answers!

Please help us welcome Evan Hrudey to our oneSt. Mortgage Family! Evan will be working out of our Edmonton office and has already hit the ground running!

Canadians will have an extra month to file their taxes to the Canada Revenue Agency and the deadline to pay off any outstanding balances interest-free will also be extended, to July 31.

Mortgage Payment Relief - Covid 19 Here is some information in these uncertain and difficult times. Insurers (CMHC, Genworth, and Canada Guaranty) already had programs in place with the banks/lenders that allowed them to capitalize up to 4 monthly payments. Today they announced that they will consider extending the program to allow up to 6 months of capitalization provided that:... 1. Original insured loan amount is not exceeded 2. Request to cap payments is received prior to Sept 3, 2020 3. Bank/lender confirms the capitalization is being applied reasonably to help mitigate short-term financial difficulty resulting from COVID-19. The insurers have several other default management tools available which include: payment deferral, loan re-amortization, and other special payment arrangements. All assistance options will be considered on a case by case basis. The programs are facilitated through the banks/lenders and we have been asked to direct our clients to contact their lender directly for further assistance. Here is a list of customer service numbers: ATB 1-800-332-8383 B2B 1 800 263 8349 BMO 1-877-895-3278 Bridgewater 1-866-243-4301 CIBC 1-800-465-2422 CMLS 1-888-995-2657 Optimum 1-866-441-3775 Equitable 1-888-334-3313 Connect First 403-736-4000 Chinook Financial 403-934-3358 First Calgary Financial 403-736-4000 First National 1-888-488-0794 Haventree 1-855-272-0051 Home Trust 1-855-270-3630 HSBC 1-888-310-4722 ICICI 1-888-424-2422 Lendwise 1-877-637-4911 Manulife 1-877-765-2265 MCAP 1-800-265-2624 Merix 1-877-637-4911 Marathon 1-855-503-6060 RBC 1-866-809-5800 RFA 1-877-416-7873 RMG 1-866-809-5800 Scotia 1-800-472-6842 Servus 1-877-378-8728 Street Capital 1-866-683-8090 TD 1-866-222-3456 CMHC 1-800-668-2642 Genworth 1-888-436-9678 Canada Guaranty 1-866-414.9109

Its always great to hear from our clients. Thanks Melissa for always saying such great things about our company! Happy you are enjoying your home and staying healthy!

The well-being of our clients and staff is our top priority. We are following all health service recommendations to guide us through this uncertain time. That being said, we are open and here to help our existing clients and anyone looking for mortgage advice/service. Interest rates have never been this low. On Friday the Bank of Canada cut its overnight lending rate again by 0.5%. We are able to lock interest rates on pre-approvals, renewals, spousal buyouts and refinances. Give us a call/text/email we are here to help!

What happened? The Bank of Canada cut their overnight rate by 0.5% as a response to the threat of the Coronavirus and its impact on already lagging global economic performance What is the overnight rate?... The overnight rate is the key lending rate set by the Bank of Canada used to influence Canadian economic growth and corresponding inflation in a moderate and sustainable direction. How does the overnight rate impact mortgage rates? Financial Institutions set their Prime Rate based on the overnight lending rate changing. When the overnight rate goes up, Prime goes up. When the overnight rate goes down, Prime goes down. How will this impact my mortgage rate? If you have a variable/adjustable-rate mortgage (or a HELOC), your interest rate will be going down. How much? As of this writing, were still waiting for confirmation from Canadian financial institutions on where they will adjust the prime rate too. Recall in 2015, there were two 0.25% overnight rate cuts by the Bank of Canada for a total of 0.50% however, the Prime rate was only adjusted 0.15% each time by Canada institutions for a total 0.30% rate reduction. What if I have a fixed rate? Fixed rates, while not directly priced off of the prime rate, are impacted by these types of market movers. Fixed rates are priced based on the Government of Canada 5-year Bond Yield and to say the GoC 5-year Bond has taken a dive lately would be putting it lightly. ***If youre currently in the middle of a fixed mortgage term contact your oneSt. Mortgage Broker to discuss if there are ways you could take advantage of this ***If youre coming up for renewal good news, you can tell your friends you planned it this way but seriously, still also contact your oneSt. Mortgage Broker ***If youre shopping for a home or thinking about refinancing, you guessed it contact your oneSt. Mortgage Broker What if I dont have a oneSt. Mortgage Broker? Let us know in the comments below or contact us via our website www.onest.ca and well be sure to take care of you!

To take effect in April! Contact us to see how this can positively impact your situation.

Happy Valentine's Day!

Lets go Oilers! Tawny Bley Shayne Beeler Tyler Hildebrand

Wishing everyone a Happy New Year! Reflecting back on 2019, we would like to send out a huge THANK YOU to all our wonderful clients, family and friends! Cheers, may your 2020 be prosperous and filled with happiness!

Looking for an individual 115 sq ft office in a professional environment? We have one beautiful, fully furnished bright and modern office that is available for January 1st. Includes Wi-Fi, printer, reception from 8:30am-4:30pm, large board room, kitchen, and a great work atmosphere! Downtown Saskatoon #501 - 230 22 St East. Contact us for viewing and price 306-683-9539.

Wishing you a very Merry Christmas from all of us at oneSt. Mortgage!

CONGRATULATIONS to our very own Tawny Bley for being recognized as one of Canada's 2019 Women of Influence. Very well-deserved, Tawny!!

We are beyond excited to announce that our very own Mortgage Broker Audra Kish won the 2019 Planet S Best Of Saskatoon! Way to go Audra!

Is a reverse mortgage right for you? Call us today, our certified CHIP Mortgage Associates are here to assist you through and answer any questions you may have.

Happy Halloween!

Happy Thanksgiving!

Wow! Two brokers from oneSt. Mortgage have been nominated for Planet S Best Mortgage Broker Saskatoon! We are so thankful to have these amazing individuals representing our company! Way to go Audra, well deserved! To vote for her, please click the link below. https://planetsmag.com/best-of-saskatoon-2019/

Congratulations to Tawny Bley on being nominated for Planet S Best Mortgage Broker Saskatoon! Glad you all think she is as awesome as we do! Help her out by clicking the link below to vote! https://planetsmag.com/best-of-saskatoon-2019/

A quick heads up there is some slight upward pressure on interest rates at the moment. If youre planning a purchase, have a mortgage coming up for renewal or plan to refinance, please contact us to discuss taking advantage of the low rate environment were still in. Also, if you have a variable rate mortgage, it might make sense to explore locking in wed be happy to discuss that with you as well.

Reminder, this is a niche product which isn't applicable to all first time buyers. Please contact us for more details!