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 […]
Sigh of relief as Decembers job numbers improve over November
Welcome Rebound in Labour Markets in December Dr. Sherry Cooper, chief economist for Dominion Lending Centres, states that the job market has rebounded in December and we can breathe a sigh of relief. The unemployment rate has reversed itself and erased almost half of the decline in November. This ended the second best year of […]
Who is best at mortgage discharge penalties?
There are several reasons why consumers sign up for five year mortgage terms even though statistically the average mortgage only lasts 3 years. Most of us don’t plan to leave our lending institution early and break our mortgage contract however, life happens. Perhaps you leave your job, change locations, run into financial trouble, get divorced, […]
Election results and your mortgage.
24 OCT 2019 WHAT THE ELECTION RESULTS MEAN FOR YOUR MORTGAGE With all the news we have seen on the election, I thought I would sum it up from a mortgage industry perspective. What the liberal win means for your mortgage: 1. We will see the continuation of the First Time Home Buyers’ Incentive. Check […]
Report on affordable neighbourhoods in Barrie
On Thursday April 25th, 2019 the Barrie Advance published the results of a report written by Zoocasa comparing home prices in the City of Barrie to Toronto. An average home in Barrie sold for$494,488 in March while the average home in Toronto sold for $830,043. This provides proof of the affordability of Barrie as compared […]
Barrie and area real estate sales perk up in June 2018.
The Canadian Real Estate Association released its statistics for the month of June. All statistics are of interest but one has to take into account the inflated nature of 2016 and 2017 which artificially inflated numbers, only to create large gaps in sales levels, which can be defined as a moderate change back to normal […]
