Over the course of the last two and a half years of pandemic lock downs and supply chain disruptions, we’ve seen some wild swings in the Canadian economy. Many goods were in short supply, service industries were all but shut down and with work-from-home restrictions in place, suddenly owning a home became the hottest commodity. Bidding wars happened across the country, with home prices shooting up by double digits putting significant upward pressure on inflation going into 2022. As the economy opened up earlier this year, fuel prices also shot through the roof as did the prices for food and ma ..read more

As we be enter the second quarter of 2021, the Ottawa real estate market continues an unprecedented boom, fuelled by ultra-low mortgage rates, a surge in demand for more residential space and less regard for proximity to major office hubs. With an abundance of green spaces, a variety of local attractions and a stable workforce, anchored by the federal public service, Ottawa has always been an attractive Canadian city to live and grow roots in. As we enter the second year of the Global Pandemic, where huge portions of the population have been mandated to work from home, Ottawa has become even m ..read more

2020 was an extremely difficult year for many Canadians suffering job losses, sickness or the passing of a loved one from the global pandemic. However, life does go on and we now have the chance to turn the page with a brand new year that promises hope for recovery and even prosperity. Homeowners in Ottawa have benefited from a significant increase in home prices in the capital, while mortgage rates have remained at historic lows. This situation presents a unique opportunity for mortgage holders coming up for renewal, or looking to refinance prior to the end of their term to access their incre ..read more

Ottawa is a hot home seller’s market right now. This competitive situation, combined with uncertain financial times and the additional stresses of Covid, make it very important to not only get a great mortgage rate, but also terms and conditions that are well suited for your particular needs and goals. This is where an experienced mortgage broker, with access to solid and flexible lenders and a thorough knowledge of the local market dynamics can make all the difference… by offering personalized service to quickly process your mortgage application and lock in the financing for your Ottawa home ..read more

The Canadian housing market continues to rebound in the last quarter of 2019, fueled in part by low mortgage rates, especially for fixed-rate mortgages, which are the preferred option for most Canadian mortgage applicants. Global economic uncertainty, resulting largely from U.S. driven trade wars, especially with China, has put downward pressure on interest rates and bond yields this past year. A stagnant bond market makes it easier for mortgage lenders to finance the supply of mortgage loans and offer low fixed rates, but this situation is far from static. In recent months, new signals are em ..read more

Buying a house and applying for a mortgage is the one of the biggest financial decisions most Canadians will undertake. The number of choices in this entire process, coupled with the significant impact these decisions will have on your financial wellbeing, can be overwhelming. This is especially true for first-time home buyers, or individuals with some barriers to applying for a mortgage, such as less than stellar credit, being self-employed or being new to Canada and still trying to adjust to all the cultural changes. Not only do you need to make a sound home purchase decision, to buy a home ..read more

Canadian fixed mortgage rates are currently at their lowest level in the past two years and the consensus among leading economists is that they will likely stay in a range, at or below three per cent, for the remainder of 2019 and well into 2020. Low unemployment, a rebounding housing economy, a weaker Canadian dollar and the removal of tariffs on steel and aluminum, all bode well for Canada to avoid an economic downturn and have led to some moderate projections of economic growth in the coming months in the range 1.5 per cent. However, oil prices have fallen 20-30 per cent since this years’ h ..read more

Factors affecting Canadian mortgage rates are always in motion and tend to have a significant impact on housing markets across the country as well as the monthly mortgage payments that Canadians make. Government regulations also impact mortgage qualification criteria and housing affordability. Until early this year, mortgage rates had been rising and when coupled with a series of new government regulations, most notably the new stress test for uninsured mortgage applicants that was introduced in January of 2018, seriously put the brakes on housing markets across Canada. Many experts affirm tha ..read more

The misery of an extended winter and the lingering effects of rising interest rates over the past year and a half, coupled with the mortgage stress test, have put a real damper on the Canadian housing market, especially in pivotal areas like the GTA, where sales have been flat in the first quarter of 2019. Housing starts are down across the country and home sales were at their lowest level in January, since 2015. GTA home prices were still holding in March as the supply of listings is also down, and the market is relatively balanced between sellers and buyers. Now that the weather is changing ..read more

2018 was a dismal year for housing markets across Canada, especially in the GTA, as a combination of rising interest rates, a new mortgage stress test and economic uncertainty all took a heavy toll. Ongoing NAFTA negotiations, a decline in Oil Prices and GM’s announcement that they intend to close their flagship plant in Oshawa, didn’t help property values in the Greater Toronto Area. Housing markets across Canada will likely pick up steam in the latter half of 2019, as the pace of interest rate increases slows down, evidenced by recent signals from the U.S. FED and the Bank of Canada. Markets ..read more