Tom Johnson
440 Niagara St, Unit 6A L3C 1L5 Welland, ON, Canada

I'd like to wish you and your family a safe and Merry Christmas! #welland #niagara #MortgageAgent #mortgage #niagara

Looking to buy a house in Canada? Before applying for a mortgage pre-approval, you should check your credit score in order to ensure you can be approved for a mortgage in the first place. The bottom line is, the lower your credit score is, the more consequences you're likely to experience. This is why, even if it may take longer than expected, you may want to hold off on buying a house until your low credit score is resolved. https://www.canadianrealestatemagazine.ca//what-is-a-good-

The Bank of Canada opted to keep its benchmark interest rate steady at 0.25 per cent on Wednesday, noting that Canada's economic recovery from COVID-19 is proceeding in line with expectations. The bank said that while new infections and lockdowns continue to hold back Canada's economy, stronger demand for energy has pushed up the price of oil, which is giving it a boost. And news of looming vaccines rolling out is also helping. https://www.cbc.ca//bank-of-canada-benchmark-interest-rate

A bit of a longer read but well worth it to smile at the end and be proud to be Canadian !! https://www.ctvnews.ca//a-canadian-man-drives-a-stranded-a

THE REALITY OF REVERSE MORTGAGES : Many Canadians preparing for retirement today are house rich but cash poor as they have a significant portion of their net worth tied up in their principal residences. Those that have been lucky enough to own a home often have a net worth that appears healthy as housing prices have appreciated significantly but as they enter retirement they quickly realize cash flow is challenged. CPP and OAS cover only a fraction of monthly costs. As a result more and more people are relying on reverse mortgages as a solution to their cash flow deficits in retirement. To read more from my latest blog entry about the reality of reverse mortgages click here: https://tomjohnson.ca/blog_post?id=1658

For example, if one pays $1,800 in rent, it would be reasonable to determine that one could afford a mortgage payment and property taxes for the same amount or higher when looking at affordability, he says. https://www.mortgagebrokernews.ca//new-hope-for-firsttime-

The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbedIn our current projection, this does not happen until into 2023, the Bank’s statement read. https://www.canadianmortgagetrends.com//bank-of-canada-si/

Congratulations to the Pelham Panthers bantam hockey team! https://thevoiceofpelham.ca//pelham-panthers-celebrate-om/

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I can help with your mortgage needs, call me at (905) 323-5019 or email [email protected]