27 Jan

Happy Birthday Dominion Lending Centres

General

Posted by: Tammy Poirier

Dominion Lending Centres turns 4 years old today!

 

In this short time Dominion Lending Centres has grown from one mortgage broker to over 1,500 mortgage brokers across Canada.  And, guess what – we have not only managed to succeed but, in 2009, Dominion Lending Centres Mortgage Professionals funded more mortgage volume than any other brokerage in Canada!

 

It’s thanks to the top-notch mortgage professionals who have believed in DLC and what the company stands for as well as a head office team second-to-none that supported Gary and Chris’ vision and sealed the deal for DLC’s success!

 

Congratulations!

20 Jan

Up or Down?

General

Posted by: Tammy Poirier

Last week there were threats that fixed rates were going to rise… and yes, a handful of Lenders raised their 3 and 5 year rates a bit, but it seems they are starting to drop again.

As of today, the 5 year rate is as low as 3.75% if you close by February 23, 2010.

If you would like to take advantage of this low rate, call or email me today!

6 Jan

Now is The Time to Buy

General

Posted by: Tammy Poirier

Canadian Finance Minister Jim Flaherty has vowed to intervene in the hot housing market if prices reach “irrational” levels, leading to both praise and scorn over the holiday period.

In an interview with CTV News, Flaherty says he may cut the maximum term of mortgages insured by the government, or increase the size of the down payment required for such mortgages.

Some media analysts have argued prices have reached unsustainable highs and action is necessary. But not all in the industry want to see such tightening measures.

Joe Santos, president of the Mortgage Brokers Association of BC, says the market will be able to stabilize on its own, despite unexpected gains in 2009.

“In the last few months, prices have rebounded and affordability is less of a motivator,” he says in a released response to Flaherty’s comments. “We feel that we’ve brought forward transactional volume from 2010 into the current business year, and expect stability in prices and volumes in the new year.”

Raising interest rates and reducing amortization will “severely impact” first home buyers in 2010, he says, and potentially cause home values to decrease.