Re: July 2026 Newsletter
Moyez Kamani
Moyez kamani,
CISA, CRISC, CTM
647-836-8767
Moyez....@gmail.com
Moyez....@me.com
Hi Moyez,
Welcome to the July issue of my monthly newsletter!
When you think of a classic Canadian fast-food company, does A&W come to mind? It should! It has been completely Canadian owned and operated since 1972 and has over 1070 locations across the nation. The same is true of Mortgage Architects, Mortgage Centre Canada, and Dominion Lending Centres - all brands that are 100% Canadian owned and operated and proudly part of DLCG. We’ve already surpassed 500 franchises and have over 9000 agents in our network.
A&W’s nostalgia runs deep with Canadians, thanks in part to Rooty the Great Root Bear, who celebrated his 50th birthday in 2025. We’re not quite there yet, but some of the DLCG brands are celebrating their 20th birthdays this year!
Much like the family of DLCG brands, A&W has grown a lot since the first location (can you guess where it was? Answer at the end of the newsletter!) by focusing on quality and locally sourced ingredients, farming all their beef and eggs right here in Canada. So, no matter where across Canada your adventures take you, make sure you raise a frosted mug and an onion ring to Roy Allen & Frank Wright. And give me, your friendly DLCG mortgage agent a wave as you go by!
Stop Ghosting Your Credit Score — It Notices
institution at any time, making it a key concern for current and prospective homeowners. But how much do you know about this mystical number?
In Canada, a credit score is a 3-digit number that you build (up or down) based on your use of credit products, such as loans, credit cards and bills. It is constantly changing, so monitoring and improving it is a life-long process.
Interested in how your score is calculated? Here’s the breakdown:
Payment history of credit cards, car loans, student debt, mortgages, department store credit, and other loans, including tracking any late or missed payments makes up 35% of your score
Credit history is mostly about how long you’ve had credit for and a track record of how you’ve managed it, and it makes up 15% of your score
Used credit vs available credit, which looks at revolving credit only, and includes your lines of credit and credit cards. Here it’s about a balance of having the credit vs using it, and makes up 30% of your score.
Credit mix means a variety of types of credit being used, and makes up 10% of your score
Credit inquiries, which are done by lenders every time you apply for credit, and make up 10% of your score
What credit score should you aim for?
When it comes to your credit score, a higher number is better. A bruised score (anything under 560) will mean you’re going to need help getting approved for credit, including a mortgage, car loan, or credit card. Getting a mortgage isn’t out of reach with the help of a mortgage broker, as we have access to alt-A near prime, alternative and private lenders with more flexible lending requirements, some that are exclusive to DLCG.
A good score would be up to 724, a very good score would be up to 759, and an excellent score would cover everything between 760-900. Higher scores mean you’ll have access to more credit and lower borrowing rates, so aiming for something over 660 is a good starting point.
When you apply for credit, a lender will perform a credit check. That check is referred to as a hard hit, and applying for a mortgage is a great example of this. It’s also another reason to use a mortgage broker when you shop for a mortgage – we only do one hard hit on your credit, compared to shopping around yourself and having each lender perform their own. A hard hit is visible on your credit report and impacts your credit score negatively. A soft hit, on the other hand, is something that doesn’t impact your credit score, like requesting your own credit report.
Myths about credit are common. Here are a few things that won’t impact your score.
Getting married or divorced
Using debit instead of credit when making a purchase
Salary changes
Seeing a credit councillor
Requesting/monitoring your own credit report for accuracy and fraud
Speaking of monitoring your credit – this is a great way to prevent fraud. Requesting your free credit report from Equifax or TransUnion once a year and looking for inaccuracies or signs of fraud is a great start. You should also be sure to notify banks and creditors when you move.
Want to improve your credit score? Here are the basic principles:
Pay your bills on time, every time. You don’t have to pay off the full balance of a revolving credit line, but you do need to ensure you make at least the minimum payment on credit cards, lines of credit, etc. A good figure to keep in mind is having the outstanding balance no more than 30-35%.
Use less credit. Paying off loans, paying down revolving credit sources, and keeping balances as low as possible will reduce your debt load. Don’t apply for new credit if it’s not necessary.
Keep old accounts. Spring cleaning isn’t going to help you here – you want to keep the accounts you have the most history on open. An old credit card or hydro account can provide a valuable credit track record.
If I messed up in the past, am I doomed forever? No! Over time, and with better credit management, you can overcome financial missteps. The amount of time it takes will vary based on how serious the mistake was though.
If you filed for bankruptcy, you’re looking at that staying on your credit report for 7-10 years. One late payment or a few hard hits will typically take less time to recover from. Regardless, it’s going to take some time, so be patient, put in the effort, and be diligent about future money decisions.
Overall, your credit is important to pay attention to, as it can really impact your life – be it the car you drive or the home you live in. When it comes to your mortgage, I can help you get qualified no matter what your score is – that’s the beauty of using a mortgage broker.
Whether it’s a difficult qualification or negotiating the best rate for the best credit histories, I’m here to help.
Enjoy the Sun and Get Things Done: Your Summer Focus Guide
Summer always seems to be the shortest season here in Canada, when we all want to get outside and enjoy these few months of warm weather. People often feel remorseful if they don’t take advantage of the outdoors – aka sunshine guilt. But unlike our U14 counterparts, most of us have to maintain employment all summer long, putting a damper on those outdoor plans.
Here are three strategies to deal with that sunshine guilt and put you on track for summer maxxing without missing a beat professionally.
Strategy 1: Create opportunities to be outside
Take your lunch break outdoors, doing something as easy as eating in the sun. You’re entitled to the break, so take it!
Shift your work hours so that you can finish earlier and enjoy the remainder of the day at your leisure.
