Jeff Gallant

May Two-Four Weekend It might not be the celebratory weekend we are used to but you can still find ways to make it special. Whats your long weekend plan?

Thank you nurses - we always appreciate you but this year is of course very special!

FAQs: My mortgage payment is coming due; what are my options? 1. Check out the link of your mortgage provider below and see what options they have made available. ... 2. Call your mortgage agent to see how they can help we are always looking for solutions for our clients and although we are unable to meet in person, we are still working round the clock to help in any way we can. If you are feeling pressured or burdened please reach out! 3. If your lender is not on this list, again, please reach out there are so many solutions we can help you explore! Links: BMO https://www.bmo.com//personal/covid19-bmo-financial-relie/ Bridgewater https://bridgewaterbank.ca/covid-19/ B2B Bank https://b2bbank.com/en/covid19 CIBC https://www.cibc.com//a/covid-19/financial-relief-faq.html CMLS Financial https://www.cmls.ca/covid-19/march-17 CWB Optimum Mortgage https://www.optimummortgage.ca/en/client-services/covid-19 Desjardins https://blogues.desjardins.com/press_release//content-1.php Equitable Bank https://www.equitablebank.ca/covid-19 First National https://www.firstnational.ca/residential/covid-19 Haventree Bank https://www.haventreebank.com/ Home Equity Bank https://www.homeequitybank.ca/homeequity-bank-communicatio/ Home Trust https://www.hometrust.ca/statement-from-home-trust-on-covi/ HSBC https://www.hsbc.ca/customer-service/covid-19-update/ ICICI https://www.icicibank.ca//deferred-payment-program-mar-202 Industrielle Alliance https://ia.ca/covid-19-updates Magenta https://magentainvestment.ca//magenta-borrowers-affected-/ Manulife https://www.manulife.ca/per/support/update-on-covid-19.html MCAP https://www.mcap.com/covid-19 Meridian https://www.meridiancu.ca/About-Meridian/COVID-19.aspx MERIX https://www.merixfinancial.com/marke/COVID-19-questions.pdf RBC https://www.rbcroyalbank.com/mortgages/skip-a-payment.html RMG https://www.rmgmortgages.ca/covid-19 Scotiabank https://www.scotiabank.com//late/coronavirus-covid-19.html Simplii https://www.simplii.com//abou/covid-19/supporting-you.html Street Capital - See RFA Tangerine https://www.tangerine.ca/en/notice TD https://www.td.com/ca/en/personal-banking/covid-19/faq/ https://www.td.com//personal-ba/covid-19/financial-relief/

A little more background on my post from last week discussing the discrepancy between the cut in the overnight rate and mortgage rates. https://www.cbc.ca//interest-rates-coronavirus-evans-1.551

FAQs: Why are interest rates for mortgages rising when the Bank of Canada is cutting the overnight rate? On the one hand the Bank of Canada lowers the overnight rate so that people with variable rate products (like Lines of Credit, existing variable rate mortgage holders etc.) will have more money in their pockets to put back into the economy by purchasing goods. ... On the other hand, the disruptive forces of Covid-19 have markedly reduced the earnings of banks and other lenders and dramatically increased their risk* when lending money. Basically: the bank has less money coming in and everyone is asking to defer their mortgages plus investors are demanding higher returns. Therefore, their rates have increased over the last couple of weeks. The good news: Mortgage rates are still comparatively low. *This quote was taken from DLCs Chief Economist Dr. Sherry Coopers article Mortgage rates are rising despite large interest rate cuts by the Bank of Canada. Why? from her blog Economic Insights with Dr. Sherry Cooper. This is a wonderful series to follow if you are looking for an explanation of Canadas economic climate that is a little more accessible. Check out the full article here: https://mailchi.mp/58fab6301/why-are-mortgage-rates-rising

https://www.bankofcanada.ca/20//press-release-2020-03-27/

For anyone who could use a little help right now. https://www.bnnbloomberg.ca/big-six-coordinate-relief-inclu

https://www.facebook.com//a.95803148093/3566357330104498/

This Spring move more than just your clocks forward you can start by getting your finances in order. 1. Start paying down debts do this slowly and you will stick to it! 2. Resist taking on more debts 3. Save, Save, Save... 4. Make a plan. Reach out to your financial advisor and your mortgage broker for a goal planning session! Time to Spring Forward!

