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 […]
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 […]
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 […]
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 […]
Barrie and district home sales have set a new all time record in March 2017
Barrie and district home sales have set a new all time record in March 2017. Unbelievable and no wonder many home buyers are experiencing bidding wars with most homes selling significantly above the asking price. This proves most problematic for First Time Buyers who are the most vulnerable to issues of affordability and inexperience in […]
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 […]
