Mortgage Blog - Your Edmonton Mortgage Broker: Natalie Wellings

Category: Mortgage News (181 posts)

Things are looking up!

October 24, 2024 | Posted by: Natalie Wellings

It was widely speculated and anticipated for weeks, and now it’s finally here! A gift from the Bank of Canada in the form of a 50-basis point cut! The central bank cut its rate yesterday by 0.50 ...

Prime rate remains unchanged!

January 24, 2024 | Posted by: Natalie Wellings

The Bank of Canada has left their key interest rate unchanged in their first rate announcement of 2024. This decision does not come as a surprise as most analysts were expecting that the prime ra ...

No change today but who knows what will happen in 2024!

December 6, 2023 | Posted by: Natalie Wellings

The guessing is over for 2023! The Bank of Canada has maintained its key interest rate in its last announcement of the year. Consequently, the prime mortgage rate remains at 7.20%. The central bank i ...

Another increase by the BoC

June 8, 2023 | Posted by: Natalie Wellings

Yesterday, the Bank of Canada made its fourth policy decision of 2023. Much to the disappointment of many Canadians, it increased the prime rate by 0.25%. This rate hike will affect you if you ...

Programs to assist First Time Buyers:

June 8, 2023 | Posted by: Natalie Wellings

Here is the breakdown of a couple of programs available right now which support first time buyers in obtaining home ownership: First Time Home Buyers Incentive Program (FTBI) Mandate is to mak ...

Bank of Canada Interest Rate Announcements 2023

June 8, 2023 | Posted by: Natalie Wellings

If you have a variable-rate mortgage, or a home equity line of credit, you’ll want to note the following dates in your calendar. These dates are scheduled for an interest rate announcement by th ...

Variable versus fixed over the last 25 years...

January 24, 2023 | Posted by: Natalie Wellings

If you are one of the many Canadians mulling over the 'variable or fixed' decision, you may find this helpful. This chart, provided by my lending partner CMLS, details variable versus fixed rates over ...

If you have a variable rate or HELOC mortgage, your rate has gone up by 0.75%.

September 12, 2022 | Posted by: Natalie Wellings

I was away last week, at a conference, so you have likely already heard the big news since it’s absolutely everywhere right now. Last Wednesday, the Bank of Canada announced another hike to the ...

If you have a variable rate mortgage, your rate has gone up by 1%.

July 14, 2022 | Posted by: Natalie Wellings

You have likely already heard the news; the Bank of Canada has announced a hike to the prime rate. The prime rate affects those with variable or line of credit mortgages, only. It does not affect fixe ...

Changes to the First Time Home Buyer Incentive Program

June 2, 2022 | Posted by: Natalie Wellings

The Government of Canada has made a change to the First Time Home Buyers Incentive program which offers a payment and interest-free loan to qualified home buyers. Previously, when the incentive was r ...

50 basis point increase to the prime lending rate!

June 1, 2022 | Posted by: Natalie Wellings

In today’s announcement, the Bank of Canada increased its key lending rate by 0.50%. This move was widely predicted. If you have a $400,000 mortgage this would mean an increase of about $100/mon ...

Variable versus fixed!

May 19, 2022 | Posted by: Natalie Wellings

If you have recently gotten pre-approved to get a new mortgage, or received a renewal notice from your current mortgage lender, you are likely experiencing some sticker shock. Yes, rates are h ...

Interest Rate Announcement: 0.50% increase to prime rate!

April 13, 2022 | Posted by: Natalie Wellings

The Bank of Canada announced a 0.50% increase to the prime rate, this morning. This is the first time the Bank of Canada has increased by more than 0.25% in over 20 years! The rate increase was not un ...

Increase to prime lending rate

March 4, 2022 | Posted by: Natalie Wellings

On Wednesday, the Bank of Canada announced a 0.25% increase to the prime rate. This has resulted in the major banks adjusting their prime rates to 2.70% from 2.45% (where it has been since the pandemi ...

Final Interest Rate Announcement for 2021

December 9, 2021 | Posted by: Natalie Wellings

Yesterday, the Bank of Canada made its final rate decision of 2021. No change was expected and no change was made to the benchmark rate. For those with variable-rate mortgages, or home equity lines ...

This December, we are standing up to cancer.

November 23, 2021 | Posted by: Natalie Wellings

Recently our parent company, Tango Financial, received a call to action from one of our industry peers. Robert Afan, Co-Founder & CEO of DLC Clear Trust Mortgage challenged Tango and our family of ...

National Day of Truth and Reconciliation on September 30, 2021

September 29, 2021 | Posted by: Natalie Wellings

My office will be closed on Thursday, September 30th in observance of the National Day for Truth & Reconciliation. May we all take some time to pause and reflect on the impact of c ...

Liberal Platform on Housing

September 23, 2021 | Posted by: Natalie Wellings

The Liberal Party proposed quite a few tweaks to the housing market in their election platform. Here is a great article explaining the proposed amendments, in detail. A lot of these proposed changes a ...

Changes to the stress test June 1st 2021

May 28, 2021 | Posted by: Natalie Wellings

The real estate market has been incredibly busy this year with a hot real estate market and low interest rates which has prompted many to buy a new property or refinance their existing mortgage. Lende ...

Down Payment Documentation Tip

May 14, 2021 | Posted by: Natalie Wellings

If you are planning on buying a home and you’re reading this, please do yourself a favour and leave your down payment money in one account for at least 90 days! The more you transfer it around, ...

If you need a mortgage, you need a finance condition on your offer...

