Bonnie Millar Mortgages

11/21/2023

Beautiful house , awesome neighborhood.. and priced right

10/15/2023

10/15/2023

At Mortgage Intelligence, we're here to help you conquer any mortgage monsters that come your way. Whether you're a first-time homebuyer or a seasoned homeowner, we have the expertise to guide you through the process smoothly.

✅ Competitive rates
✅ Personalized Solutions
✅ Expert advice
✅ No bad luck with us!

Let's turn this superstitious day into a lucky one by taking the first step toward your homeownership goals.

03/12/2023

The housing market has hit a 14-year low, but positive signs are emerging that we are about to turn the corner. With the Bank of Canada expected to hit a pause on their rate hikes, we are seeing consumer confidence restored as buyers adjust to the new reality. Predictions for the Spring market are in, and buyers are expected to step off the sidelines.

If you are thinking about making a move in the Spring market, reach out to your Mortgage Broker for a free, no-obligation pre-approval to see what you can afford.

03/12/2023

03/12/2023

Here’s to all the incredible women throughout our industry and everywhere! Shine on and live, laugh, love!

Happy International Women’s Day!

03/12/2023

Don’t forget to this weekend!

03/11/2023

Many Canadians who have owned their home for several years have a large amount of equity. With rent prices up on average 10% YoY it is a great time to buy an income property.

Reach out to your Mortgage Broker to learn about the financial options available to you.

03/11/2023

Bank of Canada held its key policy rate at 4.50 per cent today.

With the unemployment rate at 5% and inflation at 5.9%, the Bank of Canada held the overnight rate at 4.5% following 8 consecutive rate hikes. In January, the Bank stated that it “expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases”.

A mild recession or perhaps a “soft landing” of the economy (where the economy slows but unemployment remains steady) is expected in the second half of 2023, not long in duration or severity. Rapidly rising interest rates by the central banks in the G7 countries are designed to reduce inflation by a) curbing wage growth and mildly increasing unemployment rates, and b) pushing up borrowing costs. The net effect is to reduce household budgets and business spending thereby curbing the demand for goods and services which has been the central cause of inflation. There is no indication the U.S. Federal Reserve or the Bank of Canada and the other central banks will not continue to raise interest rates until there are clear indications that the rate of inflation is moving toward the 2% target.

According to Deloitte’s 2023 Economic Outlook report: “Despite an expected pause in interest rate increases, mortgage rates will remain elevated until the end of 2023, preventing many prospective homebuyers from entering the market and leading to further declines in home ownership transfer costs,” the report said.

Looking ahead: The Bank of Canada would be poised to reduce overnight rates to spur the general economy likely in 2024. This will have a dramatic effect on real estate market activity with falling interest rates, pent-up buyer demand, massive immigration causing increased demand for housing, and a severe undersupply of housing stock.

The next interest rate announcement is April 12.

03/11/2023

According to www.betterdwelling.ca, home prices have dropped 17.8% compared to the high we saw in March of 2022. BUT home prices remain 30.9% higher than in 2020.

Yes, we are seeing one of the most significant yearly declines. However, we must keep our perspective on the gains we have seen. A 30.9% increase over three years tells us that owning a home is still a cornerstone to financial success in Canada.