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 Canada rate cut on March […]
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Finally decided to make it official!
I’ve been doing mortgages for many years and have had the name MarStel Mortgage Planning for many as well. I’ve always used the brokerage where I hang my license’s name. Today it’s official, I’ve re-branded! It’s simple and easy, the way I like things! Hope you like it!
New Benchmark Rate For Qualifying Insured Mortgages
The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to help more Canadians achieve their housing needs while also taking measured […]
Weak New Listings Slow Canadian Home Sales as Prices Continue to Rise
Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in the final month of 2019, ending a streak of monthly gains that began last March. Activity is […]
October Data Confirm Housing In Full Rebound
Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the eighth consecutive month. Activity held steady in October at the relatively robust September pace following a string of monthly increases that began in March. Existing home sales are now almost 20% above the six-year low reached in […]