Breaking https://www.bankofcanada.ca//03/fad-press-release-2020-03/

Looking to up-size your home? First things first: When you up-size you will need to increase the amount of your mortgage. But if you go to the bank, youll find the experience similar to dealing with your cell phone or cable provider. That is: they will have all these amazing deals and promotions buttheyre only for new clients. ... Youre almost never offered the banks best available rate on the new money added to your mortgage. They think theyve got you right where they want you because whos going to go through the trouble of breaking their mortgage just to get a better rate? Often you can actually save a tonne of money by breaking your mortgage and setting up a new one at the lowest rate on the market. Sometimes its worth it and sometimes its not but its always worth looking into. And lucky for you, you have a mortgage broker on your side who will give you a straight answer.

This Valentines Day, Love your Mortgage: By working with someone who is working for you! Your mortgage agent is on YOUR team they will find you a mortgage you LOVE.

This Valentines Day, Love your Mortgage: By making it work for you. Use your mortgage to help you do the things youve always wanted to. Renovate. Travel. Pay off Debt. Go back to school. Love your Mortgage. Love your Life!

This Valentines Day, Love your Mortgage: By making it portable. Bring your rate wherever life takes you.

Dont Sweat It Are you looking to buy a house and sweating over a missed payment or anything else that may have left a blemish on your credit? A situation I frequently run into is having a client come to me after being declined by the bank confused about why they didnt get approved even though they have a high credit rating and a consistent employment history. The fact is you can have good credit and still have blemishes that leave your application vulnerable to being declined. Dont sweat it - just give me a shout 613-797-9111

Thats one way to get things done! https://www.cbc.ca//real-estate-house-hunting-swap-search-

House hunting this weekend? https://www.cbc.ca//o/housing-real-estate-homes-1.5415644

https://ottawacitizen.com//supply-shortage-drives-ottawa-h

How are you going to spend this weekend? Getting to know your neighbours and spread some Christmas cheer? https://facebook.com/events/552222145512647/?ti=icl... Or get some shopping done? https://facebook.com/events/s/cheerfully-made-saves-christma/413980429545784/?ti=icl

Feedback Friday!

Real Reason to Use a Mortgage Broker #7: Get Something That Suits You. A mortgage is not one-size-fits-all; its more like a good suit. Its made to fit your needs, and a mortgage agent is your personal tailor. Dont try to squeeze yourself in to a mortgage thats too restrictive for you. If you know youre going to move, make sure you have the option to port your mortgage. If an old country house is more your style than a shiny new-build, find out about Purchase Plus Improvement options. If you want to buy a second home/cottage we can find a way to tap into the equity of your home to make that dream a reality. There are so many ways to get a mortgage thats perfectly fitted to your situation, and a mortgage agent can help with that. Need a tailor? DM me or call me today!

Still time to get in the Christmas spirit and shop local! https://facebook.com/events/723585244814286/?ti=icl

Considering Cosigning? Consider this: Cosigning is a great way to help someone close to you get approved for a mortgage. Its an option that is increasing in popularity as house prices rise and mortgage qualifications become more strict. It is definitely something worth thinking about but there are some things you should consider.... 1. Talk to your own accountant. Understand how this will affect your personal finances. 2. Their late payments will affect you directly. Understand that you are entrusting your credit history to the borrowers. 3. Plan with the borrower and broker. Come up with a strategy that outlines a realistic timeline for when the borrower can assume the mortgage on their own. 4. Dont allow your desire to help blind you to the reality of the situation. Understand the borrowers financial stability. 5. Be sure you are using a mortgage agent. You want someone who will consider the best interest of all parties involved and have the ability to look at the situation from all angles.

https://www.cbc.ca//canada-home-sales-rise-in-october-1.53

Need a Pre-Approval? SNOW Problem! Its really as easy as picking up the phone and calling your mortgage broker! Ill even give you my number again in case you lost it Call (613) 979-9111 and get Pre-Approved!

Tonight, dont forget to:

The weekend is here and that means lots of people are getting appraisals done in their homes. Heres a few tips on what to do if you have an appraisal coming up: Full article: https://dominionlending.ca//need-an-appraisal-7%C2%BD-tip/