COVID-19 Archives - Kitchener Mortgages, Waterloo Mortgages, Cambridge Mortgages

Ontario shuts schools until September because of COVID-19 pandemic

May 20, 2020

Overnight summer camps are also cancelled, province confirms CBC News · Posted: May 19, 2020 7:58 AM ET | Last Updated: 8 hours ago Ontario Premier Doug Ford announced Tuesday that the province is cancelling in-person learning for the school year because of the COVID-19 pandemic. “The safety of our children is my top priority,” Ford said. The province said in a news release that the decision was made after consultation with the chief medical officer of health and an assortment of medical experts. “We cannot open schools at this time,” Ford said. “I’m just not going to risk it.” Ford told reporters that learning will continue online. The province said in its news release that all students “who were on track to graduate” from high school before schools were shuttered in March will be able to graduate, and all students will receive report cards. Education Minister Stephen Lecce said a full plan for reopening the …
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Ontario Announces Additional Workplaces that Can Reopen

May 15, 2020

Additional seasonal, retail and household businesses must follow public health guidelines May 14, 2020 1:30 P.M. Office of the Premier Original Source: NEWSROOM ONTARIO TORONTO — Today, the Ontario government announced the retailers, seasonal businesses and health and community service providers who will be permitted to open or expand their services on Tuesday, May 19, 2020 at 12:01 a.m., provided that the general trend on health indicators continues to improve as part of the first stage of the government’s reopening framework. The workplaces opening as part this stage are well-positioned to put workplace safety measures in place and get more people back to work, while not overburdening public transit and other services. The government also announced additional seasonal services and activities will be permitted to open as early as Saturday May 16, 2020 at 12:01 a.m., in time for the Victoria Day long weekend, as key public health indicators continue …
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Over $34,000 raised for local businesses in viral online campaign

May 13, 2020

Original Source: KITCHENER TODAY A local group of businesses have found a way to help other small vendors that have been affected by the COVID-19 pandemic. The Random act of Business (RAoB) is a campaign and online platform where residents can go to purchase gifts from their favourite non-essential businesses across Waterloo Region. According to Kitchener marketing agency Studio Locale, residents are being asked to be ‘more viral than the virus’ (which has an infection rate of over two people) and gift three or more items from these businesses to family, friends, neighbours or employees. Some businesses featurd on the RAoB website include Four All Ice Cream, Four Fathers Brewing, Native Plant Source, Golf Play, and more. A list of all the participating businesses can be found at moreviralthanthevirus.ca. The aim of RAoB is to help get the message out that these places are still open even if they can’t physically open their doors. Since launching the campaign …
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Retail stores can offer curbside pickup, delivery as of Monday

May 7, 2020

Original Source: Kitchener Today The provincial government is opening more of the economy. On Wednesday afternoon, the province announced that non-essential retail stores can open to offer curbside pickup and delivery, as of Monday, May 11. The stores are being asked to follow all the health and safety guidelines, in place due to the COVID-19 pandemic. “We haven’t been sitting on our hands. Whether it’s releasing our framework for reopening or putting in place the workplace safety guidelines needed to help businesses adapt to the new environment, we’ve been laying the groundwork for the safe, measured, and gradual reopening of our province,” said Premier Doug Ford. “As the trends improve, we can move forward with reopening more and more of our economy and getting people back to work.” he added. As early as Friday, garden centres and nurseries will be able to open for in-store payment and purchases, operating under the …
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Canada Emergency Commercial Rent Assistance (CECRA)

April 24, 2020

Federal Government Update Today, the Prime Minister announced that the federal government has reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19. The details that have been announced at this point are below. We will share more details about the CECRA as they become available. The CECRA program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June. The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will …
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Home Sales and Listings Plunge in March as the Bank of Canada Steps Up Economic Support

April 15, 2020

Housing Market Another Victim of the Virus Data released this morning from the Canadian Real Estate Association (CREA) showed national home sales fell 14.3% on a month-over-month (m-o-m) basis in March, the first national indication of the early impact of social isolation. The economic disruption and massive layoffs caused both buyers and sellers to increasingly retreat to the sidelines over the second half of the month.Transactions were down on a m-o-m basis in the vast majority of local markets last month. Among Canada’s largest markets, sales declined in the Greater Toronto Area (GTA) (-20.8%), Montreal (-13.3%), Greater Vancouver (-2.9%), the Fraser Valley (-13.6%), Calgary (-26.3%), Edmonton (-13.2%), Winnipeg (-7.3%), Hamilton-Burlington (-24.9%) and Ottawa (-7.9%). Actual (not seasonally adjusted) sales activity was still running 7.8% above a quiet March in 2019, although that was a considerable slowdown compared to the y-o-y gain of close to 30% recorded in February. “March 2020 …
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Lock-In or Stay Variable?

April 10, 2020

Whether you already have a mortgage or are looking to get your first mortgage amid COVID-19, there are some things you should know regarding fixed and variable rate mortgages during this time. If you currently have a mortgage, you may have heard on the news about interest rates rising and you may be unsure of where you stand. It may seem confusing, but when it comes to mortgage rates and interest we are seeing things moving in both directions – rates are going up and going down simultaneously. Depending on the mortgage you currently have (fixed or variable) you may be experiencing different effects with regard to COVID-19 and may be unsure where you stand. Here are some things to know: Variable Mortgages Variable rate mortgages, which represent 1 in 4 mortgages in Canada, are driven by the Bank of Canada’s overnight lending rate. Having a low variable rate may …
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To Defer or Not

April 10, 2020

To Defer or Not to Defer With Canada’s major Mortgage Finance Companies (MFC’s) and all six big banks offering mortgage deferrals of up to 6 months, as well as case-by-case options from credit unions, one of the major questions currently facing Canadians amid COVID-19 is do you defer your mortgage? To help you with this decision, we have gathered some important information on what it means to defer and the benefits (or side-effects) from doing so. For anyone who is unsure, a mortgage payment deferral means that customers are not required to make regular payments (principal, interest and property tax, if applicable) on their mortgage. In the case of COVID-19, this deferral period can be up to six months. As much as you may be keen on taking advantage of deferring your mortgage, it is essential to remember that this is …
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COVID-19 Updates

April 9, 2020

COVID-19 UPDATES & WHAT HOMEOWNERS NEED TO KNOW At Dominion Lending Centres, we are deeply concerned about the Coronavirus – and we know you are too. Our thoughts and prayers go out to all the families and front line workers that are dealing with this around the world. We recognize that many homeowners may be looking for guidance around mortgage financing. We are committed to updating you – our customers – on the current climate and how the recent COVID-19 developments may impact your mortgage, now or in the future. We know that things may seem uncertain now, but we are working hard to gather all pertinent information and help you to understand your options during this difficult time. Please visit the DLC Information Centre for up-to-date information. Review our COVID-19 Resources under the COVID-19 dropdown.

10 Things you CAN do right now – #COVID19

April 3, 2020

1. It is irresponsible for us to guess at how long the COVID-19 pandemic will be with us. What we do know for certain is that until there is a vaccine developed it is going to be an issue and until there is an anti-viral treatment we will be in self-isolation. This is emotionally and mentally draining for people and it is ok, it is allowed to be. I truly feel it is important in order to ensure that a few things are taken care of while we are still able, in order to assist in reducing the stresses that you will feel: -Consolidate Debts to improve cashflow -Place a Secured Line of Credit on a property when available to help with any emergency situations that might come up -Take out equity if you feel you need some additional money set aside 2. If you have found your income negatively …
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Category: COVID-19