May 11, 2021 | Posted by: Natalie Wellings

My motto has always been “if you need a mortgage then you need a finance condition on your offer”. Going unconditional when you absolutely need financing is scary. A pre-approval holds a r ...

Mortgages without a credit score

January 5, 2021 | Posted by: Natalie Wellings

This is a great reminder that, in order to obtain credit (a mortgage), you need to be able to show a lender that you can responsibly manage credit. Having no credit is similar to having bad credit. It ...

Holiday hours and Merry Christmas!

December 23, 2020 | Posted by: Natalie Wellings

Merry Christmas and Happy New Year! My office will be closed from Dec 24th until the 29th. I will be in the office on the 29th and 30th and then returning to regular business on Monday, January 4th. ...

Bank of Canada Interest rate announcement: December 9th 2020

December 9, 2020 | Posted by: Natalie Wellings

In today’s policy announcement, the Bank of Canada left their key interest rate unchanged at 0.25%. The prime rate used for variable-rate mortgages and home equity lines of credit is 2.45% and w ...

Let's meet virtually!

December 4, 2020 | Posted by: Natalie Wellings

Worried about having to meet me in person to sign your mortgage documents? Don’t! Because of the pandemic, my lending partners have been allowing mortgage documents to be electronically signed. ...

Is your credit affected when checked?

November 25, 2020 | Posted by: Natalie Wellings

The number one question I am asked is, “does applying for a mortgage or having my credit checked ruin my credit score”? The short answer is no! It is normal (and okay!) to have your credit ...

Changes to CMHC insured mortgages starting July 1st 2020...

June 5, 2020 | Posted by: Natalie Wellings

Over the last few months, I have found lenders and insurers scrutinizing files more than usual. CMHC has just released some new underwriting guidelines where they will restrict housing costs to 35% of ...

Creative solutions to help homewowners...

April 30, 2020 | Posted by: Natalie Wellings

These are times of uncertainty and you might be stressed and hesitant to make a purchase or transfer your mortgage to a new lender right now. I can help! One of my lending partners is offering ...

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 ...

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 ...

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 ...

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 ...

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 ...

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! ...

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: ...

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 ...

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 ...

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 ...

Bank of Canada Rate Increase

October 24, 2018 | Posted by: Natalie Wellings

By now you have likely heard that the Bank of Canada has increased the prime rate. This is the 5th increase since last summer. The prime rate has increased from 3.70% to 3.95%. When the prime rate inc ...

What is your relationship with debt?

September 6, 2018 | Posted by: Natalie Wellings

Debt does not have to define you! I heard this on the radio last week and have been meaning to post it. The burden of debt. It is a real problem and I see the emotional effects of it when I am speakin ...

How are Mortgage Broker's paid?

August 22, 2018 | Posted by: Natalie Wellings

There is sometimes confusion on how a Mortgage Broker gets paid; I get a lot of questions from clients about that. We are 100% commission people and are compensated by the mortgage lender (not the bor ...

CMHC to make financing easier for self employed Canadians...

July 19, 2018 | Posted by: Natalie Wellings

CMHC has announced that they will be making it 'easier' for self employed borrowers to obtain a mortgage. I have not received any concrete information on what this means as of yet. If you have gotten ...

Variable rate mortgages are going up!

July 11, 2018 | Posted by: Natalie Wellings

...

Bank of Canada Rate Anouncement

March 7, 2018 | Posted by: Natalie Wellings

In an announcement made earlier today, the Bank of Canada left their prime lending rate unchanged. Canadian financial institutions have left their prime lending rate unchanged as a result of the ann ...

How to use your RRSP to pay your mortgage

March 2, 2018 | Posted by: Natalie Wellings

Did you know that you could give yourself a mortgage loan from your RSP's? This strategy is very interesting, especially if you currently invest into GIC's at very low rates of return within your RSP ...

Mortgage changes are coming- are you ready?

December 8, 2017 | Posted by: Natalie Wellings

On January 1st all conventional mortgages will be subject to a stress test. This affects all buyers who are putting 20%, or more, down and are getting an uninsured mortgage. If you are confused about ...

Buying a home in 9 easy steps...

November 24, 2017 | Posted by: Natalie Wellings

Download a pdf version HERE... ...

Car loans that are too long...

November 17, 2017 | Posted by: Natalie Wellings

I am so glad to hear that Marketplace is doing a story on car dealerships pushing longer term loans for consumers. I have always thought that any car loan longer than 5 years is too long. If you canno ...

New stress test for conventional mortgages

October 17, 2017 | Posted by: Natalie Wellings

Current mortgage rules state that borrowers who put more than 20% down on a home DO NOT have to qualify for a mortgage with a stress test. The stress test ensures that borrowers qualify for the mortg ...

Why you should not panic about the Bank of Canada rate increase...

July 12, 2017 | Posted by: Natalie Wellings

This should come as no surprise since the media has been all over this story lately. Yes- the Bank of Canada increased their prime lending rate by 0.25%! It is important to keep some perspective on t ...

Value that's hard to beat!

June 21, 2017 | Posted by: Natalie Wellings

“Strive not to be a success, but rather to be of value”- Albert Einstein Mortgage Brokering is extremely competitive. Not only are we competing with our fellow Mortgage Brokers but we are ...

No change to key interest rate- Bank of Canada

April 19, 2017 | Posted by: Natalie Wellings

Once again, the Bank of Canada announced that it is maintaining its target for the overnight rate at ½ percent, despite stronger-than-expected global and domestic economies. While ...

Variable rate holders- no change to your mortgage rate!

