Proposed changes to cool the crazy housing market.
As expected, the federal government is looking at ways to cool the crazy housing market by making changes to the mortgage stress test. Among other reasons, low interest rates have helped to fuel the current state of the housing market which now at one of the fastest paces its ever been. Prices have increased exponentially […]
Home prices in the City of Barrie are skyrocketing!
Home prices in the City of Barrie are skyrocketing. Fueled by many factors including people working from home who want larger spaces and better affordability, supply and demand issues and low interest rates, home prices have skyrocketed. Real estate agents are reporting multiple offer situations on most properties offered for sale. Properties sold According to […]
Spring is here! Its time to plan your garden!
After a dreary depressing winter Spring is here! Not to mention the wonderful weather we are having today and expecting for the rest of the week. Its time to plan your garden! I’m tempted to get outside and start raking away the residue from the long winter. There are leaves to clean up that were […]
February job market looking good!
Finally, some good news! The February job market is looking good! Stats Canada released the February 2021 Labour Force Survey that concluded stronger than expected job growth. The easing of the latest restrictions and lockdowns revived the labour market; a pleasant surprise. Canada’s economy has been resilient but we still remain at risk because of […]
Bond rate increases might trigger interest rate increases.
I appears to be happening! Fixed interest rates are on the rise! Rising Bond Rates Fixed mortgage rates are determined by the 5 year bond yield which has been closing at increased values. This ends up costing mortgage lenders more as the margins that they use for profit and expenses decreases because their borrowing costs […]
Tremendous housing market gains in Barrie in January 2021
The statistics are in for January 2021 and in spite of Covid 19 lockdowns and business closures, Barrie and District Real Estate Board had tremendous gains in housing market activity as compared to January 2020. Its important to note that we are comparing pandemic numbers to pre-pandemic numbers. City of Barrie In the first month […]
Mortgage Interest Rates – 2020 in Review
It goes without saying that 2020 was an unprecedented year. Covid 19 changed all that we knew to be true. In reaction to the close of businesses, government stimulus and the affect lockdowns had on the economy, mortgage interest rates generally went down. The goal was to prevent an economic collapse. Housing markets held their […]
Considering a New Home in the New Year? Read This First
The new year brings with it a wealth of possibilities. Throughout Barrie and the rest of Ontario, folks are coming up with new ways to improve themselves and their lives. For some, this means new resolutions to exercise more often. For others, it might be the decision to start changing the way they look at […]
Slowed Canada job recovery in October.
Stats Canada released their survey which showed an increase of 83,600 jobs in October, well below the gains in September of 378,000. The average monthly gains over the last six months have been 395,000. The good news though is that most of the job gains in October were full time. The number of Canadians working […]
Record High Home Sales & Prices in September
There were record high home sales and prices in September! As the weather turned colder, home sales heated up by 0.9% month over month, giving mortgage brokers throughout Canada plenty to do. Given the unique circumstances of this past year, this change in sales can be at least partially attributed to a delayed demand from […]
