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CategoryMortgage Trends

Posted Mortgage News

The 2024/2025 Rate Forecast

At the Mortgage Professionals Canada conference last month, Benjamin Tal, Deputy Chief Economist at CIBC World Markets, gave a very hopeful and informative presentation.

Mr. Tal always has a keen sense of what’s next both nationally and internationally. He is extremely apt at making sense of global economics, then breaking down in simple terms what it means for Canada. This time he came forward with a positive forecast that I agree with: rates are due to fall.

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Posted 1 Comment on Looking To Buy? Now Might Be the Right Time Mortgage Rates

Looking To Buy? Now Might Be the Right Time

You’ve probably heard me say this before: it’s never a good idea to time the market. But there are moments in time where if you’re looking, it might be better to act sooner than later. These times are rare, but when they do come around, they present a unique opportunity if you play your cards right. This is one of those times.

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Posted 1 Comment on Problem & Solution: I Bought A New Home, But Haven’t Sold My Old One Case study

Problem & Solution: I Bought A New Home, But Haven’t Sold My Old One

Higher interest rates are causing a lot of problems for homeowners. Not just in terms of being able to purchase a home – but also in terms of being able to sell the existing one. Unfortunately, this is a problem I’ve been getting far too many calls about these days. Finding a new home is really only half the battle. Selling your current home to complete the transaction is the real challenge, especially in this market.

It’s easy to feel stuck when you’re in this situation. Luckily, with the right people and the right guidance, there’s always a solution. Here’s an example of a client we were able to get out of a pretty tight corner.

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Posted 1 Comment on Is This the End of Rate Hikes? Bank News

Is This the End of Rate Hikes?

The last few months have been tough to say the least. Variable rates are at their highest levels in 20 years. The prime rate has gone up 4.25% in less than 12 months. Every Bank of Canada announcement feels like it could be another 50 point jump. If you’re a homeowner, it’s seemingly never ending. The news certainly doesn’t help you feel otherwise. But if you take a look at what’s happened in the past, you’ll see that the time we’re in isn’t so unprecedented. We’ve been here before and we’ve gotten out of it – and I believe we’re doing it all over again.

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Posted 1 Comment on The News Says Home Prices Are Falling… But Are They? Consumer Debt

The News Says Home Prices Are Falling… But Are They?

At work, on Twitter, on the news – wherever you are, it seems like everyone is talking about home prices plummeting. That’s the big headline. It’s a neat and tidy story that seems to make sense on the surface: home prices skyrocketed. Then rates went up. Then home prices started slipping. It’s the kind of story that gets clicks and sells newspapers. But if you look beneath the surface you’ll see the full story – one that’s a lot more optimistic, and one that the media often fails to report.

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