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Valko Financial Ltd.

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What will happen next with Canada house prices?

Original Source:  Mortgage Broker News With the rate of homebuying in Canada cooling in recent weeks and house prices having declined nationally for two consecutive months, there’s been much conversation around the questions of whether bidding wars will die down and prices will continue moderating. While some believe that the federal government’s action on the mortgage stress test rate has had its desired effect – easing the trend of frenetic bidding far above list price – others in the mortgage industry have seen little evidence of that change in their markets. Tracy Valko (pictured), principal mortgage broker and owner of the Kitchener, ON-based Valko Financial, told Mortgage Broker News that the pace of bidding remained relentless in that region, continuing to expose what she said was a significant supply issue in the housing market. “What the government was looking to do in slowing down the market, and in trying to …
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First annual Valko Awards Night a great success

On June 17, Valko Financial hosted our first annual Valko Awards Night! The virtual event was a night of celebration that honoured several exceptional workers within the brokerage. To our eleven Valko Award winners, congratulations on your success! Your drive to go above and beyond for the brokerage is greatly appreciated. We cannot wait to see where you go from here! To our sponsors and business partners, thank you for your continued support of Valko Financial. It is a pleasure to work alongside each and every one of you. We appreciate your contributions to the event by selecting nine well-deserving recipients of the Lender’s Choice Awards! A special thank you to our guest speaker, Kevin Rempel, who presented “The Hero Mindset.” Kevin Rempel is a 2013 World Champion and 2014 Sochi Paralympic bronze medalist in sledge hockey who has an incredible story of overcoming a tremendous amount of adversity. Paralyzed after a motocross …
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Weak April Jobs Report Reflects Canadian Lockdown

Original Source:  Dr. Sherry Cooper, DLC   Canada’s Jobs Recovery Impaired by Third-Wave Virus Restrictions   This morning, Statistics Canada released the April 2021 Labour Force Survey showing a major deterioration in the jobs market following the third-wave Covid containment measures. Employment fell by 207,100 (-1.1%) in April, and the unemployment rate rose 0.6 percentage points to 8.1%.Employment declined in both full-time (-129,000; -0.8%) and part-time (-78,000; -2.3%) work. The number of employed people working less than half their usual hours increased by 288,000 (+27.2%). The number of Canadians working from home grew by 100,000 to 5.1 million. Total hours worked fell 2.7% in April, driven by declines in educational services, accommodation and food services, and retail trade. The labour underutilization rate, which captures the full range of available people who want to work, rose 2.3 percentage points to 17.0% in April. The number of Canadians unemployed for 27 weeks or more–the long-term unemployed–increased to 486,000. This group might well be the most scarred by the pandemic in terms of their job prospects and …
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Valko Financial Ltd. Goes National with Heart-Centred Leadership

We are incredibly honoured by all the love and support we’ve been receiving from our amazing industry (and beyond!).  See the latest issue of Mortgage Broker News for a taste of what we’ve got cooking! *special thanks to Rachel Major for the artwork – we love it!   Original Source:  Mortgage Broker News After more than a decade of accomplishments and growth as a top-producing mortgage broker in Kitchener (Ontario), Tracy Valko founded Valko Financial Ltd. in 2018 to share her passion and principles for excellence in service with a team of like-minded, community focused professionals. Valko Financial Ltd. started small, but always had mighty potential and results because of the individuals who believed in serving the clients and community with honesty, integrity, commitment, and professionalism. Great minds think alike, and heart-centred people gravitate to each other, so it’s no big surprise that even with three provinces between them (about …
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Support Local This Easter Weekend

