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Ask the mortgage expert: How to buy a home in 2026, between budgets, builders, and opportunities

Every year, homebuyers across Canada hold out for the silver bullet—a policy change that will suddenly make the path to homeownership clearer.

From tax reforms to supply-side stimulus, the landscape is changing. The question is: Are these changes enough to bridge the gap between supply and demand, and how can you leverage them to your advantage?

While there is rarely a single “fix” for a market as complex as ours, the most recent budget cycles and policy updates have introduced significant shifts that every homebuyer needs to understand. Continue Reading ….

I hope you will enjoy this article and if you have any questions or would like to discuss I am always available.

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Steve Garganis: 416-224-0114; steve@canadamortgagenews.

Posted 1 Comment on TIME TO ELIMINATE AIRBNBS?.. (No, I don’t think so) Mortgage News

TIME TO ELIMINATE AIRBNBS?.. (No, I don’t think so)

TIME TO GO AFTER AIRBNBS?.. (No, I don’t think so)

Canada wants to eliminate all Short Term Rentals (STR). And they are going to punish anyone that has rented out their properties for short term stays. 

The federal gov’t has already changed tax laws that disallow expensing interest costs on STRs in major urban centers. Effectively making it more costly to own a short term rental property.

Changes to short-term rental rules – link to article

And here’s another tax.  Have you seen this?

Continue reading “TIME TO ELIMINATE AIRBNBS?.. (No, I don’t think so)”
Posted 1 Comment on Navigate through these uncharted waters in 2020 Mortgage News

Navigate through these uncharted waters in 2020

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In 2009 and 2010, for the first time ever we saw mortgage rates under 2.00%.  That’s right, if you were in a variable rate mortgage, you had a rate under 2.00%. We were coming off the catastrophic US sub-prime mortgage crisis. The financial US scam that cost the world trillions of dollars in lost pensions and investments. Tens of thousands of people lost everything they had. It was horrible. While we, in Canada, were largely untouched. We weren’t smarter, we were just lucky not to be exposed to the subprime mortgages to the extent the rest of the world was. As they say, Canada is five years behind the US, and in this case, we got lucky.

That said, let’s get back to mortgage rates and fast forward to 2020.

Continue reading “Navigate through these uncharted waters in 2020”
More Rate Drop
Posted 1 Comment on More Rate Drops Mortgage Rates

More Rate Drops

More Rate Drop

NEW HISTORICAL LOW MORTGAGE RATE MILESTONE REACHED.

Last week, we saw a 5 year fixed rate mortgage at under 2.00%.  That’s right… 1.99%. If you qualified, the rate applied to purchases where the mortgage is Canada Housing and Mortgage Corporation (CMHC) insured and paid for by the client.  But that rate didn’t last long and that offer is over. I know, things move fast.

But let’s get back to current rate offers.  We are in uncharted waters, again. 11 years ago, we were coming out of the US sub-prime mortgage crisis… does anyone remember that?  Back then, the stock markets crashed, just like this year, they recovered, just like this year, but interest rates remained low for many years.  In fact, they remained at or near 3.00% for the next 11 years.  

The message here is this…. there will be small moments in time when interest rates will be extra low…  this is one of those times. If you have a mortgage, get a review done! Find out if it makes sense to refinance or early renew or to break your current mortgage, pay a penalty and lock into today’s low rates. Speak with an UNBIASED PROFESSIONAL. Speak with an experienced mortgage broker.  You have nothing to lose and everything to gain.

Here are some examples of people that paid a penalty and still saved between $9k and $26k. 

Steve Garganis: 416-224-0114; steve@canadamortgagenews.ca

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Dont Panic
Posted 1 Comment on How are things? Mortgage News

How are things?

Dont Panic

Hope this update finds you well.   First, let’s make sure you are okay.  We will get through this.  I guarantee it!  I’ve been through the 2008-09 US subprime mortgage crisis, the SARS 2002 crisis, and the 1990 real estate collapse.  We recovered from all of those terrible times and we will recover from this. I am here to help you in any way possible.  Don’t hesitate to call on me for assistance.

The government has been announcing new programs to provide financial assistance almost daily.   And there have been just as many amendments to those programs as they work to fine tune the programs. 

I want to make sure you are informed with accurate info.  There’s been so much junk articles posted in the mainstream and social media outlets.  Let’s block out that junk and focus on reality.

Continue reading “How are things?”