Vikramjeet Singh-Mortgage Agent

12/13/2023

Find out how much to afford a $1 million home. The answer will vary based on your credit, down payment, and debts.

12/08/2023

Land Transfer Taxes in Canada: What Home Buyers Should Know

Buyers pay land transfer tax as a closing cost when purchasing real estate in Canada. LTT exemptions and rebates are available in certain circumstances.🏠🔑🏠

12/05/2023

Some new and innovative mortgage products have recently emerged to help Canadians manage the current high interest rate environment, perhaps most talked-about being True North Mortgages 1-year 4.99% fixed rate term.

11/18/2021

Fixed-Rate Increases Costing Today’s Homebuyers Over $10,000 More in Interest. Fixed mortgage rates have been climbing steadily since September. But by how much and at what cost to new homebuyers?
For further details, click on the link below:
https://www.canadianmortgagetrends.com/2021/11/fixed-rate-increases-costing-todays-homebuyers-over-10000-more-in-interest/

For all your mortgage needs, please contact:
Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]

11/18/2021

Fixed-Rate Increases Costing Today’s Homebuyers Over $10,000 More in Interest. Fixed mortgage rates have been climbing steadily since September. But by how much and at what cost to new homebuyers?
For further details, click on the link below:
https://www.canadianmortgagetrends.com/2021/11/fixed-rate-increases-costing-todays-homebuyers-over-10000-more-in-interest/

For all your mortgage needs, please contact:
Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]

11/09/2021

Is it Worth Getting a Mortgage Pre-Approval for a Variable-Rate Mortgage? How can mortgage pre approval protect you from rising interest rates ?
🔑Rates below 2% were readily available one month ago for most uninsured 5-year fixed mortgages, the average is now around 2.79% at most banks. We all suspected rates would rise eventually, but this is happening much sooner than expected.
🔑This sort of variable-rate mortgage is quite compelling these days. Being able to lock in your mortgage payment at 1.40%, versus 2.79% for the fixed rate alternative, is appealing to home buyers and refinancing homeowners who are cash flow-conscious, above all else.
See how can a mortgage pre approval can protect you from rising rates.
For further details, click on the link below:
https://www.canadianmortgagetrends.com/.../how-a.../
For all your mortgage needs, please contact:
Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]

10/19/2021

Mortgage originations will drop 33% in 2022 as interest rates rise, according to industry forecast.

🔑The average rate on the popular 30-year fixed loan will rise to 4%, according to the Mortgage Bankers Association’s forecast.

🔑Refinance originations will drop 62% in 2022 to $860 billion.

🔑However, mortgage originations for the purpose of buying a home are forecast to rise 9% to a record of $1.73 trillion in 2022.

For all your mortgage needs, please contact:

Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]

09/13/2021

Mortgage borrowing hits record🔥🔥 in the second quarter, Statistics Canada says

Statistics Canada says mortgage borrowing hit a record in the second quarter as the amount Canadians owe relative to their income climbed higher.

The agency says on a seasonally adjusted basis that household credit market debt as a proportion of household disposable income rose to 173.1 per cent in the quarter compared with 172.6 per cent in the first quarter.

In other words, there was $1.73 in debt for every dollar of household disposable income.

For further details, click on the link below:

https://www.ctvnews.ca/business/mortgage-borrowing-hits-record-in-the-second-quarter-statistics-canada-says-1.5580050

For all your mortgage needs, feel free to contact me on:

Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]

Statistics Canada says mortgage borrowing hit a record in the second quarter as the amount Canadians owe relative to their income climbed higher.

09/01/2021

Equifax Canada Issues Warning⏰ On Increasing Use 🔥Of HELOCs🏠
The credit monitoring company’s latest consumer credit trends and insights report found that the number of new HELOCs taken out by Canadians jumped 🔥56.7% in the second quarter of this year compared to the same period of 2020.

The HELOC trend is worrisome as often the payments are tied to a variable interest rate," said Equifax Canada in a press release. If interest rates rise sooner than expected, many homeowners could find themselves in financial trouble, said the agency.

For further details, please check the article below:

https://ca.finance.yahoo.com/news/equifax-canada-issues-warning-increasing-110400561.html

08/25/2021

CMHC releases the latest Canada housing starts data amid steep pressures.

The six-month trend in housing starts stood at 286,620 units in July, falling from the 293,085 units in June, according to new figures from the Canada Mortgage and Housing Corporation (CMHC).

Check out the article for more detail:

https://www.mpamag.com/ca/mortgage-industry/market-updates/cmhc-releases-latest-canada-housing-starts-data-amid-steep-pressures/302517

08/24/2021

Today's Mortgage Rates 🏠: Rates Are Up🔥 Across the Board

🔑This is what mortgage rates are averaging. Is it the right time to sign up for a home loan?

🔑Should I lock in my mortgage rate now ⏰?

🔑What factors come into play when considering a home🏠 mortgage?

For further information, feel free to contact me on:

Vikramjeet Singh
Mortgage Agent
Helping You Create Real Estate Miracles
☎️(P) 519-729-0249
📩(E) [email protected]