Ariana Leroux Mortgage Blog

  The federal government has released its 2025 budget, and while the focus is largely on long-term housing supply, there are several key items that matter for buyers, homeowners, and investors in the Edmonton-area markets — including Spruce Grove, Stony Plain, St. Albert, Leduc, Beaumont, and Sherwood Park . Below is a clear, Alberta-specific breakdown of what changed, what didn’t, and how this affects mortgage decisions over the coming year. 1. The Rate Environment: What It Means in Alberta The Bank of Canada recently reduced its policy rate to 2.25% , bringing mortgage prime down to 4.45% . This matters for our markets because: Variable-rate mortgages are becoming competitive again. Payment shock for renewals may ease slightly. But—and this is key— we do not expect dramatic further rate drops due to ongoing inflation pressures. Bottom line: Alberta borrowers now have more flexibility. Variable may start to make sense again, but choosing between fixed and variable...

I will dive right in. The rate market is a tricky thing currently for most regular people to understand. They see rates posted online that seem amazing, do their applications and then find out the rate changed somewhere in the process and not for the better. Response, anger - usually at the broker or banker they were dealing. So let me try to break this down a little so that it may begin to make more sense. Since the newest Government changes we have the Stress Test, this one everyone know, except not everyone knows what it means. In a nut shell, any insured mortgage needs to qualify at the Bank of Canada Rate (5.34% as of April 23, 2019) regardless of the actual paid rate on the mortgage. Now here is some information most people do not know, so buckle up as this road gets a bit bumpier. Rates change based insured, insurable or uninsured and then again for insurable your loan to value comes into play for the rate as well. Insured means, CMHC or GE insurance premiums are include...

  Hearing about Indra Nooyi stepping down from Pepsi as CEO, has gotten me thinking about woman in industry, more specifically woman in top management and Ceo positions industry.  Woman in top positions have become a hot topic as of late, and one I am happy is happening. Woman empowering other woman is not only a good thing on a personal level but also a business one as well. When I look at different companies online; more specifically their management staff and CEOS, I am not surprised when I see this as a more male dominated area (again yes, depending on the industry). Do not get me wrong, the "right person for the job" needs to happen, regardless of sex. However that said, I do see at the top in a lot of companies, that it tends to stick with the traditional "boys club". I have received questions from employers that I am sure they do not ask any male employee, such as "how well are you going to handle the work load with the kids?...

So I came across an article in the Globe and Mail the other day titled, " Mortgage seekers wonder: Broker or Bank? " And I gotta say, as a mortgage broker whom has come from the banking industry it has left me with a few unanswered questions. But lets see if we can break this article down a bit shall we? " Among the many tough decisions first-time home buyers face is whether to use a mortgage broker or rely on a bank to secure a mortgage. " Is how the article starts, so lets start playing with this puzzle shall we. This statement, '... or rely on a bank to secure a mortgage... ", did the author of this piece not understand that mortgage brokers can use banks to secure mortgages for their clients? Several in fact. Myself here in Alberta, I can use TD Canada Trust, Scotiabank, Canadian Western Bank to name a few.    Another puzzle piece is in paragraph 3, "... The latest, passed last fall, requires those who are applying for an insured mortgage...

Splitting up, Separating and Divorce ..... now what happens? This can be a hard, confusing and emotional time for most people. Questions in your head spinning outta control, with the "what if's" piling up and weighing you down..... How does one partner keep the home? Can you keep it? How does one partner get paid out from the home? What can we do with all this joint debt? Can we pay out debt? If I am getting alimony can I use that as income? Does child support count? What if I do not have a job?  What if I am paying alimony and or child support, how does that affect how I can get a home? .... the questions can just keep on spinning and piling up! Now more than ever you need some experts in your corner and a licensed mortgage broker would be the best solution for your mortgage questions. And breath easy there are solutions, but we need to make sure all the right things are in place first. When I am talking to one or both of the parties involved in a divorce or separat...

So the sun still came out today, Oct 17 th , 2016 even with the new Mortgage Rules coming into affect. What shocked me more today is the amount of Albertans that did not know it was coming… it is all I have seen in my news feed. But that is probably more due to the fact that I am in the industry than anything else. In that same breath, I have been posting about it since the announcement on Oct 3ed, 2016.   We have all been to caught up in the US Election & the information for the new Carbon pricing,  is my first thought, and totally understandable. Lets do a bit of a recap for what came into affect today; the 5 year Bank of Canada Rate is now going to be used to qualify all high ratio insured mortgages. In simple terms; your mortgage currently will have to qualify at 4.64%, even thought your actual payments will be based on an interest rate much less than that. Our Government is calling it a " Stress Test " for all high ratio mortgages. I under...