Jivan Sanghera has been nominated for the 2019 Burlington Post Readers' Choice Awards as one of the best mortgage broker and consultant. https://readerschoice.burlingtonpost.com/2018/12/best-people/mortgage-broker-consultant If you believe in Circle Mortgage, Please have your votes in before Sunday February 10 at 11:59 pm. https://readerschoice.burlingtonpost.com/2018/12/best-people/mortgage-broker-consultant
Jivan Sanghera was featured in this Yahoo Finance Article about "RBC lowers fixed mortgage rate, other banks expected to follow suit". https://ca.finance.yahoo.com/news/rbc-lowers-fixed-mortgage-rate-banks-expected-follow-suit-143633424.html
www.aicanada.ca Appraisal Institute of Canada is the premier real estate appraisal association in Canada. The institute is a self-regulating body whose mission is to protect the public interest by ensuring highest standards, practices and professional conduct in real estate appraisals.
www.bankofcanada.ca The Bank of Canada is the nation's central bank. It is responsible for Canada's monetary policy, bank notes, financial system and funds management.
www.tuc.ca Trans Union Canada is another consumer credit reporting agency providing credit reporting services to Canadian consumers. Trans Union Canada is also a great source of credit-related information.
www.canada.ca/en/revenue-agency The Canada Revenue Agency (CRA) administers tax laws for the Government of Canada and for most provinces and territories; and various social and economic benefit and incentive programs delivered through the tax system.
www.mpac.ca Each year, the Municipal Property Assessment Corporation (MPAC) prepares an assessment roll for every Ontario municipality. The roll provides the assessed value of all the properties in a municipality or in the jurisdiction of a school board with taxing authority. MPAC also prepares supplementary assessment lists, which municipalities use to add in-year tax revenue [...]
www.cmhc.ca Backed by 60 years of experience, we work with community organizations, the private sector, non-profit agencies and all levels of government to help create innovative solutions to today's housing challenges, anticipate tomorrow's needs, and improve the quality of life for all Canadians.
www.genworth.ca Genworth Financial assists families with mortgages, protects families through insurance and helps customers secure their financial future.
equifax.ca Equifax compiles credit reporting data from many sources and creates a credit file that reflects your personal credit history including your FICO score. Now you can view your credit report online enabling you to monitor your credit and monitor your score while protecting yourself from identity theft. Before making major purchases, such as buying [...]
In January the Teranet–National Bank National Composite House Price IndexTM rose 0.3% from the previous month, a tic higher than the historical average for January and a second consecutive monthly increase. However, only four of the 11 metropolitan markets surveyed showed gains – the first time since January 2016 that a rise in the Composite [...]
In October 2017, CMHC surveyed 2,507 prospective home buyers on-line. Respondents were all prime household decision-makers who intend to purchase a new home within the next two years, including approximately 1,500 First-Time Buyers, 500 current owners, and 500 previous owners. The survey results highlight that: • First-Time Buyers and Previous Owners share the same top [...]
Vancouver the main driver of the Composite in December says Teranet and National Bank of Canada Without Vancouver, the Composite index would have declined for a fourth month in a row. The strength of Vancouver’s index is consistent with continued tight home resale market conditions. Toronto’s index declined for a fifth consecutive month, but the unsmoothed [...]
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding [...]
According to the Royal LePage House Price Survey, Canada’s residential real estate market saw strong, but slowing year-over-year price growth in the fourth quarter of 2017. While year-over-year aggregate appreciation remained high in the Greater Toronto Area (GTA) and Greater Vancouver, two-storey and bungalow home values softened in the GTA, slightly declining on a quarter-over-quarter [...]
The start of a new year almost always inspires individuals to commit to resolutions that will improve the quality of life. And in the spirit of the new year, new you mantra, a mortgage review reminder is aptly timed. Many mortgage holders underestimate the value of proactively reviewing their finances and in particular their mortgages. [...]
The share of condominium apartments owned by non-residents remains low in the 17 Canadian Census Metropolitan Areas (CMAs) surveyed, with the majority reporting shares of less than 1%. Non-resident ownership shares remained stable in Vancouver and Toronto, while Montreal saw an increase. Toronto, Vancouver, Montréal, Halifax, Victoria and Gatineau have non-resident ownership shares above 1% [...]
