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Ask the Expert: Steve Garganis on how the US impacts Canadian mortgage rates

We all know that whatever happens in US it will affect Canada. Here is my next interview with RatesDotCa for their Ask The Expert edition – Steve Garganis on how the US impacts Canadian mortgage rates.

With President Trump making his return to the White House, financial markets are scrambling to make sense of what’s to come. And whatever our neighbours to the south do, Canada tends to follow. Here’s how this might shape your fixed mortgage rate in the near future. Read more – Interview with Steve

 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 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 Bank News

Ask the Expert: Steve Garganis on future bidding wars and why the feds should allow 40-year amortizations

I had the pleasure of being interviewed by RatesDotCa for their Ask The Expert edition on the current and future markets, rates prediction, amortization, and new changes to the mortgage industry. Here are my thoughts as we enter the fall and winter market. Read more – Interview with Steve

 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 Why Everyone Should Choose The Longest Amortization Possible Bank News

Why Everyone Should Choose The Longest Amortization Possible

One of the most common requests I get when discussing mortgage options with my clients is that they want the shortest amortization they can afford. They want to pay their mortgage off as soon as possible.  I get it! And then I hit them with an unexpected recommendation. I tell them to take the longest amortization possible. Sounds contradictory?  I’ll explain.

Continue reading “Why Everyone Should Choose The Longest Amortization Possible”
Posted 2 Comments on The Great Mortgage Reset Bank News

The Great Mortgage Reset

A FOUR PART SPECIAL EDITION… PART 4 of 4

THE GREAT MORTGAGE RESET… MY RECOMMENDATIONS.

This policy of making it harder to borrow money has only hurt the little guy, the first time buyer and second time buyer.  Those with a higher net worth and accumulated savings can more easily buy a home.  This goes against what CMHC stood for. Their mandate was to promote housing in Canada. Somewhere along the way, this goal has been lost.  We need to bring it back.

Here are the changes that I would propose to make life more affordable immediately:

Continue reading “The Great Mortgage Reset”