https://torontosun.com/news/real-estate-activity-remains-muted-in-face-of-steep-rate-hikes “Right now were bracing for a hike,” said Leah Zlatkin, LowestRates.ca expert and licensed mortgage broker. “For those people who are impacted, it is a dramatic increase. But, hopefully, people have budgeted accordingly.” It is unclear exactly how many Canadians hold variable mortgage rates, which rise as the central bank hikes. But in February, […]

https://www.thestar.com/business/2022/09/06/bank-of-canada-to-hike-interest-rates-by-three-quarters-of-a-percentage-point-experts-predict.html While a smaller, 50-point rise isn’t out of the question because of evidence the Canadian economy shrank slightly in July, a 75-point rise has grown more likely because of hawkish sentiments from the U.S. Federal Reserve, argued Leah Zlatkin of lowestrates.ca, a website that provides quotes for insurance, mortgages, credit cards and loans. Simply […]

https://financialpost.com/real-estate/mortgage-demand-slows-refinancings-dry-up Leah Zlatkin, LowestRates.ca expert and licensed mortgage broker, said she is seeing a shake-up in the types of clients she sees. Clients seeking new mortgage originations have tended to be less conventional and require more flexibility. One example: the number of mortgage-seekers in the gig economy who are moving towards private financing. “I think […]

https://ca.finance.yahoo.com/news/vancouver-home-sales-tumble-calgarys-173852229.html While many in the real estate industry have blamed rising interest rates for the drop in demand, Leah Zlatkin, LowestRates.ca expert and licensed mortgage broker, said the pause in home buying has more to do with the risk of a recession and overall uncertainty. “You have to be cautious in assuming that a Bank […]

Inflation, high rates putting big purchases on hold? How to budget for must-buys Despite rising interest rates pushing monthly mortgage payments higher, the resulting cooldown in the housing market might actually make it a good time for some buyers to get into a home, according to Leah Zlatkin, a mortgage broker and expert with LowestRates.ca. […]

https://www.ctvnews.ca/business/missed-a-mortgage-payment-here-are-next-steps-you-should-take-1.5997077 Missed mortgage payments, otherwise known as mortgage delinquency, isn’t common in Canada, according to data compiled by the Canada Mortgage and Housing Corporation (CMHC). In the first quarter of 2022, the country’s mortgage delinquency rate was 0.18 per cent, down from 0.38 per cent in 2012. Still, for those who may be likely to […]

https://torontosun.com/news/would-be-homebuyers-should-confirm-mortgage-pre-approvals-says-broke “If you were qualified several weeks ago, you need to be very conscious of this, and you need to make sure you get pre-approved again,” said mortgage broker Leah Zlatkin, ofLowestRates.ca. “You likely have to re-qualify for a property that you would have been pre-approved for a mortgage on.” With rates pushed up by […]

https://www.bnnbloomberg.ca/how-the-bank-of-canada-s-rate-hike-will-impact-mortgages-loans-and-spending-1.1791540 Leah Zlatkin, a licensed mortgage broker with Lowestrates.ca, said in a release that every $100,000 someone holds in a variable rate mortgage will result in about $55 more in costs per month. Based on the Canadian Real Estate Association’s average home price of $711,000 in May, a variable rate of 2.7 per cent will […]

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-a-sinking-real-estate-market-requires-fast-appraisals/ “Get the appraisal done the day after you buy a home,” says Shawn Stillman, Mortgage Broker and co-founder of Mortgage Outlet. Ordering an appraisal as soon as possible eliminates the mortgage risk of prices deprecating before closing. By the way, this is also imperative if you’re refinancing and want the maximum 80 per cent […]

1 in 4 homeowners say rising mortgage rates could push them to sell: survey Leah Zlatkin, a mortgage broker and expert at lowestrates.ca, says even in the lean years, most household budgets should be able to accommodate even large jumps in the Bank of Canada’s interest rates. She cites the mortgage stress test and the […]