We would like to take this opportunity to wish you and your families a safe and happy holiday season and an even better new year.
In October, the value of permits for both single-family and multi-family dwellings increased in the CMAs of Montréal and Toronto. However, in the Vancouver CMA, both residential components fell, offsetting the gains in September. Municipalities in the CMA of Montréal issued $538.1 million in permits for multi-family dwellings in October, higher than in Toronto ($409.2 [...]
The Office of the Superintendent of Financial Institutions (“OSFI”) now requires that all residential mortgages by federally-regulated lenders must be “stress-tested”, at two percentage points above the contract interest rate (or the 5- year posted rate, if that is higher). In combination with the requirements for mortgage insurance, about 90% of all new mortgages will [...]
In October, employment rose for youth aged 15 to 24, while it was little changed for the core-aged population of 25- to- 54 year-olds, and for people 55 and older. The largest employment increase was in Quebec, followed by Alberta, Manitoba, Newfoundland and Labrador, and New Brunswick. At the same time, there was a decline [...]
According to statistics released by The Canadian Real Estate Association (CREA), national home sales posted a modest monthly increase in October but remain below levels recorded one year ago. “Newly introduced mortgage regulations mean that starting January 1st, all home buyers applying for a new mortgage will need to pass a stress test to qualify [...]
(NC) Are you stressed about money? Being in control of your spending is one way of reducing stress in your life. According to Statistics Canada, most of us are burdened with high levels of household debt. Simply put, too many people are spending more than they earn. They are saving less and not saving enough [...]
The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Inflation has picked up in recent months, as anticipated in the Bank’s July Monetary Policy Report (MPR), reflecting stronger economic activity and [...]
The Office of the Superintendent of Financial Institutions Canada (OSFI) published the final version of Guideline B-20 − Residential Mortgage Underwriting Practices and Procedures. The revised Guideline, which comes into effect on January 1, 2018, applies to all federally regulated financial institutions. The changes to Guideline B-20 reinforce OSFI’s expectation that federally regulated mortgage lenders remain [...]
It goes without saying that most of us would appreciate a little more money in our pockets. Believe it or not, it's actually an achievable goal. In fact, a few simple tips can help you uncover meaningful savings each and every month. Need some ideas? Here's a little inspiration to get you started: 1. Pack [...]
The Bank of Canada is raising its target for the overnight rate to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining. [...]
Many of us were surprised today when Bank of Canada Governor Stephen Poloz announced another increase in the Prime rate raising it to 3.20%. This means that your mortgage rate has likely risen by the same .25%. The Variable rate mortgage has consistently been an excellent choice because of the savings we've generated compared to [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined further in July 2017. Highlights: National home sales fell 2.1% from June to July. Actual (not seasonally adjusted) activity in July stood 11.9% below last July’s level. The number of newly listed homes edged back by 1.8% from June [...]
Canadian municipalities issued $8.1 billion worth of building permits in June, up 2.5% from May and the second highest value on record. Higher construction intentions for multi-family dwellings and commercial buildings were mainly responsible for the national increase. All building components reported gains in June, except for single-family dwellings. The value of residential building permits [...]
(NC) Buying a new home is an exciting but often stressful experience. The variety of financing options now offered by lenders is overwhelming. One of the most popular options is a home equity line of credit. With interest rates typically lower than other forms of credit, this line of credit can help you reach your [...]
The Bank of Canada is raising its target for the overnight rate to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. Recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the absorption of excess capacity in the economy. The Bank acknowledges recent [...]
This is an opportunity to gather in our communities, from coast to coast to coast, and to proudly celebrate all we have in common. It is an opportunity to celebrate our achievements, which were born in the audacious vision and shared values of our ancestors, and which are voiced in nearly all of the languages [...]
Because purchasing a home is probably the biggest investment you will ever make, you’ll definitely want a team of professionals working with you throughout the process. The Real Estate Agent Helps you find the ideal home Writes an Offer of Purchase Negotiates on your behalf Gives you important information about the community Can help you [...]
