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 […]
Canadian real estate gains in May 2020.
There was good news in the real estate and housing markets. Home sales surged by 56.9% in May from Aprils collapse. The Canadian Real Estate Association’s data showed that national home sales recovered by about one third of its Covid related loss between February and April. Year over year activity was down almost 40%. There […]
CMHC mortgage changes, June 2020
CMHC (Canada Mortgage and Housing Corporation) has made some changes to their insured lending policies. If you are buying a home with less than 20% down payment, you are required to purchase mortgage default insurance. The premium is usually added to the mortgage amount. There are 3 providers in Canada, CMHC, Canada Guaranty and Genworth. […]
Bank of Canada holds its overnight rate. April 15, 2020
Given the situation felt around the globe, the Bank of Canada is taking unprecedented actions even though we are seeing record job losses, a collapse in oil prices and shutdown of most businesses. The world is under extreme financial distress as economies contract around the world. The Monetary Policy Report said that “While the global […]
What’s happening with interest rates.
Its currently April 6th and its been a very difficult few weeks not only because of our primary concern for our health but also concern for the economy and how we will fair once we finally come out of this. It’s of the utmost importance that we all do our best to comply with the […]