April 12, 2017 | Posted by: Natalie Wellings

The Bank of Canada is keeping the target for the overnight rate at ½ percent. In a rather brief interest rate announcement, the Bank noted that, while there are 'significant uncertainties' that ...

Money Talk

April 5, 2017 | Posted by: Natalie Wellings

This time of the year there is lots of chatter going on out there about investing, since the deadline to contribute to RRSP’s for the 2016 tax year is March 1st. Naturally, all of this ...

HOW MUCH ARE YOUR GRANDCHILDREN COSTING YOU?

March 29, 2017 | Posted by: Natalie Wellings

Although Millennials are waiting to have children until they're a little older (and more financially secure), a new study from TD Ameritrade reveals they're still receiving quite a bit of he ...

BREAKING: CMHC announces increase to insurance premium rates

March 22, 2017 | Posted by: Natalie Wellings

In an announcement made earlier today, the cost of CMHC insurance will increase, starting on March 17th 2017. For buyers with the minimum 5% down payment, the premium will rise from 3.60% to ...

Resolve to pay your mortgage off faster

March 15, 2017 | Posted by: Natalie Wellings

With the New Year just beginning, there's no better time to set some goals for the year ahead. But while health and fitness tend to be top-of-mind these days-particularly after the food-fest known as ...

Merry Christmas & Thank you!

March 8, 2017 | Posted by: Natalie Wellings

The best part of the Christmas season is that work slows down enough that I can take some time to reflect on what has happened in the last year. 2016 was a great one, despite the rough times in Albert ...

Tips to stay within budget at Christmas

March 1, 2017 | Posted by: Natalie Wellings

The holidays can be a financially stressful time of year-particularly when you have lots of people on your Christmas list. And while we'd all love to have the foresight (and discipline) to save for th ...

Making sense of mortgages in Edmonton

February 22, 2017 | Posted by: Natalie Wellings

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An explanation of spousal separation mortgages in Edmonton...

February 15, 2017 | Posted by: Natalie Wellings

Your relationship is over and you want to keep the house. What happens now? Fortunately, there is a program offered by Canada’s mortgage default insurers (CMHC, Genworth & Canada Guaranty) ...

Confused about the new mortgage rules?

February 8, 2017 | Posted by: Natalie Wellings

As per my previous blog posts; new housing policies have recently come into effect which will greatly affect mortgage qualification. Do these changes affect you? In order to clear t ...

Big banks win, alternative lenders lose with new mortgage rules: First National Financial CEO

February 1, 2017 | Posted by: Natalie Wellings

The CEO of one of my favourite mortgage lenders, First National, explains the recent mortgage changes and the effect these will have on the industry and consumers to BNN. First National is the largest ...

Breaking news: Government of Canada changing mortgage qualifying rules

January 25, 2017 | Posted by: Natalie Wellings

In an announcement earlier today, the Department of Finance outlined new measures to maintain the stability of the housing market. They announced that there will be a stress test required for ALL insu ...

Avoid getting in over your head when purchasing a home...

January 18, 2017 | Posted by: Natalie Wellings

Barbara Knoblach, a certified money coach with Money Coaches Canada. spent some time speaking on Edmonton AM this morning. She offered some great tips on keeping it real when purchasing real ...

HOME BUYERS' TAX CREDIT 101

January 11, 2017 | Posted by: Natalie Wellings

HOME BUYERS' TAX CREDIT 101 If you bought a home in 2015, you may or may not be aware that you're eligible for a Federal tax refund this upcoming tax season. If you'd like to learn more about the F ...

Navigating the financial fallout from a divorce...

January 4, 2017 | Posted by: Natalie Wellings

Navigating the financial fallout from a divorce... Divorce will create havoc in your emotional life, but likely even more so with your finances. I have long said that it is way too easy to tie the kn ...

Save on your income taxes and save for a down payment at the same time!

December 28, 2016 | Posted by: Natalie Wellings

Did you know? If you are a first time buyer, you are able to withdraw up to $25,000 from your RSP account, tax free. The funds can be used for the down payment on your new home. The program stipulates ...

Merry Christmas!

December 21, 2016 | Posted by: Natalie Wellings

A huge thank you to all of my clients and referral sources for making 2015 my best year yet! It has been a pleasure getting to know you while helping you achieve your goals! Best wishes for a very M ...

CHANGES TO THE MINIMUM DOWN PAYMENT COMING...

December 14, 2016 | Posted by: Natalie Wellings

As you have likely already heard on the news, earlier this morning the Finance Minister announced changes to the minimum down payment on houses valued over $500,000. Effective February ...

Why Mortgage Brokers are invaluable: Reason # 4

December 7, 2016 | Posted by: Natalie Wellings

#4 Your broker finds solutions that fit your needs Your broker will help you navigate the confusing road map of rate types, mortgage options and terms to decide which solution is best fo ...

Why Mortgage Brokers are invaluable, Reason #5

November 30, 2016 | Posted by: Natalie Wellings

From one of my lending partners, B2B Bank: 'While we know your expertise and guidance can be invaluable, there are still a lot of home buyers and homeowners out there who may not understand what a mor ...

Millennials: don't avoid credit!

November 23, 2016 | Posted by: Natalie Wellings

The only way to build credit is to use credit wisely. I sometimes come across younger adults who want to purchase a home but don't have a credit score because they have decided that it's best not to h ...

A rate cut cuts both ways

November 16, 2016 | Posted by: Natalie Wellings

Earlier this morning, the Bank of Canada announced that it is cutting its key interest rate by 0.25%. The jury is out whether the country's financial institutions will also follow suit (in J ...

