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Michael Curry
Works at VERICO The Mortgage Wellness Group Ltd
Lives in Barrie, On, Canada
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Michael Curry

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ELECTRONIC SIGNATURES LEGAL IN REAL ESTATE DEALS AS OF JULY 1, 2015
Changes in Ontario real property law makes it legal to electronically sign agreements of purchase and sale, as well as deeds and mortgages creating or transferring ownership in land
https://barriemortgagebroker.ca/electronic-signatures-legal-in-real-estate-deals-as-of-july-1-2015/
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Michael Curry

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LOW MORTGAGE RATES CONTINUE AS CMHC PREDICTS MODERATION IN HOUSING MARKET ACTIVITY FOR CANADA IN 2015 AND 2016
https://barriemortgagebroker.ca/low-mortgage-rates-continue-as-cmhc-predicts-moderation-in-housing-market-activity-for-canada-in-2015-and-2016/
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Barrie Mortgage Broker News - CMHC rate hike effective May 1st 2014
http://barriemortgagebroker.ca/cmhc-rate-hike/
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TransUnion's first annual forecast for Canadian consumer credit calls for a significant increase in debt while delinquency levels decline in 2014.
http://barriemortgagebroker.ca/transunion-canadian-debt-levels-rise-2014-delinquency-levels-drop/
TransUnion's first annual forecast for Canadian consumer credit calls for a significant increase in debt while delinquency levels decline in 2014.
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Michael Curry

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MORTGAGE INTEREST RATES HIKES LOOMING
https://barriemortgagebroker.ca/mortgage-interest-rates-hikes-looming/

Residential home purchases are on the rise in the US and are set to be the best in eight years - since 2007. Buyers are surging back into the housing market, and the vast majority are first time purchasers. This influx of home buyers is driving prices up and up, due to strong employment and very low mortgage interest rates.

The busy housing market is a sign that the U.S. economy is firmly on the road to recovery and definite improvement. Buyers are more positive about their own financial futures and appear ready to close sales quickly. Many fear being possibly priced out of the market by potential mortgage rate hikes and steadily increasing home prices.

According to Nela Richardson (Chief Economist at Redfin),  "demand is off the charts in 2015, and that is really boosting sales. Last year, buyers were dipping their toes in their water. Now, they’re diving in.”

The National Association of Realtors stated on Monday that sales of existing homes climbed 5.1% last month to a seasonally adjusted annual rate of 5.35 million. May was the third straight month of the sales increasing, and has surpassed 5 million homes.

Listings have not been able to keep up with the increase in demand, leading to the higher than normal price increases. Average home selling prices have risen 7.9 per cent in the last 12 months to $228,700, (US) coming in just below the July 2006 peak before the crash.

Roughly 32% of the homes purchased last month were by first timer buyers. This is up from 27% just one year ago. The increase is significant but is still behind the traditional average of first time buyers making uo 40% of the residential buyers. The larger percentage of non-first-time buyers could be due to the large amount of displaced homeowners re-entering the market after being forced to rent.

The increase in home sales can easily be linked to employment numbers. 3.1 million additional workers have been hired in the past year, and the unemployment rate has dropped to 5.5% from 6.3%. This has led more Americans to start feeling financially comfortable immediately following the most severe housing related downturn in eighty years.

According to Richardson,“that’s the big psychological shift between this year and last year.” 

Mortgage rates are reasonably modest, however, may be set to rise as the Federal Reserve considers an interest rate increase - the first time in nearly a ten years. Thirty year fixed rates were up to 4% last week, according to mortgage provider Freddie Mac - that is an increase from a year long low of 3.59%.

"This has plenty of buyers appearing willing to complete their purchase before rates and prices increase any further," according to Jonathan Smoke, chief economist at Realtor.com. A recent Coldwell Banker survey discovered that 28% of homes are selling within as little as two weeks, in comparison to 19% before the recession. Numerous economists warn that the sales increases in recent months may be only temporary if prices increasees continue and price buyers out of the market.

