Over the years the Kelowna Mortgage Lending Outlet has been able to help other Mortgage Brokers get deals done that have seemed impossible. It wasn’t that the deals were bad it was just a lack of knowledge or resources on the Mortgage Brokers end. If you are a new broker or you have hit a dead end trying to secure financing please call Tracy Charlton 250-862-1073, she has the knowledge and the resources to get deals done. Tracy will happily co-broker your deal and most importantly give your client the best chance at being financed. Residential & Commercial.
Archives for 2013
May 22, 2013 By
Are you Paying Too Much – Kelowna Mortgage Evaluation
Good morning Kelowna Mortgage Holders.
We hope you are enjoying the start of Spring. Many of us are just now doing a spring clean up of our homes, getting rid of junk we never use, turning the sprinklers on re-adjusting the sprinkler heads, hosing off the driveway, cleaning the gutters etc … we are giving our home a once over making sure everything is working right.
Another thing we should be do doing each year is re-evaluating our mortgages and our debt structure. Rates change and so do the options that go along with rate changes. A very well known mortgage broker in the Vancouver area has been re-assessing his clients mortgages annually for years, in fact Oprah Winfrey herself has endorsed this mortgage strategy on a television show called Million Dollar Neighbourhood.
The Lending Outlet Kelowna Mortgage would like to invite you to take part in a Kelowna Mortgage Re-Evauation project free of charge. We can visit your home or you can come into our office to discuss your current mortgage structure and see if you have any room to improve and to save money. Our brokers have been doing this for a long time and have amazing relationships with over 100 lenders. Sometimes we are even able to blend current credit card balances into a new mortgage giving you improved cash flow each month. The possibilites are endless. It is on these types of Mortgage re-evaluations that Kelowna Mortgage Brokers shine.
Just complete the contact form to the right of this post and we will get back to you within 2 hours. You have nothing to lose.
May 7, 2013 By
Target Kelowna – Opening Soon
Get ready Kelowna Mortgage holders, Target Kelowna is opening soon.
Several eager shoppers were on hand as Target opened its doors in Vernon Tuesday morning.
The opening is one of 22 in Western Canada – today.
The soft openings include stores in British Columbia, Alberta and Manitoba and follow the opening of 24 stores across Ontario. As previously announced, Target plans to open 124 stores across Canada throughout 2013.
“Target is thrilled to be opening stores in Western Canada, providing a one-stop shopping destination that meets the wants and needs of our guests,” said Tony Fisher, president, Target Canada. “It was exciting to see the response to our Ontario store openings, which have produced valuable insights that along with our soft openings in Western Canada will help us to continue to deliver on Target’s Expect More. Pay Less. brand promise for guests across Canada.”
Locations opening to the public on May 7 include:
British Columbia (9)
Campbell River – Discovery Harbour Shopping Centre
Coquitlam – Coquitlam Centre
Cranbrook – Tamarack Mall
Delta – Scottsdale Mall
Kamloops- Sahali Centre Mall
Langley – Willowbrook Shopping Centre
Nanaimo – Nanaimo North Town Centre
Vernon – Village Green Mall
Victoria – Tillicum Centre
Alberta (10)
Calgary – Chinook Centre
Calgary – Forest Lawn Shopping Centre
Calgary – Market Mall
Edmonton – Bonnie Doon Shopping Centre
Edmonton – Mill Woods Town Centre
Edmonton – West Edmonton Mall
Grande Prairie – Prairie Mall
Red Deer – Bower Place
Sherwood Park – Sherwood Park Mall
St. Albert – St. Albert Centre
Manitoba (3)
Brandon – Shoppers Mall
Winnipeg – Kildonan Place Shopping Centre
Winnipeg – Southdale Centre
Locations opening to the public on May 14 include:
Prince George – Pine Centre
Calgary – Shoppes at Shawnessy
Stores will be open from 8 a.m. to 10 p.m. Monday to Saturday and 8 a.m. to 9 p.m. on Sunday. Guests will be welcomed into bright, clean stores with wide aisles, great guest service and a trend-right merchandise assortment. The majority of the 24 locations will feature a licensed Starbucks, as well as an in-store pharmacy designed to provide guests with superior patient-centered healthcare.
Target Kelowna is expected to be open this summer.
Source: Castanet.net
March 4, 2013 By
Flaherty – Mortgage Doublespeak and Linguistic Illusion
Low Canadian Mortgage Rates
In a masterful bit of mortgage doublespeak and linguistic illusion the Minister of Finance stepped back into
The mortgage marketplace, warning about lenders engaging in prudent lending and not engaging in a race to the bottom.
This is an incredibly ironic stance for him to take since it was him and the Conservative government that encouraged the unprecedented loosening of credit underwriting guidelines 5 years ago.
Great Kelowna Mortgage Rates
Anyway, he once again misses the point entirely. He is obsessed with consumer credit quality and seems unconcerned that the rates are this low because the Bank of Canada and the US Fed are printing money at a record rate.
As anyone that reads this blog knows that Kelowna Lending & Mortage Co. The Lending Outlet has been offering 5-year money at 2.99 or 2.89 percent for the past couple of months. There is also an incredible 10-year rate at 3.69 percent.
This is good for borrowers, especially first time home buyers in Kelowna but is a sign of how weak demand is for borrowing outside the consumer sector.
Canada is lagging in business investment, junior companies are finding it impossible to raise cash, and the general industrial and commercial borrowing side is dead as a doornail.
For economies like the GTA, Quebec, and Vancouver to thrive the country needs to encourage the growth of export-oriented manufacturers. Instead of ragging in consumers, Mr. Flaherty should focus on repairing our manufacturing industry and thereby creating jobs.
A good job lets you repay a lot of debt Mr. Flaherty.
First Time Home Buyers Kelowna
March 1, 2013 By
Peachland Mortgage Broker
In the summer of 2002, the agile Dominican superstar Alfonso Soriano became the first New York Yankee in history to notch 30 home runs and 30 stolen bases in a single season. Soriano broke another record that year: He was the first Yankee to strike out 157 times in a season. Asked to explain his habitual wild swings, Soriano produced a great line: “You don’t get out of the Dominica by taking pitches.”
There are lots of other lines about investing in stocks and real estate. You can’t time a market.
The truth is they were lucky. If we really understood statistics we would know that in all systems someone has to win at some point.
So what is my point today?
Don’t try to time the real estate market. There are too many variables. In a balanced local economy real estate will match inflation.
In down years it tracks below the inflation rate, but eventually it will catch up and hence a boom.
This also works in the inverse. A year where prices exceed the inflation rate invariably turn to a down market as the price revers to the inflation trend line.
What does this mean for Vancouver and Kelowna respectively? Vancouver has maintained its trend line with inflation over the past few years and maybe exceeded it slightly. The Vancouver Real estate market is probably flat for 2012.
KELOWNA has been below inflation for 3 or 4 years and is probably headed for an upward correction in the next year as inventories decline and building permits stay low.
