Lawyers, A Client’s Experience

Lawyers, A Client’s Experience

Lawyers Amiright? (insert tired lawyer joke here) After the recent experience of one of my clients purchasing their first home,  I was inspired to write this note on finding good lawyers to handle the legal end of financing.  Without getting into too many details, this particular lawyer originally quoted these folks a price $1200 to complete their purchase – pretty standard. By the time the lawyer asked for the bank draft, which is meant to cover the down payment and closing costs, my clients discovered that the legal fees had ballooned to over $2500. Shocked, they asked me to review the statement of adjustments and trust ledger their lawyer had provided and yeah, it was shocking. This...

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Variable Rate Update: July 2019

Variable Rate Update: July 2019

There is a general consensus among CDN economists is that we can expect a 0.25% rate drop in the next year, which would bring Prime from 3.95% to 3.70%. The US Federal Reserve (the equivalent to our Bank of Canada) has hinted at 2 x 0.25% rate drops in the coming...
Bank of Canada Update – July 2018

Bank of Canada Update – July 2018

You may have seen that the Bank of Canada raised interest rates this week from 1.25% to 1.50%.  Bank Prime is now 3.70% and lenders will be implementing the change in the coming weeks. Please read this summary of what the bank economists are predicting will happen...