The elephant in the room

November 9, 2016 | Posted by: Natalie Wellings

The elephant in the room I just got off the phone regarding a deal for someone who was in their mid twenties, with zero credit history. Never had a credit card or a loan of any kind. Her Mom phoned m ...

First Time Home Buyer's Tax Credit Information

November 2, 2016 | Posted by: Natalie Wellings

If you're a first time buyer this year, you'll want to know about the First Time Home Buyers Tax Credit! ...

DO YOU HAVE AN EMERGENCY FUND?

October 26, 2016 | Posted by: Natalie Wellings

I heard something interesting the other day, that went along the lines of ‘if you’re financially well-off enough to save for an emergency fund, you likely don’t need an emergency fun ...

More house than they need?

October 19, 2016 | Posted by: Natalie Wellings

The 'what if's' in life are something to be considered when purchasing a home. Could you still afford the home if you, or your spouse, lost a job? If one of you became sick? Would you still comfortabl ...

NDP cancels land title fee increases

October 12, 2016 | Posted by: Natalie Wellings

NDP cancels land title fee increases I've had several deals in the last few weeks where the buyers were very concerned about avoiding the new fee increases to land transfers and mortgage registration ...

More rate cuts in our future?

October 5, 2016 | Posted by: Natalie Wellings

MORE RATE CUTS IN OUR FUTURE? It’s hard to believe that just a few short months ago the question on everyone’s mind was “when is the Bank of Canada going to start hiking interest ra ...

Bank of Canada cuts key interest rate

September 28, 2016 | Posted by: Natalie Wellings

It looks like the drop in oil has benefits other than lower prices at the pumps. Today, the Bank of Canada announced it will lower its target for the overnight rate by 0.25%-taking it down to 0.75%. W ...

Do you know how much home you can really afford?

September 21, 2016 | Posted by: Natalie Wellings

Now that the New Year is off and running, and the holiday financial hangover just beginning, many of you are likely sitting down to revamp your budgets. If finances have been tight, or if you’re ...

One little secret to avoiding a housing slowdown

September 14, 2016 | Posted by: Natalie Wellings

We’ve been hearing about the risks of housing overvaluation in Canada for the last few years. While there’s no way to tell for sure when housing prices will stop increasing, as this articl ...

Interest Rate Announcement

September 7, 2016 | Posted by: Natalie Wellings

As expected, the Bank of Canada decided to stand pat on interest rates today, leaving the target for the overnight rate at 1%. While inflation increased by more than expected since October, it still ...

No-buy November?

August 31, 2016 | Posted by: Natalie Wellings

Here’s an interesting concept: What if, for the entire month of November, you only spent money on the bare essentials? That means no dinners out, no new clothes – no Starbucks. I'll be hon ...

New product from Equifax for new Candians and younger borrowers with little credit history

August 24, 2016 | Posted by: Natalie Wellings

This new scoring product from Equifax will help with applications for new Canadians and younger borrowers with little to no credit history: http://www.marketwired.com/press-release/-1958126.htm ...

When will interest rates rise?

August 17, 2016 | Posted by: Natalie Wellings

Now that the US economy is showing more significant signs of recovery, the topic of interest rate increases is dominating conversations once again. It’s a widely held belief that once our neighb ...

Protect yourself when renovating your home

August 10, 2016 | Posted by: Natalie Wellings

Did you know that any contractor that asks for payment or a deposit at your home before completing any work must be licensed through Service Alberta? If you are dealing with a contractor and wan ...

4 WAYS TO MEASURE YOUR FINANCIAL HEALTH

August 3, 2016 | Posted by: Natalie Wellings

4 WAYS TO MEASURE YOUR FINANCIAL HEALTH So you finally paid off your credit cards and you have a bit of money in the bank - but are you financially healthy? If you want a true reading of your ...

Build a budget that works

July 27, 2016 | Posted by: Natalie Wellings

The key to successfully managing your money is to create a monthly budget that actually works. Everyone spends differently so it's important to be realistic (make achievable goals) and to stick with i ...

As predicted, the Bank of Canada announced yesterday that it will maintain its overnight rate at 1% -allowing variable rate mortgage holders to, yet again, breathe easy. Although CPI inflation reache

July 20, 2016 | Posted by: Natalie Wellings

As predicted, the Bank of Canada announced yesterday that it will maintain its overnight rate at 1% -allowing variable rate mortgage holders to, yet again, breathe easy.Although CPI inflatio ...

What if bi-weekly payments don't fit with your lifestyle?

July 13, 2016 | Posted by: Natalie Wellings

What if bi-weekly payments don't fit with your lifestyle? Have you heard? 68% of people in their twenties, who responded to a survey conducted by Manulife, don't consider mortgages to be debt. ...

8 Money Blunders Just-Married Couples Often Make

July 6, 2016 | Posted by: Natalie Wellings

Anyone who is (or has been) married will certainly agree with this list! Financial matters can create a lot of strain on an otherwise healthy relationship so this is a really good article to send to a ...

Did you know? Alberta Introduces New Home Warranty Legislation

June 29, 2016 | Posted by: Natalie Wellings

Have you heard? As of February 1st 2014, all new homes built in Alberta will require new home warranty. The Alberta Government's New Home Buyer Protection Act encourages higher quality standards to pr ...

Are baby boomers skewing housing prices?

June 22, 2016 | Posted by: Natalie Wellings

Are baby boomers skewing housing prices? There's been a lot of talk in the media lately about the 'bank of Mom and Dad effect' on the Canadian housing market. CMHC has recently launched ...

