Sameer Sen, Mortgage Agent - NVR Mortgages

10/22/2024

Forecasters expect the Bank of Canada to speed up the pace of interest rate cuts and lower its policy rate by half a percentage point ot even more this week.

The Bank of Canada has lowered its key interest rate three times so far, bringing it down to 4.25 per cent.

02/06/2024

When you're looking to buy a home, a few things will influence what you can afford. Factors like your credit history and total debt load will have an impact on borrowing. Check out this quick mortgage primer by the Government of Canada, then reach out with your questions!

https://www.canada.ca/en/financial-consumer-agency/services/mortgages/preparing-mortgage.html

01/08/2024

https://www.msn.com/en-ca/news/canada/lawyers-urge-caution-as-more-canadians-lose-deposits-on-presale-homes/vi-AA1mBBFg

A new Canadian who lost his family's savings when he couldn’t close on a presale home is warning others to be wary. Sudip Sehgall said he found another buyer to take over the contract, but the developer refused and kept his $82,000 deposit.

10/31/2023

According to RBC's analysis, more than $186 billion of mortgages are set to renew in 2024. At today's interest rates, the weighted average payment shock for those renewing next year would be 32 per cent. In 2025, RBC says there are approximately $315 billion of mortgages set for renewal, with many being variable-rate mortgages.

With 60 per cent of all outstanding mortgages coming due in the next three years, homeowners will be facing a "payment shock" that could be significant and a tail risk for Canadian banks, a new report says. RBC Capital Markets analyst Darko Mihelic wrote in a research note released on Monday that 60...

10/08/2023

Lower interest rates might be the only thing that could revive Canada’s housing market as supply outpaces demand in the country’s largest real estate markets, experts say.

Lower interest rates might be the only thing that could revive Canada’s housing market as supply outpaces demand in the country’s largest real estate markets, experts say. For example, Toronto home sales plummeted as new listings surged in September. Sales were down 12 per cent from August and 7...

10/03/2023

New research suggests that many other cities, like Hamilton, are quickly catching up to Toronto when it comes to unaffordability.

Hamilton — Canada’s 10th largest city — is one of the most expensive housing markets in Ontario Housing affordability has become one of, if not the biggest, challenges facing Canadians today. A recent study by National Bank of Canada ranked Ontario as the least affordable province when it come...

09/15/2023

Thinking about Homeownership but not sure where to start?

Let's talk! Don't let uncertainty put a hold on your future!

09/14/2023

The measure, which would lower the cost of labour and materials for homebuilders, was one of several affordability measures Trudeau announced at the end of the Liberal caucus retreat in London, Ont.

LONDON, Ont. — The federal government will remove GST on construction of new rental apartment buildings, Prime Minister Justin Trudeau announced Thursday — a move he first promised in the election that brought the Liberals to power. The measure, which would lower the cost of labour and materials...

07/21/2023

With its ability to analyze vast amounts of data, automate processes and provide valuable insights, AI is reshaping the way mortgages are originated, underwritten and serviced.

With its ability to analyze vast amounts of data, automate processes and provide valuable insights, AI is reshaping the way mortgages are originated, underwritten and serviced.

07/19/2023

The latest report from Statistics Canada reveals a decline in the inflation rate to 2.8 per cent last month, down from May's 3.4 per cent.

By Ketki Saxena Investing.com - The annual inflation rate of Canada has eased back into the Bank of Canada's target range, sparking discussions among economists about a potential pause in the bank's aggressive policy tightening cycle. The latest...