Laurie Krueger
206 - 4303 Albert Street S4S 3R6 Regina, SK, Canada
Category
General Information
Locality: Regina, Saskatchewan
Phone: +1 306-541-8002
Address: 206 - 4303 Albert Street S4S 3R6 Regina, SK, Canada
Website: lauriekrueger.com
Likes: 336
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Thanks to everyone for their awesome questions! Have a question of your own? Send me a message!
Happy New Year! Hoping it brings you health and happiness
From my crazy family to yours: Merry Christmas and all the best in 2021! In lieu of Christmas cards this year, I will be making donations to local animal rescues.
Wondering what factors go into your credit score? Here’s a breakdown: Payment History: 35% Having the biggest impact on your credit score, payment history refers to how reliably you have repaid past debts. Making your payments in full, on time, every time is the best way to strengthen your payment history.... Utilization: 30% The lower your utilization ratio, the less risky you look to a lender. Credit experts suggest keeping your utilization below 30%. For example, if you have a $10,000 limit on your credit card, it’s a good idea to try to accrue less than $3,000 in any given month, or make extra payments to keep that ratio low. Credit History: 15% This portion of your credit score considers the age of your credit profile. A long and reliable history of positive credit behaviour is a good indicator that you will continue to make your payments in the future. New Credit: 10% One of the lesser, but still significant, factors sheds light on your current financial state. Multiple recent credit inquiries, or credit shopping, can indicate financial struggle. Credit Mix: 10% This refers to the different types of credit you have been using. Revolving credit accounts includes credit cards and secured lines of credit. Instalment accounts include mortgages, car loans, and student loans. Managing payments on different types of credit accounts demonstrates strong financial habits. A healthy credit score goes a long way in helping you qualify for the best mortgage rates.
Revisiting Fixed Vs. Variable Mortgages It’s the classic rate decision many mortgage shoppers are faced with. And it’s only been made more complicated since the start of the pandemic. Towards the latter half of 2019, variable rates were flying off the shelves with rates as low as prime 1%. A lot has changed since then. In March, fears over the COVID-19 pandemic and the subsequent lockdown forced most banks and other mortgage lenders to cut their fixed rates from 3.95% to 2....45% within the span of just one month. At the same time, variable-rate discounts were scaled back to just prime 0.15% to 0.25%. By the summer fixed rates were setting historic lows. That led to a dramatic shift in mortgage selection by borrowers. In a recent BMO survey, a majority of homebuyers (57%) said they would choose a fixed rate when it comes time to renew. Among those still on the fence, they admit that COVID has made them more likely to gravitate towards a fixed-rate mortgage. Just 8% said they’d be more likely to choose a variable rate. Why the shift in mortgage preference? First, they’re among the most competitive mortgage products on the market. And many believe variable rates have no more room to fall, given that the Bank of Canada’s overnight target rate is holding at 0.25%. Second, homebuyers are attracted to the stability that fixed-rates offer. They can lock in a rock-bottom rate for five full years. The outlook The BoC, in its recent Monetary Policy Report, suggested that rates won’t be rising until at least 2023, which is when inflation is expected to return to full capacity. Some forecasters, such as those at TD Bank, don’t expect the first-rate hike until 2024. With forecasts like that both variable and fixed could be good options. If you are in the process of shopping for a mortgage and are undecided whether to take a fixed or variable rate, I can help you understand the pros and cons and offer personalized solutions.
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