OSFI Considers Setting a Minimum Qualifying Rate of 5.25% For Uninsured Mortgages With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an […]

According to Bank of Canada, “In Canada, the economy and the housing market is proving to be more resilient than anticipated to the second wave of the virus and the associated containment measures.  Although activity in hard-to-distance sectors continues to be held back, recent data point to continued recovery in the rest of the economy. […]

Why do some purchases require a higher down payment than others?  Your purchasing journey is unique, and so are the mortgage options available along with it. This might cause a lower or higher required down payment! Here are some of the reasons it’s important to review your pre-approval specific to the property. Keep these reasons […]

BEFORE you go into an offer on a home purchase with NO SUBJECTS… you need to ensure you’re aware of the risks you might be required to absorb in the process. So much can happen on your home-ownership journey and obtaining your mortgage. Make sure you understand all the risks involved in a subject-free offer […]

International Women’s Day is an opportunity for women to come forward and show the world the impact we make in our community. It was an absolute pleasure to discuss my expertise with other prominent women. The webinar held by the Tri-Cities Chamber of Commerce was absolutely fantastic! In many cases, women are faced with situations […]

Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in February 2021. Canadian home sales increased a whopping 6.6% month-on-month (m-o-m), building on the largest winter housing boom in history. On a year-over-year (y-o-y) basis, existing home sales surged an amazing 39.2%. As the chart below shows, February’s activity blew […]

Fixed Rates and Variable Rates follow different economic indicators. Fixed Rates are based on the bond market where we are presently seeing notable increases (approx. 12 dollars per 100k of mortgage amount with recent changes). The Bank of Canada is watching the housing market closely. While they don’t intend to raise the rates, it is […]

Canadian 5-year Bond Yield Surges  In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered […]

Fixed rates and variable rates follow different economic indicators, fixed rates are based on the bond market and this is were we are presently seeing notable increases. The Bank of Canada is watching the housing market closely. While they don’t intend to raise the rates, it is important to make your decisions with caution, as […]