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Mortgage Rates are still trending Lower… Yes, in August!

Its Christmas! Home Sweet Home. Home Improvement And Time. Enjoy

A couple years ago, the federal government brought in some tighter mortgage qualifying rules. The ‘stress test’ was just one of several changes, but it’s definitely the most well known.

The feds wanted to slow the housing market. They also wanted to ensure that borrowers could afford the much anticipated mortgage rate hikes. Rates have to go up some time, right?! When?!

Continue reading “Mortgage Rates are still trending Lower… Yes, in August!”

Finance Your New Construction Home at Prime Minus 0.80%!

Blog Image, New Construction, May 2019

Before I get into the topic of new home financing, I want to share some positive news! The Ontario housing market is definitely alive and well! I’m seeing new properties come to market and disappear within weeks or even days. Multiple offers are also a reality, once again. Watch for encouraging sales stats to be reported next month.

Buying a resale home

Buying resale is great because you can see what you’re getting and you can have it now (average closing is 45 to 90 days). You can also set and hold your mortgage rate now.

But, there are also some negatives to buying a resale. For one, you’ll never get 100% of what you want. Maybe the kitchen, master bedroom or backyard could be bigger or perhaps you’d prefer a different floorplan. The truth is, you’re buying someone else’s home that wasn’t designed for you.

But, hey, that’s life and you can’t have everything you want. At least, not yet… or maybe you can?

Construction financing as low as prime minus 0.80% – 3.15% today!

Continue reading “Finance Your New Construction Home at Prime Minus 0.80%!”

Mortgage Rates have Dropped and Will Fall Further

Mortgage shopping

Rate forecasting isn’t rocket science – it’s more common sense than you think! But, it requires a clear mind to make sense of all the rubbish that’s being published these days.

I’ve been forecasting for a while now that interest rates would start to come back down this year. Currently, interest rates are down by around 0.4% and will come down further.

WHY ARE RATES FALLING?  Continue reading “Mortgage Rates have Dropped and Will Fall Further”

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