Whatever happens south of the border will most likely have an effect on Canadian interest rates also. The extremely low mortgage interest rates we are enjoying in Canada currently are about as low as they can go. Combined with a declining Canadian dollar, a move by the Federal Reserve may be all it takes to bump our rates also.
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Bank of Canada lowers overnight lending rate but the banks arent so keen to follow.
https://barriemortgagebroker.ca/bank-of-canada-lowers-overnight-prime/
The Bank of Canada’s surprise decision to lower the overnight lending rate by 25 basis points, is furthering household concerns that the economy is in for
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Bank of Montreal announces lowering their five year fixed mortgage rates.
The leading news reports from the mortgage industry last week came from one of the major Canadian banks. The Bank of Montreal announced it was reducing their five-year fixed mortgage rates to below the controversial 3% rate - 2.99% five year fixed. BMO will lower the five-year rate from 3.49% to 2.99%.
https://barriemortgagebroker.ca/mortgage-rates-dropping/
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Strengthening Ontario's Mortgage Industry
Five-year Review Recommends New Measures to Protect Consumers
http://barriemortgagebroker.ca/strengthening-ontarios-mortgage-industry/
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The Mortgage Group partners with Breakfast Club of Canada 
http://barriemortgagebroker.ca/mortgage-group-partners-breakfast-club-canada/
The Mortgage Group Canada Inc. (TMG) is excited to announce it has chosen Breakfast Club of Canada as the charity it will support on a national level. TMG is dedicated to giving back to the community, and was especially moved by the Club's commitment to ensuring all Canadian children receive two essential elements for growth and learning: a nutritious breakfast and an environment that fosters self-esteem.

Over 700 TMG representatives from coast to coast will be invited to support the Club. "We hope to reach a total of $50,000*, and we have already made a giant step towards this goal, with a total of $25,000*raised so far," said Mark Kerzner, President of TMG The Mortgage Group.

"At the Club, we believe that if given the right tools, every child has the potential to become a leader in his community," said Daniel Germain, President Founder of Breakfast Club of Canada. "We are proud to work with committed partners like TMG, who share our dream of ensuring every Canadian student start their school day with an equal chance to succeed," Germain added.

TMG The Mortgage Group is an award-winning Canadian mortgage company with a national team of over 700 qualified and accredited mortgage brokers and mortgage professionals providing residential and commercial mortgage services. Since 1990, TMG has helped a quarter million Canadians get the best financing solutions through Canadian mortgage lenders from coast to coast.

Founded in 1994 in Quebec, Breakfast Club of Canada began to fund and support school breakfast programs in the rest of Canada in 2005. Our mission is to offer daily a healthy breakfast in a nourishing environment to all students. The Club is a stakeholder dedicated to laying a foundation for students to thrive both at school and in life. Last year, the Club served nearly 21 million breakfasts, in 1,266 programs across the country, reaching more than 130,000 students. Visit www.breakfastclubcanada.org
The Mortgage Group Canada Inc. (TMG) is excited to announce it has chosen Breakfast Club of Canada as the charity it will support on a national level.
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In his circles
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156 people
martine preloux's profile photo
Dale Grant's profile photo
Jake Dotson's profile photo
Alex Gaber's profile photo
Simon Greenhalgh's profile photo
Lorrie Morgan-Ferrero's profile photo
Mondher Belkahia's profile photo
Stern Companies's profile photo
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Mortgage Agent at VERICO The Mortgage Wellness Group Ltd
Employment
  • VERICO The Mortgage Wellness Group Ltd
    Mortgage Agent, 2014 - present
  • Apex Financial
    Mortgage Agent, 2011 - 2014
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The "other" Michael Curry
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Barrie, On, Canada
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New Homes and Additions | Simcoe Carpentry 705-716-7543Simcoe Carpentry ...
simcoecarpentry.ca

At Simcoe Carpentry we offer a wide range of carpentry and building services from window or door replacement to a complete house framed - We

MortgageDirect2u
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Residential and Commercial Mortgage Broker

The service in this restaurant was awful. Our waiter/waitress was switched which probably resulted in our order getting lost. We waited an hour and a half for our meal to be served and were lied to by the staff - "oh it will be out in a minute or two", mid-afternoon. We complained but there seemed to be no manager around, and the staff really didn't seem to care. Not impressed at all.
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reviewed a year ago
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