Trading in my laptop for a paint brush...

June 15, 2016 | Posted by: Natalie Wellings

Trading in my laptop for a paint brush... On May 2nd, I had the pleasure of spending the day on Habitat for Humanity's Southside build with an awesome group of Axiom employees and Mortgage Brokers. I ...

Writing an offer without a financing condition is playing Russian Roulette; here's why

June 8, 2016 | Posted by: Natalie Wellings

Writing an offer without a financing condition is playing Russian roulette; here`s why In this crazy spring market I have started to hear rumblings of home buyers writing offers on homes without a f ...

Bank of Canada: no change to key lending rate

June 1, 2016 | Posted by: Natalie Wellings

Thursday, April 17, 2014 Bank of Canada: no change on key lending rate As per the rate announcement yesterday, the Bank of Canada decided to leave its key interest rate unchanged. The Bank announc ...

Can you really afford that home?

May 25, 2016 | Posted by: Natalie Wellings

Can you really afford that home? Here's a great article from Rob Carrick of the Globe and Mail explaining that one should 'never take a lender’s word for it that you can afford a house'. I actu ...

A book for every woman:

May 18, 2016 | Posted by: Natalie Wellings

Being in the financial services industry, I come across a lot of difference scenarios, from the good to the bad and the very ugly. I deal with transactions involving women in all different l ...

When shouldn't you contribute to an RRSP?

May 11, 2016 | Posted by: Natalie Wellings

When shouldn't you contribute to an RRSP? As RRSP season quickly approaches we are going to hear more and more about the benefits of contributing to an RSP, and how little Canadians are actually inv ...

If you're going to commit to one thing this year, make it this!

May 4, 2016 | Posted by: Natalie Wellings

Thursday, January 2, 2014 If you're going to commit to one thing this year, make it this! A fabulous, sobering reminder from Canadian Mortgage Trends: If you're going to commit to doing one th ...

The Bank of Canada is boring.

April 27, 2016 | Posted by: Natalie Wellings

The Bank of Canada is boring. Unsurprisingly, the Bank of Canada has announced that it will keep interest rates steady for the remainder of 2013 – with the target for the overnight rate sitting ...

A little reassurance from Stephen Poloz

April 20, 2016 | Posted by: Natalie Wellings

A little reassurance from Stephen Poloz There has been so much industry chatter going on lately on whether or not there is or isn't a housing bubble in Canada, my head is spinning. Now the Governor o ...

Buying a home: 1950s vs today

April 13, 2016 | Posted by: Natalie Wellings

Ever wonder what it was like to buy a home in the 1950s? Sure, houses were much cheaper back then, but credit wasn't as readily available. Mortgage default insurance, which today allow ...

No news here.

April 6, 2016 | Posted by: Natalie Wellings

No news here. It's status quo over at the Bank of Canada. As expected, the bank left it's key interest rate unchanged in their rate announcement earlier this morning. If you have a variable rate mort ...

Self-employed? Prepare for a long conversation with your mortgage broker

March 30, 2016 | Posted by: Natalie Wellings

If you are self employed and are thinking of purchasing a home in the near future, you need to read this! I'd highly recommend following the advice offered in this article to increase the likeli ...

How landlords can steer clear of bad tenants

March 23, 2016 | Posted by: Natalie Wellings

How landlords can steer clear of bad tenants In my years as a Mortgage Broker, I have heard many unsavoury stories about renting a property to the wrong tenant. I also know quite a few property i ...

It's okay to splurge once in a while!

March 16, 2016 | Posted by: Natalie Wellings

We've heard so much in the news lately about how Canadians needs to put the brakes on their personal spending and the government has been cautioning us to slow down for quite some time. But, t ...

Alberta government to shy away from mandatory flood warning on land titles

March 9, 2016 | Posted by: Natalie Wellings

Alberta government to shy away from mandatory flood warning on land titles The Alberta government is backing away from a plan to put warnings on land titles for properties in flood-risk zones. I ...

Canada's homes are getting smaller, in everywhere but Alberta

March 2, 2016 | Posted by: Natalie Wellings

Sounds like houses are actually getting smaller these days, in everywhere but Alberta! In Alberta we have a plethora of choice when it comes to housing. We have great condos if you're one for living s ...

Prime rate stays the same...

February 24, 2016 | Posted by: Natalie Wellings

Prime rate stays the same... The new Governor of the Bank of Canada, Stephen Poloz, maintained the status quo set by his predecessor, Mark Carney, by leaving the prime lending rate unchanged in the i ...

Buying a house without taking on more than

February 17, 2016 | Posted by: Natalie Wellings

The housing market has been buzzing in Edmonton over the last month of so. I've been so busy trying to keep my head above water I haven't had time to write a blog entry. But, I wanted to take ...

Why it’s harder for self-employed to get a mortgage

February 10, 2016 | Posted by: Natalie Wellings

Here is a fantastic article from theStar.com explains the ins and outs of getting a mortgage if you're self employed. Alberta has a large number of entrepreneurs and, consequently, I get a fair amount ...

Loyalty and mortgage renewals don't mix!

February 3, 2016 | Posted by: Natalie Wellings

When it comes to renewing your mortgage with your current financial institution, those loyal customers that simply sign on the dotted line often don't get the best deal according to a paper published ...

The low interest rate trap

January 27, 2016 | Posted by: Natalie Wellings

I can't say it enough; this is an excellent opportunity to use today's low interest rates to your advantage by paying extra on your mortgage. I truly feel that if you cannot afford to do this, then yo ...

When you look for a mortgage, shop local...call a Mortgage Broker!

