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 […]
Barrie residential real estate sales for February 2018
The number of residential real estate sales recorded by the Barrie & District Association of Realtors, Inc for the month of February 2018 was 263 units which is down 43.2% from the record set in February 2017. Year to date sales were 482 units in the first 2 months of the year creating a decrease […]
More proposed new mortgage rules may effect mortgage refinances.
Be prepared! The Office of the Superintendent of Financial Institutions (OFSI) is proposing more new mortgage rules that may come into effect October 2017, exactly the same time of the year that the last big changes were made in 2016. The last round of changes affected first time buyers the most because of the increase […]
Canada’s Unemployment rate falls in July to 6.3%
Canada’s job market posted gains of 10,900 more jobs reducing the jobless rate to 6.3%, the best rate in almost nine years. Canada’s strong economy caused the Bank of Canada to raise interest rates last month for the first time in seven years and it is expected that they will raise them again by the […]
Barrie and area real estate price update for May 2017
As someone who is directly involved with the Barrie mortgage and Barrie and area real estate industry, it is important that I consistently check in with where the industry is at both as a whole and regarding the Barrie region. According to the Barrie & District Association of REALTORS Inc.’s prices in Barrie and district have […]
Provincial Government announces new housing measures.
Today, the provincial government announced new measures to try to “cool” the housing market in the GTA and surrounding areas. The focus of these measures are as follows: Introduce a 15% tax on foreign buyers Expand rent control to units built after 1991. This is because rents on new properties have been increasing at an alarming pace […]