A good credit report and credit score are important factors in determining whether or not you will be approved for a mortgage. Here are some simple steps you can take to maintain a good credit history, and improve your chances of being approved.
What is a Credit Score Your credit score is a number that illustrates your financial health at a specific point in time. It also serves as an indicator of your financial past, and how consistently you pay off your bills and debts. This is one of the factors mortgage professionals consider in qualifying you for [...]
In March 2017, CMHC completed an online survey of 3,002 recent mortgage consumers, all prime household decision-makers who had undertaken a mortgage transaction in the past 12 months. Sixty-five percent had undergone a mortgage renewal, 15% had refinanced their mortgage, and 20% had purchased a home with mortgage financing (11% First-Time Buyers and 9% Repeat [...]
The following is an excerpt from the VERICO Economic Report written by Michael Campbell The key to understand is that there is a big difference between addressing the affordability problem through reducing demand versus increasing supply. So far politicians have focused on reducing demand by implementing the foreign buyers tax in Greater Vancouver and just recently in Toronto, (and [...]
The Bank of Canada is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation is broadly in line with the Bank’s projection in its April Monetary Policy Report (MPR). Food prices continue to decline, mainly because of intense [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined in April 2017. Highlights: National home sales fell 1.7% from March to April. Actual (not seasonally adjusted) activity in April was down 7.5% from a year earlier. The number of newly listed homes jumped 10% from March to April. [...]
Value of building permits falls in March. Vancouver reports the largest decline, while Montréal sees the biggest increase.
The value of building permits issued by Canadian municipalities fell 5.8% to $7.0 billion in March, marking a second consecutive monthly decrease. Nationally, the decline was mainly the result of lower construction intentions for multi-family dwellings, particularly in British Columbia and Ontario. All provinces and territories, except Ontario and Quebec, registered decreases in the total [...]
On April 20, 2017, the Ontario government introduced the Ontario's Fair Housing Plan, a 16-point plan to control real estate, address the demand for housing, increase supply, and protect buyers and renters. The 16 measures in the plan include a legislation that would implement a new 15 % Non-Resident Speculation Tax (NRST), similar to the 15 % [...]
The non resident buyers tax is really a measure to try and eliminate speculative participation in the residential real estate market in Ontario. Sousa said that they estimate foreign buyers account for approx 8% of purchases being made. This may account for a reduction in offers from these sorts of individuals but the government is [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in February 2017. Highlights: National home sales rose 5.2% from January to February. Actual (not seasonally adjusted) activity in February was down 2.6% from a year earlier. The number of newly listed homes was [...]
By Scott McGillivray (NC) Homes that show well and have great features typically sell faster than their counterparts, sometimes for a premium. If you want your home to stand out, a little effort can go a long way. Try these tips to create an enticing first impression. 1. Clean. A neat, clean home shows pride of [...]
Housing starts are now on pace to hit 204,669 units in Canada, whereas January saw them hitting 200,255 units, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. Monthly highlights - Condominium starts in the Montréal area increased considerably [...]
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018. Canadian housing market trends continue to display considerable regional divergence. In British Columbia, activity in the Lower Mainland has cooled markedly from all-time highs [...]
CMHC (Canada Mortgage and Housing Corporation) will increase its homeowner mortgage loan insurance premiums effective March 17, 2017. Premiums are calculated based on the loan-to-value ratio of the mortgage being insured. Lenders typically require mortgage loan insurance when a homebuyer makes a down payment of less than 20 %. The premium can be paid in [...]
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 % and the deposit rate is 1/4 per cent. CPI inflation rose to 2.1 % in January, reflecting higher energy prices due in part to carbon pricing measures introduced [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were down slightly in January 2017 on a month-over-month basis. Highlights: - National home sales declined 1.3% from December 2016 to January 2017 - Actual (not seasonally adjusted) activity in January was up 1.9% from a year earlier - [...]
The trend measure of housing starts in Canada was 199,834 units in January compared to 197,881 in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. CMHC uses the trend measure as a complement to the monthly [...]