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Category Archives: General
Housing and Interest Rate Predictions for 2022
This we know for sure. For the second straight year despite the COVID pandemic (and all its variants), the Canadian real estate market has continued its upward climb. The Canadian Real Estate Association predicts that when all the 2021 numbers … Continue reading
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Heads Up! Interest Rate Hike Expectations Are Growing
Canadian Mortgage Trends recently reported, “With inflation well above the Bank of Canada’s target level and ongoing supply chain issues, expectations of earlier-than-expected interest rate hikes in 2022 are growing. For much of the past year, the Bank of Canada … Continue reading
Posted in General, Mortgage Strategies, Running for Rachael
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THINKING About Buying a Home? Get Organized First!
The moment you start thinking about buying a home is the moment to start thinking about where your down-payment will come from. Moving all your sources of money for a down-payment into a single “staging” bank account will help. This … Continue reading
Changes to Stress Tests for Insured and Uninsured Mortgage Financing
Follow the Leader… Starting June 1, both insured and uninsured mortgage borrowers are subject to a stricter stress test when qualifying for their mortgage. The Office of the Superintendent of Financial Institutions (OSFI) confirmed that it has moved ahead with … Continue reading
Posted in First Time Home Buyer, General
Tagged mortgage broker, mortgage financing, mortgage stress test
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Did You Know: PRE-Approval Does Not Guarantee a Mortgage Approval?
In this scorching hot sellers housing market, it’s important to know that a pre-approved mortgage does not automatically become an approved mortgage when you submit an Offer to Purchase. In the past, buyers included a “conditional on financing” clause – … Continue reading
The Good, the Bad, and the Awesome in Mortgage News…
The Good: It’s hard to believe that anything good could come out of the COVID-19 pandemic – and yet – a new analysis by rate comparison site Finder has found that Canadians saved approximately five times more of their disposable … Continue reading
Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies
Tagged mortgage financing, Tracy Irwin
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Feel Like You’ve Missed Your Opportunity to Buy a Home?
Based on consumer surveys the answer is a resounding NO! What You Should Know About Homeownership in 2021: We know economic forecasting in this rapidly changing COVID-19 environment is impossible because of extreme uncertainty related to key factors that drive … Continue reading
Posted in General
Tagged mortgage broker, mortgage professionals of canada, Tracy Irwin
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Running for Rachael: The Results
We are thrilled to report that we raised just over $26,000 this year at Running for Rachael, not far off the $30,180 we raised last year. We feel so blessed by the support of the community during this difficult time! … Continue reading
Mortgage Wise: A Breath of Fresh Air
COVID-19 may have frozen the real estate market earlier this year, but it thawed in a spectacular fashion in July with 62,355 sales nationally. Amidst all the negative COVID news, this was a breath of fresh air for everyone. Resilient … Continue reading
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