January 20, 2016 | Posted by: Natalie Wellings

When you look for a mortgage, shop local...call a Mortgage Broker! By now you've probably all heard the news story about how RBC is laying off 45 Canadian workers to outsource their jobs to a ...

Where do mortgage rates go from here?

January 13, 2016 | Posted by: Natalie Wellings

Here's a great article explaining what's going on with the current mortgage interest rate environment. As per the author, interest rates are unbelievably low right now and yet, the housing market is c ...

Why Homebuyers Should Go for Shorter Amortizations

January 6, 2016 | Posted by: Natalie Wellings

There are many different plans of attack when attempting to pay your mortgage off faster. In this article, from The National Post, the author argues that a shorter amortization is a good strategy. Equ ...

Jim Flaherty weighs in on the low rate war

December 30, 2015 | Posted by: Natalie Wellings

5 year fixed rate mortgages just came down, again. I've never seen rates this low before. But, is it good for the health of the housing market? Finance minister, Jim Flaherty weighs in. Cu ...

Why the Home Buyers' Pan should be eliminated

December 23, 2015 | Posted by: Natalie Wellings

In this article, Rob Carrick from the Globe and Mail explains why he believes the federal government should eliminate the Home Buyers' Plan (the plan allows first time home buyers to withdraw ...

11 Tips for Financial Health

December 16, 2015 | Posted by: Natalie Wellings

I am a regular reader of Moneyville, a fantastic online resource for personal finance tips and tricks. They have recently shut down and re-opened as the Toronto Star's personal finance. The editor wa ...

Bank of Canada- Rate Announcement

December 9, 2015 | Posted by: Natalie Wellings

Once again, the Bank of Canada has announced that it won't be changing interest rates -- so variable rate holders will continue to see their mortgage rates stay the same, as the overnight rate conti ...

Should you take out an RRSP loan this year?

December 2, 2015 | Posted by: Natalie Wellings

Let’s be real; saving money can be hard. Attempting to invest enough for retirement can be so unexciting we will often find anything to spend our hard earned dough on other than retireme ...

Why I find Mortgage Brokers invaluable...

November 25, 2015 | Posted by: Natalie Wellings

I sing the praises of Mortgage Brokers every day, but it’s always nice to hear it from a consumer’s mouth. Here’s an article sent to me this morning through Axiom... Why I find M ...

Let this be the last year you stress about RRSP contributions!

November 18, 2015 | Posted by: Natalie Wellings

Now that the holidays have been and gone, many Canadians are turning their attention to the upcoming RRSP season. March 1st is the deadline to contribute to your RRSP and have it reduce your 2012 taxa ...

How to live like the millionaire next door

November 11, 2015 | Posted by: Natalie Wellings

It's 2013 and a fresh start. Time to get back on track with your savings. But how? Here's a great article on how to start from MoneyVille: How to live like the millionaire next door By Adam ...

Holiday Hours

November 4, 2015 | Posted by: Natalie Wellings

In observance of Christmas, my office will be closed until December 27th 2012. I will be returning all calls and emails then. Have a safe and happy holiday! ...

Top 10 Places to Raise a Family in Canada- 2012

October 28, 2015 | Posted by: Natalie Wellings

I just happened to come across this rather old article but I was amazed at how many cities in Alberta were on this list. Out of Moneysense's 10 best places to raise a family in Canada, 5 were in Alber ...

Avoiding a financial holiday hangover

October 21, 2015 | Posted by: Natalie Wellings

The holiday season is in full swing and while this should be a time of great joy, many of us end up feeling tapped out and stressed. Here’s a great article from the National Post offer ...

Bank of Canada announcement

October 14, 2015 | Posted by: Natalie Wellings

How many ways can you say 'Bank of Canada stands pat on interest rates'? Nevermind - we're not complaining! Today the Bank of Canada announced - yet again - that it will maintain its overnight rate a ...

Credit reporting errors: don't be a victim

October 7, 2015 | Posted by: Natalie Wellings

On The National last night they featured a story about errors on credit reports. While this problem isn’t all that common, when it does occur it can create havoc with your life! I have come acro ...

Finally! Alberta Introduces mandatory New Home Warranty legislation

September 30, 2015 | Posted by: Natalie Wellings

Finally! Alberta introduces mandatory New Home Warranty legislation It’s long overdue; mandatory new home warranty. Click the link to watch the news story explaining the details: http ...

Big ambitions need savings plan to match

September 23, 2015 | Posted by: Natalie Wellings

Shane and Sarah are in their early thirties and are just starting a family. Their dreams include a bigger house, more children and a cottage but can they afford to have it all? Here’s a sobering ...

Mortgages- Harder for the self employed?

September 16, 2015 | Posted by: Natalie Wellings

Here’s a great article I just came across in the Globe and Mail explaining the ins and outs of getting a mortgage if you are self employed. Most mortgage brokers specialize in th ...

Saving up for a down payment: The young adult's struggle

September 9, 2015 | Posted by: Natalie Wellings

In an era where rates of savings are down, it appears to be increasingly harder for first time buyers to save the necessary down payment for their first home. Many banks and financial advisers will su ...

Edmonton: A City Well Built

September 2, 2015 | Posted by: Natalie Wellings

If you're thinking of moving to Alberta's Capital City and you're wondering what we have goin' on check out this great video showcasing the great development happening in Edmonton! Video: http://www. ...

Buying a condo? What is the difference between Titled and Assigned Parking?

August 26, 2015 | Posted by: Natalie Wellings

If you’re thinking of buying a condo, one of the items you may want to consider when choosing one building over another is whether parking is assigned or titled. There is a big difference betwee ...

