Throne Speech: Canada’s Response to COVID-19   Prorogation on August 18, following the resignation of Finance Minister Morneau, a new session of Parliament, and a new speech from the throne was meant to allow the government to hit the reset button. And for Prime Minister Justin Trudeau, to try and move past the summer of controversy […]

https://globalnews.ca/video/7254618/mortgage-deferral-deadline-looming

MIDTERM MORTGAGE TRANSFERS: In today’s low interest rate environment, a mid-term mortgage transfer could be an amazing way for you and your family to save thousands of dollars in interest. Many borrowers don’t think they are able to transfer mid-term, however, it is possible. To consider this as an options we need to make sure […]

  Housing Market Continued Its Rebound in June and Early July   There was more good news today on the housing front. Home sales rebounded by a further 63% in June, returning them to normal levels for the month–150% above where they were in April when the pandemic-induced lockdown paralyzed the economy (see chart below). Data released […]

Canada’s Economy Plunged 11.6% in April   The pandemic shutdown put every sector of the economy into a medically induced coma, so it was no surprise that the first full month of lockdown would be ugly. Indeed, consensus estimates were worse than the 11.6% drop in economic activity reported this morning by Statistics Canada (see chart […]

Underwriting guidelines are changing again.  In many mortgage professionals to the detriment of the economy and recovery.   I agree with this analysys. Please see CMHC’s release below.   The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely impacting Canada’s housing markets, […]

THE MAINSTREAM MORTGAGE APP – MY MORTGAGE TOOLBOX – MORTGAGE PRE-QUALIFICATION TUTORIAL. We have the best mortgage app in the country.   Our clients and REALTOR partners love it.  However, some of you are asking for some tutorials to help with some of its features. You asked and we delivered. Today’s video tutorial is how to […]

As the world pandemic continues, Canada and especially Manitoba are leading in flattening the curve.  However, the slowing of the economy has been felt in the number of businesses closed and people filing for employment insurance. This is leaving many mortgage holders and first time homebuyers in the lurch.  Should they defer payments, refinance, sell […]

Why Are Mortgage Rates Rising? Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank of […]