Edmonton Mortgage Blog

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Mortgage Qualifying Rate (Stress Test) Decrease

Mortgage Qualifying Rate (Stress Test) Decrease

March 20, 2020 | Posted by: Natalie Wellings

The Bank of Canada has reduced the mortgage qualifying rate (known as the Stress Test) to 5.04% from 5.19%...What does this mean? It will be a little easier to qualify for a mortgage. Please contact m ... [read more]

COVID-19 & Mortgage Payments

COVID-19 & Mortgage Payments

March 18, 2020 | Posted by: Natalie Wellings

If your mortgage is insured (this means you put less than 20% down) please be assured that the insurers (CMHC, Genworth & Canada Guaranty) are working with mortgage lenders to provide payment reli ... [read more]

COVID-19 Update

COVID-19 Update

March 16, 2020 | Posted by: Natalie Wellings

There will be NO disruption to my business as a result of COVID-19. I can complete your mortgage transaction by email and phone so no need for an in-person meeting. My lending partners have underwrite ... [read more]

Bank of Canada slashes key interest rate!

Bank of Canada slashes key interest rate!

March 5, 2020 | Posted by: Natalie Wellings

If you have not already heard, the Bank of Canada announced a 0.5% rate drop early yesterday! This affects the prime lending rate which is used for variable rate mortgages (not fixed ones). The bank i ... [read more]

Changes to the stress test announced!

Changes to the stress test announced!

February 18, 2020 | Posted by: Natalie Wellings

After mounting pressure to adjust the onerous stress test, federal Finance Minister Bill Morneau, announced a relaxing of the overly stringent test which has made qualifying for a mortgage difficult i ... [read more]

Stress test rate drop

Stress test rate drop

July 19, 2019 | Posted by: Natalie Wellings

Yesterday the stress test rate dropped to 5.19%, from 5.34%. It's not much but we will take it! ... [read more]

What the heck is the First Time Home Buyer Incentive program?

What the heck is the First Time Home Buyer Incentive program?

June 21, 2019 | Posted by: Natalie Wellings

We finally have some information on the new program being rolled out this fall where the government will lend buyers 5-10% of the purchase price of a home… Here’s what we know so far: ... [read more]

Breaking: Home buyer incentives just announced in federal budget!

Breaking: Home buyer incentives just announced in federal budget!

March 20, 2019 | Posted by: Natalie Wellings

Details have just been announced on the new federal budget. There is going to be some sort of loan offered from CMHC to reduce mortgage size. My initial reaction is that this is an odd incentive. I fe ... [read more]

Exclusive Offer for Condo Mortgages!

Exclusive Offer for Condo Mortgages!

December 5, 2018 | Posted by: Natalie Wellings

Exclusive offer for condo mortgages only! One of my lending partners, Street Capital, is offering a $250 Home Depot gift card to purchasers of condo’s! They will send you the gift card after clo ... [read more]

November Economic report & a big thank you!

November Economic report & a big thank you!

November 23, 2018 | Posted by: Natalie Wellings

I had a wonderful time at the Verico Conference, a few weeks ago, where I was awarded the President’s Club award for sale achievements in 2017. A huge thank you to my clients and referral partne ... [read more]

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Natalie Wellings
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