Some good news on mortgage rates…
Mortgage Brokers are receiving good news this week from many financial institutions. Wholesale fixed mortgage rates are falling. Great news for anyone buying, refinancing or renewing their mortgage in the near future.
The news comes as a reaction to lower than expected inflation rates. We saw 2.7% vs the expected 2.9% reported. And the US economy is finally seeing signs
Continue reading “As expected, rates are beginning to fall”
Everything is playing out as expected. Fixed rates have begun to fall, slowly. But this isn’t unusual or unexpected. If you’ve followed interest rate hikes and cuts, you’ll see a familiar pattern.
Continue reading “Why fixed rates haven’t dropped that much yet”
It’s really not that complicated. If you really want to resolve the housing crisis you just need to do these FIVE things
- 1. Bring back 35 year amortization periods and increase qualifying home prices to $1,250,000 or higher.
- 2.Remove rent control rules.
- 3.Halt new immigration until we can build up enough support services to handle what we have already. *(exception below)
- 4.Cut back on the municipal, provincial gov’t Red Tape to build any type of residential housing and that includes purpose built rental apartment buildings.
- 5.Create a hiring program to entice and incentivize people to get into skilled trades …and bring over people from outside Canada if you have to (this would be my exception to point 2 above)
- Do this and you’ll soon have more housing units available than you could even dream of. It could be done in 3 to 5 years. It’s just not that complicated.
Continue reading “Housing crisis.. Made in Canada”
2020… It will be known as the year of the pandemic. It will also be known as a year of a record-setting real estate market. We saw records for volume of sales and new high prices in many cities across Canada. To say there was a lot going on is an understatement. I have to admit I was happy to close my office and give everyone the week off between Christmas and New Year’s.
Continue reading “New Year New Outlook”
Following are the highlights from a telephone conversation with Jean-Francois Perrault, Chief Economist Scotiabank and John Webster, President and CEO Scotia Mortgage Corporation which took place on Thursday, April 9, 2020 at 4:30 p.m.
First, it’s not all bad news. While I’ll have to include some unpleasant information in order to provide a complete picture, that is not the focus.
Continue reading “Financial Outlook with Jean-Francois Perrault, Chief Economist Scotiabank”
