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My Rates

6 Months 7.94%
1 Year 6.94%
2 Years 6.52%
3 Years 5.74%
4 Years 5.54%
5 Years 5.09%
7 Years 6.24%
10 Years 6.29%
6 Months Open 9.75%
1 Year Open 8.00%
*Rates subject to change and OAC
Karen Beckingham  Mortgage Professional

Karen Beckingham

Mortgage Professional


Phone:
Address:
99 Scurfiled Blvd, suite 100, Winnipeg, Manitoba

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What does applying for a mortgage look like?

The process can be a little overwhelming, so I am here to help. First, we will do an introductory meeting on ZOOM. This can take about 30 minutes. We will review what my responsibilities are to you. Unlike the bank, my responsibility is to you. I am your guide in this whole process. Then we can discuss what your goals are. Do you want to buy or refinance? Are we looking at doing some restructuring?

We will discuss your income and how it is structured. Are you salaried, or hourly? Commission? Self Employed?

Next, we will discuss the down payment if you are buying, as well as discussing your credit history.

The next step is, what is your comfort level with this current rate environment? What should we be looking at? Fixed rates, variable rate, short or long term?

We will discuss what documentation may be needed. Paystubs, Employment letters, Income Tax Documents?

Lastly, Gathering of personal information on my secure portal. My portal will allow us to communicate by SMS and email as we go through the full process.

I hope to hear from you soon!

KarenB

 

I'm Equifax certified

I'm certified through the Equifax Credit Professional Program.

BLOG / NEWS Updates

Statistics Canada: Labour Force Survey, April 2024

Employment increased by 90,000 (+0.4%) in April, and the unemployment rate was unchanged at 6.1%. The employment rate held steady at 61.4%, following six consecutive monthly declines. In April, employment rose among core-aged men (25 to 54 years old) (+41,000; +0.6%) and women (+27,000; +0.4%) as well as for male youth aged 15 to 24 (+39,000; +2.8%). There were fewer women aged 55 and older employed (-16,000; -0.8%), while employment was little changed among men aged 55 and older and female youth (aged 15 to 24). Employment gains in April were driven by part-time employment (+50,000; +1.4%). Employment increased in April in professional, scientific and technical services (+26,000; +1.3%), accommodation and food services (+24,000; +2.2%), health care and social assistance (+17,000; +0.6%) and natural resources (+7,700; +2.3%), while it fell in utilities (-5,000; -3.1%). Employment increased in Ontario (+25,000; +0.3%), British Columbia (+23,000; +0.8%), Quebec (+19,000 +0.4%) and New Brunswick (+7,800; +2.0%) in April. It was little changed in the other provinces. Total hours worked rose 0.8% in April and were up 1.2% compared with 12 months earlier. Average hourly wages among employees increased 4.7% (+$1.57 to $34.95) on a year-over-year basis in April, following growth of 5.1% in March (not seasonally adjusted). In the spotlight: Over one in four workers (28.4%) have to come into work or connect to a work device at short notice at least several times a month. https://www150.statcan.gc.ca/n1/daily-quotidien/240510/dq240510a-eng.htm

Bank of Canada: Households are adjusting to the rise in debt-servicing costs

Following sharp declines during the COVID‑19 pandemic, many indicators of financial stress have now returned to more normal levels. Signs of stress are concentrated primarily among households without a mortgage and survey data suggest that, of these households, renters are most affected. In contrast, indicators of stress among mortgage holders are largely unchanged, remaining at levels lower than their historical averages. Factors such as income growth, accumulated savings and reduced discretionary spending are supporting households ability to deal with higher debt payments. Over the coming years, more mortgage holders will be renewing at higher interest rates. Based on market expectations for interest rates, payment increases will generally be larger for these mortgage holders than for borrowers who renewed over the past two years. Higher debt-servicing costs reduce financial flexibility for households and businesses and make them more vulnerable in the event of an economic downturn. Signs of financial stress have risen primarily among households without a mortgage The combination of higher inflation and higher interest rates continues to put pressure on household finances. Many indicators of financial stress, which had declined during the pandemic, are now close to pre-pandemic levels. Signs of increased financial stress appear mainly concentrated among renters. The rates of arrears on credit cards and auto loans for households without a mortgagewhich includes renters and outright homeownersare back to pre-pandemic levels and continue to grow. In contrast, arrears on these products for households with a mortgage have remained low and stable. https://www.bankofcanada.ca/2024/05/financial-stability-report-2024/

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