Rate Update – May 2020

Rate Update – May 2020

With all of the economic upheaval in the last 2 months, we have seen the Bank of Canada drop their overnight rate down to 0.25%. It is projected to stay there for the foreseeable future. Any hope of an economic recovery is tied to a potential vaccine and until we have one, we can expect the recovery to be slow. A slow recovery means a long recessionary period or best case low GDP growth. You can expect the Bank of Canada to leave its rate where it is until 2022.   Meanwhile, the fixed-rate market has started to fall back down to earth.  We are seeing rates in the mid-2% range, so some people will be tempted to ditch their variable rate mortgage in favour of a long-term fixed rate.  It’s...

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Suzanne is Officially Retiring

Suzanne is Officially Retiring

After nearly thirty years at the helm of The Personal Mortgage Group, Suzanne is “retiring”. I put the term retiring in quotes because, as any of you who have worked with Suzanne would know, she’s not the type to slow down. Suzanne is kicking off her “retirement” by...
National Mortgage Conference, 2019

National Mortgage Conference, 2019

PMG attends the National Mortgage Conference in Toronto, Nov 17-18. Joining over 1,200 delegates over two days at the Metro Toronto Convention Centre, we took in plenty of info and had the opportunity to connect with many other likeminded mortgage professionals. This...

Keeping ahead of COVID-19

In the interest of helping to slow the spread of Covid 19 the PMG has decided to close the office to the public beginning Monday March 16th. We are still fully operational but will not be seeing clients in person. Thank you for your understanding and please take care of yourselves.