Park further away from your office so you can get a 10- or 15-minute walk in before you get to your desk, or ride your bike to work
Strategy 2: Work it out at work
If you work remotely, set up your workstation in your yard or on a patio for a few hours a day
Change up your regular meetings to walking meetings
Strategy 3: Fight the pull of the sun
Create a summer playlist to keep your vibes and energy up
Turn on the AC and keep your office temp around 20 degrees, the ideal temperature for peak office productivity
Stay hydrated to ward off fatigue and keep focused
Hopefully something here will help you stay focused while still enjoying the sun-drenched days of summer we’ve been waiting all year for!
Economic Insights from Dr. Sherry Cooper
Can AI Narrow the Gap Between Productivity Growth in the U.S. vs. Canada?
Since 2000, Canadian labour productivity has increasingly lagged the U.S.
Statistics Canada notes that the Canada-U.S. productivity gap has widened substantially. The Fraser Institute estimates that from 1981 to 2024, U.S. labour productivity increased roughly 127%, compared with 61% in Canada.
Why this Matters
Productivity is the primary driver of real wage growth, living standards, government revenues and international competitiveness.
The U.S. productivity rebound has been driven by strong business investment in technology and AI, increased spending on software, data centres, and automation, and more robust business formation and firm growth.
Canada has generally lagged in business investment per worker, technology adoption, research and development spending and capital deepening.
AI: Opportunity or Risk for Canada?
AI is unlikely to be a job killer, but it could become a major productivity enhancer. AI is having an asymmetric impact on jobs. Rather than eliminating work across the board, AI is reducing demand for occupations dominated by routine, structured, and repetitive tasks while increasing demand for jobs that require analytical thinking, creativity, judgment, technical expertise, and interpersonal skills.[1]
For Canada, this is particularly important because:
- Canada's population is, on average, older than that of the U.S. Canada had a larger Baby Boom, and unlike the U.S., Canada's Millennials do not outnumber Baby Boomers. Canadian labour force growth is slowing as the population ages. Births minus deaths will become increasingly negative by 2028.
- Productivity growth has been weak for nearly a decade.
- Future increases in living standards will depend more on producing more output per worker than on adding more workers.
Why Canada Is Aging Faster
1. Lower Birth Rates
Canada's fertility rate is among the lowest in the G7 and has fallen to record lows.
- Canada: ~1.3 births per woman
- U.S.: ~1.6 births per woman
- Replacement rate: 2.1 births per woman
While both countries face demographic aging, Canada's fertility decline has been steeper.
2. Longer Life Expectancy
Canadians generally live slightly longer than Americans, which contributes to a larger share of seniors in the population.
3. Baby Boomer Retirement
Both countries are experiencing the retirement of the Baby Boom generation, but Canada entered this phase with an older age structure and lower fertility.
4. The Immigration Wildcard
Immigration is the key reason Canada may avoid an even more dramatic aging problem.
Canada admits immigrants equal to roughly 1%-1.5% of its population annually, among the highest rates in the OECD.
Most newcomers arrive between ages 25 and 40, which:
- Boosts the working-age population
- Increases labour force growth
- Slows the rise in the median age
Without immigration, Canada's median age would likely be approaching 45 years already.
The Productivity Connection
This is where demographics and productivity intersect. Historically, economies grow through GDP. GDP Growth = Labour Force Growth + Productivity Growth. For much of the past decade, Canada relied heavily on population growth to drive economic expansion.
The U.S., by contrast, has benefited from faster productivity growth, stronger business investment, and larger technology sectors.
As Canada's population ages, labour force growth will slow, healthcare spending will rise, and the ratio of retirees to workers will increase. This means that future Canadian prosperity will depend increasingly on productivity growth rather than population growth.
Why AI Matters More for Canada Than the U.S.
One could argue that AI is actually more important for Canada than for the U.S.
The U.S. has two growth engines: population growth and strong productivity growth. Conversely, Canada has increasingly relied on immigration-driven population growth. Going forward, Canada will need a second engine.
AI and technology-driven productivity gains could:
- Offset labour shortages
- Increase output per worker
- Support higher wages
- Help finance rising healthcare and pension costs
What Most Demographers Expect
Most projections suggest that by the mid-2030s:
- Canada's median age will remain above the U.S.
- The share of Canadians over 65 will remain higher than in the U.S.
- Immigration will slow, but not stop, population aging.
- Productivity growth will become the critical determinant of living standards.
Canada's biggest long-term economic challenge is not population growth—it is generating enough productivity growth to support an older population. AI may be one of the few realistic ways to achieve that without requiring ever-higher immigration levels. As Canadian firms adopt AI aggressively, the technology could help narrow the productivity gap.
A striking statistic is that in 2024, U.S. productivity growth (2.3%) was almost four times Canada's pace (0.6%). If that differential persisted for a decade, the impact on relative living standards would be substantial.
Bottom Line
Canada does not have an unemployment problem; it has a productivity problem. AI may be the best opportunity in a generation to address it.
Here’s what I’m sure you’ve been waiting for – the great A&W location reveal! The first A&W location in Canada was opened in 1956 in Winnipeg, Manitoba.
Of interest this month is 7-11 day (of course on July 11), where you can visit any 7-11 store for a free small Slurpee to celebrate the chain’s birthday. July 19 is ice cream day, and I’d love to know what flavour you’ll be indulging in – drop me a line any time!
Thanks for reading and I look forward to seeing you back here in August for the next edition.
Nazir Alani
Dominion Lending Centres - Edge Financial
LICENSE: M0800-6240
OFFICE: 4164181545
CELL: 4164181545
EMAIL: nazir...@dominionlending.ca
Each Dominion Lending Centres office is independently owned and operated.
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