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Brent Richardson
Principal Mortgage Broker/ Owner, Certified Financial Planner (CFP®)
- Considered a Canadian mortgage thought leader: Get personalized pre-approval information and quotes for exclusive low mortgage rates – no fees, no hard credit check, no obligation. All application types are welcome.
- Over 16 years of industry experience with 1800+ mortgages personally approved: Get a fast 1 day approval, increase your approval limit, or lower your payment and rate. Get more options and better approval results.
- Certified Financial Planner (CFP®) credential: Complimentary advice to save on taxes, optimize wealth creation, become mortgage free and retire sooner.
- We’re determined to lower your rate and help make your approval a breeze: Clients save $1,000+ per year on average, or $25,000+ on average over the life of a mortgage.
Level Up Your Mortgage Game With a Certified Financial Planner (CFP®)
Home ownership and the mortgage may be the biggest part of your financial picture, and can play a major role in helping you reach your financial goals. Get advice to reduce interest costs, save on taxes and build wealth faster. Keeping your mortgage approval in focus, we can discuss the following at your option:
Wealth Accumulation
Optimizing wealth building strategies, even slightly, can have a major compounding effect over time. Conversations can include how to use your home equity more effectively, and how to build wealth more efficiently while becoming mortgage free sooner.
Estate Planning
The are few certain things in life, except for death and taxes. The government already has an estate plan for you, but you probably won't like it... Speak for your assets, save on taxes, and probate fees. Conversations may include purchasing a property tenancy in common vs joint tenancy, what to add or remove from a will or power of attorney, if a trust makes sense and more.
Protection Planning
Setbacks in life are inevitable. We hope the setbacks won’t be too big. But no matter what happens a good plan will have you covered.
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Pre COVID inflation was generally 2% or lower and Canada had:
~ 2% GDP growth
- 2% BoC overnight rate
~ 3.1% variable and 3.5% fixed mortgage rates
If inflation holds in this range, and it should for a while, we should see mortgage rates trend pretty close to this
BREAKING: 🇨🇦 headline inflation reaches its 2% target in August, it's lowest level since 2021
The price cap on homes that are eligible for CMHC insurance is increasing by $500k to $1.5m
Maybe most important, those who already own a home valued over $1m are now eligible for 'insurable' renewals or insurable porting, which usually have lower rates - sometimes much lower
At a conference this morning, Tiff Macklem said with de globalization/on-shoring, the cost of goods might not decline to previous levels and this could add inflation pressure
"Trade disruptions may also increase the variability of inflation"
Global trade disruptions could make it harder for the Bank of Canada to consistently meet its 2% inflation target, and it will have to balance the...
ca.finance.yahoo.com
The last 3 BoC rate cuts were just the tip of the iceberg, according to financial markets that are pricing in another 1.75 - 2% of cuts over the coming 12 months
Meanwhile fixed mortgage rates have room to drop another 0.10 - 0.25 over the 2-3 weeks nearing 4%
With inflation dropping, interest rates are allowed to fall
For the time being, it does not look like inflation will increase
But if rates drop another 1%+ this could move the inflation needle medium term
Here are 3 inflationary forces that didnt exist 10 years ago /2
🇨🇦 August unemployment jumps to 6.6% exceeding expectations - its highest level since May 2017 outside of the pandemic
Although the economy added 22,000 jobs, most were part time and the surging population far surpassed the increase in jobs available
Bond yields are pricing in/ 'counting on' over 1% of Bank of Canada rate cuts in the next 12 months
If this doesn't happen, bond yields could rise and take fixed mortgage rates with them
In the US, the pricing of cuts is just as pronounced...
The average rate for a 30-year fixed mortgage was flat at 6.35% for the week ending September 5, according to data from Freddie Mac. Redfin CEO Glenn...
ca.finance.yahoo.comServing the Best Mortgage Rates in Ontario
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