What do the recent mortgage changes mean to your bottom line?

August 19, 2015 | Posted by: Natalie Wellings

Here a quick calculation on the impact of the recent amortization changes on a $300,000 mortgage using an interest rate of 3.09% (the current five year fixed mortgage rate)... Monthly payment w ...

BIG CHANGES TO MORTGAGE QUALIFICATIONS

August 12, 2015 | Posted by: Natalie Wellings

June 21st 2012: In an announcement made earlier today, the Federal Government, via Jim Flaherty has clamped down on mortgage qualification rules. This is the fourth tightening in the last four ...

Sometimes home is sweeter when it's small

August 5, 2015 | Posted by: Natalie Wellings

In this age of rising energy costs and increasing housing costs, more people are opting to raise their families in smaller homes. In the 1950s, the average house was approximately 900 square feet - do ...

Buying a house? Don't go to the bank

July 29, 2015 | Posted by: Natalie Wellings

By lesleyscorgie, Metro CanadaI sold my property last week and I’m in a mad scramble to find a new home. With my wish list in hand and a pre-approved mortgage under my belt, I’m confid ...

A sobering reminder; can you reasonably afford the house you want?

July 22, 2015 | Posted by: Natalie Wellings

Just because a mortgage lender (ie. me and the lenders I work with) tells you that you qualify for a mortgage doesn’t mean you should run out and buy the first house for the full amoun ...

I'm starting to sound like a broken record!

July 15, 2015 | Posted by: Natalie Wellings

In today’s announcement by the Bank of Canada, the key interest rate has remained unchanged at 1%. This means no change to the prime lending rate charged by financial institutions (and c ...

An important reminder: Don’t assume a pre-approval is set-in-stone

July 8, 2015 | Posted by: Natalie Wellings

Bidding wars have become commonplace in hot markets across the country - and so have 'clean' offers, or those that are free from all conditions. While forgoing something like an inspection is risky ...

Demystifying mortgage prepayment penalties

July 1, 2015 | Posted by: Natalie Wellings

When signing a new mortgage, it's easy to get caught up with things like rate and monthly payments, and overlook the features we may need down the road - like prepayment privileges. It doesn't help ...

Variable rate mortgage holders rejoice!

June 24, 2015 | Posted by: Natalie Wellings

In an announcement earlier today, the Bank of Canada has held steady on its key interest rate making this the 12th announcement with no changes...the next scheduled interest rate announcement is Apr ...

Unhappiness & the Fear of Not Fitting In

June 17, 2015 | Posted by: Natalie Wellings

Unhappiness & the Fear of Not Fitting In In light of Mark Carney’s latest warning about the high levels of consumer debt I offer you a sobering article from Gail Vaz-Oxlade about what we ...

HBP vs TFSA to buy your first Home

June 10, 2015 | Posted by: Natalie Wellings

When it comes to scrounging up a down payment for a first home, many homebuyers take money where they can find it. If they've been socking away money in their RRSP for the last few years - and reapin ...

A glimpse into the future: The 2012 Realtors Housing Forecast Seminar

June 3, 2015 | Posted by: Natalie Wellings

Yesterday I had the pleasure of attending the annual C at the Northlands Expo Centre. I love attending this annual event because it gives me a quick overview of what’s been happening in the real ...

Interest Rates down again!

May 27, 2015 | Posted by: Natalie Wellings

Hope you’ve all had a great Christmas and are having a very Happy New Year so far! Wanted to let you all know that the five year interest rate has come down yet again, we are now sitting at 3.29 ...

Merry Christmas and Happy New Year!

May 20, 2015 | Posted by: Natalie Wellings

It’s hard to believe another year is quickly drawing to a close! The holiday season is a great time to stop, take a little break and realize how thankful you are for everything in your life.So ...

Housing market remains

May 13, 2015 | Posted by: Natalie Wellings

The Canadian Real Estate Association has released its latest numbers, showing that existing home sales rose in November. The association cites low mortgage rates as the major factor in the increase ...

Preparing for larger mortgage and debt payments

May 6, 2015 | Posted by: Natalie Wellings

Mortgage interest rates have been at historical lows for quite some time, as we all know, this can only last so long. At some point interest rates will rise and many Canadians will be faced with highe ...

Minimalist living

April 29, 2015 | Posted by: Natalie Wellings

If you've ever pined for more closet space - or a bigger garage - check out these homes. You'll feel better for it!http://blog.buzzbuzzhome.com/2011/04/coolest-tiny-houses-in-world.html ...

We should be more like Edmonton

April 22, 2015 | Posted by: Natalie Wellings

Toronto wishing it was more like Edmonton? Yes, folks...that’s right! Read on to see how the River City rivals other large Canadian cities in regards to its eco-friendliness. We Sho ...

Why it isn't a good idea to keep all your eggs in one basket!

April 15, 2015 | Posted by: Natalie Wellings

Here’s a very interesting article written by a very knowledgeable mortgage broker in Ontario regarding why it’s often not a good choice to hold all of your bank accounts, mortgages, cred ...

Bank of Canada- No change to prime lending rate

April 8, 2015 | Posted by: Natalie Wellings

As predicted, in an announcement earlier today the Bank of Canada has left its key interest rate unchanged at 1%. This is good news for variable rate mortgage holders, and the even better news is that ...

Edmonton is more than a mall

April 1, 2015 | Posted by: Natalie Wellings

What’s the first thing that comes to mind when you mention Edmonton to someone elsewhere? The mall. Yes, we are so much more than that! A great, smaller city with a lot of options for having a g ...

