Client Comments

Thank you so very much for putting so much effort and time for helping us.

-DARIO & MORCIA S., OAKVILLE

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We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.

-TOM & SHAUNA D., TORONTO

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Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino

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Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.

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Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!

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We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

Bank Rate Goes UP – Residential Mortgage Rates Stay Put

Published June 2, 2010

Toronto Mortgage Broker

“The Anticipated Bank of Canada Rate Increase Does Not Impact Residential Mortgage Rates”

The much anticipated Bank of Canada interest rate increase took place as anticipated on June 1, with the central bank rate moving up from 0.25% to 0.50%.

At the same time, the long term bond rate dropped, providing some mortgage providers to actually drop rates.

It is very uncommon for short term rates to rise while long term rates are falling, but we live in strange times to say the least. All the financial fallout in Europe has pulled down the bond market which provides mortgage lenders with a lower cost of capital.

With more global economic uncertainty, the seems to be the same upward pressure on interest rates that we were seeing just a month or so ago. While near terms rates are still very possible, there seems to be a growing possibility that rates will not move any further for the foreseeable future.

So with all of that said, what does it mean to residential mortgage holders that have variable rate mortgages or that are looking at fixed rate products.

The continuing message is to make sure that you are aware of what your cash flow is going to be able to handle. If you’re like 33% of Canadian mortgage holders that are taking advantage of variable interest rates, the prognosis for variable rates to stay low are pretty good. But even small movements in mortgage rates can be more than some cash flows can handle. So make sure you have a good grasp on the wiggle room you have in your monthly cash flow so you can proactively project how much of an interest rate increase you can sustain before it starts to impact your monthly payment requirements.

One thing is for sure, rates are going to continue to ebb and flow, based on a lot of things we have no direct control over or even understanding of, like the financial dynamics in the European Union.

Hopefully the current run of low mortgage rates will continue. Just make sure you can adjust to higher rates if and when they occur versus just hoping that they won;t.

Click Here To Speak To Mortgage Broker Joe Walsh.

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Ontario Mortgage Broker

Bank Rate Goes UP – Residential Mortgage Rates Stay Put

“The Anticipated Bank of Canada Rate Increase Does Not Impact Residential Mortgage Rates”

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