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THE PRIME STAYS PUT, WHAT DOES THIS MEAN TO VARIABLE RATE

The Bank of Canada has announced that their lending rate will stay at 1% which means that Prime (the rate that consumers pay) will stay at 3%. The major banks were thinking that Prime was going to increase, every indication showed to them that Prime was going to go up. In turn, the banks started to give a better variable rate discount to consumers.   Let me explain, when the Five Major Banks ...

Centum Financial Group Appoints New CEO

Centum Financial Group Appoints New CEO   VANCOUVER, BC (February 4, 2014) – Centum Financial Group, part of the Charlwood Pacific Group of companies (CPG), is pleased to announce the appointment of Martin Charlwood to the role of Chief Executive Officer. Concurrently, Don Lawby will be retiring from his important role as President and Chief Operating Officer of Centum Financial ...

Housing Bubble?

CTV reported that Minister Flaherty stated he would act again if needed to cool an over heated market.  For most Canadians this could translate in to stiffer rules when applying for home financing.  For most existing home owners changes would only have an impact if they choose to purchase a new home, refinance their existing mortgage, or at renewal time. When the United States had the market ...

Canadians Losing Money on their Mortgages

For most Canadians when shopping for a mortgage the simple solution is to walk through the doors of your local bank or credit union branch.  It seems to be that old saying "better the devil you know" is true.  We believe that the bank, trust company or credit union that we have been dealing with for years is the best place to be. In fact in 2012 a whopping 72% of people did just that ...

Beef with the Bank?

It has been all over the news this past week, Canadians across the country are outraged that our banks would outsource jobs to temporary workers and lay off people to do so.  Not only are people crying foul, but if rumours are true, many are closing their accounts with the big five and moving their business to Credit Unions and other smaller institutions. Some in the media have argued that it ...
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