Do we need even MORE changes to mortgage qualification rules? The IMF thinks so!

March 25, 2015 | Posted by: Natalie Wellings

Thursday, October 6, 2011 I heard something a little alarming on the radio this morning; the International Monetary Fund has released a warning that Canadian’s may be taking on too much d ...

Bank of Canada maintains overnight rate target at 1 per cent

March 18, 2015 | Posted by: Natalie Wellings

Wednesday, September 7, 2011 Ottawa, Ontario - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per ...

Canada's Smallest House is on the market

March 11, 2015 | Posted by: Natalie Wellings

A Realtor friend of mine, Jeanine Boutet, posted this on her page the other day and I fell in love with this little house! It was built in 1912, is 350 square feet and totally adorable! This little ...

Your Home Purchase: Part 4

March 4, 2015 | Posted by: Natalie Wellings

Monday, August 29, 2011 Your Home Purchase: Part 4 The average Canadian homebuyer takes 11 months to plan their purchase, according to CMHC. If you’re thinking about buying in the next ...

Your Home Purchase: Part 3

February 25, 2015 | Posted by: Natalie Wellings

The average Canadian homebuyer takes 11 months to plan their purchase, according to CMHC. If you’re thinking about buying in the next year, our four-part series will explain how you should be di ...

The Top ten things that DON’T make me a 'good' mortgage broker

February 18, 2015 | Posted by: Natalie Wellings

Friday, August 19, 2011 The Top ten things that DON’T make me a 'good' mortgage broker This is an article written by a mortgage broker in Kelowna, BC that I greatly respect and admire! She ...

Your Home Purchase: Part 2

February 11, 2015 | Posted by: Natalie Wellings

Your Home Purchase: Part 1

February 4, 2015 | Posted by: Natalie Wellings

Turning your principal residence into a rental

January 28, 2015 | Posted by: Natalie Wellings

So, you're ready to move out of your starter home and into a larger residence. The thing is, your first home is so well-located that you'd love to hold onto it for a little longer - and maybe use it ...

Buy a house, keep a little money in your jeans

January 21, 2015 | Posted by: Natalie Wellings

This week I am going to highlight a great product I can offer! One of the lenders I work very closely with offers a fantastic designer mortgage product which allows you to choose various cash back opt ...

Prime stays the same...

January 14, 2015 | Posted by: Natalie Wellings

In an announcement earlier today, the Bank of Canada left their key interest rate unchanged. The central bank cited several reasons for its decision including a slowly-recovering export market due to ...

The good times are almost here

January 7, 2015 | Posted by: Natalie Wellings

As I lay in bed this morning willing my eyes to open I was half listening to CBC radio’s morning show. They were interviewing a woman working in HR at Ledcor. They are on a hiring spree, trying ...

Don't accept the first price upon renewal

December 31, 2014 | Posted by: Natalie Wellings

Remember all the work and research that went into finding the best rate for your first mortgage? Whether you spent months making sure your credit was as good as can be, or spent hours on the I ...

Job seekers heading back to Alberta

December 24, 2014 | Posted by: Natalie Wellings

According to this Globe and Mail article, Statscan reported that after a two year lull, Alberta now registers as the province with the fastest first quarter job growth in Canada.The majority of migran ...

Flaherty: No more changes to mortgages

December 17, 2014 | Posted by: Natalie Wellings

Jim Flaherty, Canada’s Finance Minister, announced that he does not have plans to tighten mortgage rules any further. Flaherty stated that the country’s housing market remains healthy fo ...

Weird and wonderful facts about Edmonton!

December 10, 2014 | Posted by: Natalie Wellings

I was browsing around the internet, trying to find the latest statistics on the population of the Capital City; I came across the Wikipedia page dedicated to all things e-town and I learned some surpr ...

The perks of using a real estate agent

December 3, 2014 | Posted by: Natalie Wellings

With the Competition Bureau pushing for a more publicly-accessible Multiple Listings Service (MLS), and for-sale-by-owners sites, such as Property Guys, picking up steam, you may be tempted to forgo ...

Best place to raise a family in Canada? St. Albert!

November 26, 2014 | Posted by: Natalie Wellings

Best place to raise a family in Canada? St. Albert! Today’s Parent magazine has voted St. Albert as the best place to raise a family in Canada in their most recent issue.As a long ti ...

Bank of Canada holds steady

November 19, 2014 | Posted by: Natalie Wellings

As expected, the Bank of Canada left it’s key interest rte unchanged stating that they will likely not increase rates until the economy has recovered. Many are not predicting an increase to the ...

Canadians love their U.S. properties

November 12, 2014 | Posted by: Natalie Wellings

For the fourth consecutive year, Canadians led the pack of foreign buyers sweeping up properties in the U.S. Twenty-three percent of foreign buyers were Canadian, with the next-highest group coming fr ...

Condo documents: Why they are important to review in detail

November 5, 2014 | Posted by: Natalie Wellings

A REALTOR® friend of mine, John Carle with REMAX just posted this great article on his blog regarding purchasing a condo and the importance of reviewing your condo documentation thoroughly...."If ...

Alberta joins BC in regulating home inspectors

October 29, 2014 | Posted by: Natalie Wellings

As of September 1, Alberta will become the second province to ensure all home inspectors are licensed and all homeowners who use them are protected. Home inspectors will be required to successfully co ...

Edmonton Mortgage Blog

Your Edmonton Mortgage Broker: Natalie Wellings

Category: Mortgage News (181 posts)