While people may be celebrating Easter a bit differently this year, there are still ways that you can support local businesses in a safe manner. Here are some great local bakeries in Kitchener-Waterloo to order some Easter-themed treats! Winnie’s Gluten-Free (519) 590-2769 winniesglutenfree.com Located in Belmont village, Winnie’s GLuten-Free is the perfect choice for delicious, gluten-free desserts. Head over to their website or give them a call to place your order! Debrodniks Donuts debrodniks.ca This local favourite is offering a special Easter menu until April 4th. Check it out on their website while supplies last! Norris Bakery (519) 742-0564 norrisbakery.com Norris Bakery was established in 1943 by Albert Norris.  The Bakery was owned and operated by the Norris family till 2000 at which time the Bakery was sold to the lead baker who has operated the Bakery since 2000. Norris Bakery strives to provide our customers with homemade quality baked goods, made …
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5 Tips for Selling Your Home This Spring

The Spring housing market is here! The start of the new season brings sunshine, flowers, and an overly competitive market for home buyers and sellers. If you’re looking to put your home up for sale, you’ll want to have all of your bases covered to capture the attention of buyers and secure the best possible offer. Here are 5 simple tips to sell your home this spring! Do a thorough cleaning of your home A clean house will always give off a better impression to people touring your home. Dust off all surfaces, lamps, and furniture to give your home that extra sparkle. Next, remove any clutter throughout your home. This could include cleaning off the kitchen counters or tidying up the kids’ toys. If you don’t have the space to put something away, it never hurts to donate it to a non-profit organization. Check for winter damage The snow …
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Tracy Valko Nominated as RBC Woman of Influence

We are thrilled to announce Tracy Valko has been nominated as an RBC Canadian Woman of Influence! RBC Canadian Women Entrepreneur Awards is the premier national awards program for celebrating the acheivements of the most successful in this inspiring group.  For 29 years, the awards have shone a spotlight on Canada’s most accomplished and impactful women who have demonstrated excellence – from economic growth to social change, from global reach, across multiple sectors. For more information about the awards or to nominate someone please visit RBC Women of Influence. Learn More    

Support Local on St Patrick’s Day

While people may be celebrating St. Patrick’s Day a bit differently this year, there are still ways that you can support local businesses in a safe manner. Here are some great local restaurants to order from for today’s festivities! McCabe’s Irish Pub and Grill Kitchener (519) 743-3400 mccabeskitchener.com Waterloo (226) 647-5321 mccabeswaterloo.com “Irish pubs in downtown Kitchener and Uptown Waterloo where you can enjoy some traditional Irish grub and yummy pub fair. McCabe’s is the perfect mix between Irish tradition and local flair with a friendly atmosphere and always a warm bar stool. During the day it’s more laid-back, ideal for grabbing lunch and caffeine fixes.” Malt and Barley Public House (519) 745-6460 maltandbarley.ca “There’s no better way to celebrate Paddy’s Day than with a 3-course meal from your local pub! Order a 3-course Irish feature that includes mulligatawny soup, lamb stew, Irish car bomb puddin’ & more! Plus, there …
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March Home Checklist

The start of a new month always comes with a list of to-dos. As Spring is right around the corner, there are a few things you might want to check up on around the house. To prepare your property for the new season, check out our March Home checklist! Check your walkways, driveway, and roof for winter damage Once winter has passed and the snow has melted, check key areas around the exterior of your house for winter damage. It is important to do routine maintenance checkups like this to avoid long-term damage and more expensive repairs down the road. Get ready for tax time The tax-filing deadline in Canada isn’t until April 30, but getting everything organized this month will make things a lot less stressful. Go through your paperwork, update your files, and gather all of your important documents in one place. Spring clean your mirrors and surfaces …
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Market Interest Rates are Rising Almost Everywhere

Longer-Term Yields are Rising Despite Central Bank Inaction While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year Government of Canada bond, upon which mortgage rates are generally tethered, are currently at 0.69%, up 27 basis points since January 29th. This is the highest 5-year yield since late-March 2020.  Canadian bond yields have increased more than in the US, perhaps due to the surge in commodity prices, most notably oil, which has climbed 16.9% in just the past month, taking the year-to-date gain to 27%.Growing government debt arising from fiscal measures to cushion the blow of the pandemic and stimulate the economy has set the stage for higher government bond yields in much of the developed world. Inflation concerns are mounting. In a rare move, yesterday Statistics Canada revised …
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