Norm Weller - Mortgage Expert

03/18/2026

Fixed rates have gone up recently. Happy that the variable is the same.

The Bank of Canada held interest rates steady, saying it would “look through” the Middle East war’s immediate inflation impact as it kept focus on downside growth risks.

09/17/2025

Slowly, but here is hoping for more.

Bank of Canada Lowers Policy Rate to 2.5% Today, the Bank of Canada lowered the overnight policy rate by 25 bps to 2.5% as was widely expected. Following yesterday’s better-than-expected inflation report, the Bank believes that underlying inflation was 2.5% year-over-year. Through the recent perio...

05/21/2025

Sometimes going down the path that people do not want to do can get you on the right path.

Getting trapped in a perpetual cycle of debt with seemingly no way out is one of the most stressful situations life can throw at you. For anyone looking for a way forward, experts say a consumer proposal can break the chain without the need for a bankruptcy filing.

05/15/2025

Tariffs did affect the overall market except Edmonton area.

Global Tariff Uncertainty Sidelines Buyers Canadian existing home sales were unchanged last month as tariff concerns again mothballed home-buying intentions, mainly in the GTA and GVA where sales have declined for months. Consumer confidence has fallen to rock-bottom levels as many fear the prospect...

04/16/2025

BoC holds rate steady. Still expected to drop a couple of times this year according to some expectations.

The Bank of Canada held its benchmark interest rate at 2.75% on Wednesday and unveiled two diverging scenarios for the economy, reflecting the unprecedented uncertainty triggered by U.S. tariffs.

04/15/2025

Hope they lower it but things I read it is still a coin flip.

With markets nearly split—pricing in a 40% chance of a rate cut and a 60% chance of a hold—the Bank of Canada’s upcoming rate decision on Wednesday is still very much up in the air.

04/11/2025

First Time Savings Account is what you want to do if thinking about buying a home and have not owned a home in the past 4 yrs.

Nearly half a million Canadians took advantage of the new First Home Savings Account (FHSA) in its debut year, according to newly released tax filing data from Statistics Canada.

04/14/2024

So in the past week the Government came out with a new program for first time home buyers. If a first time home buyer decides to buy a newly built home with less then 20% down, they can have it amortized over 30 yrs.

Although this is a good step in the right direction, I feel it needs to be extended to any purchase for a first time home buyer as it will help drive up prices on new homes. There are a lot of existing houses that would be perfect for new home buyers that are not eligible.

Hopefully the Government will extend this program out.

03/02/2024

So, as of March 21st of this year CMHC is going to scrap the First Time Home Buyers Incentive. This program was under used as it gave the government partial ownership in your home. With rising house prices and people wanting to do renovations it was not a good option for most. I mainly recommended it when a client needed it to qualify.

The new program that came out in April 2023 the First Home Savings Account (FHSA) is much better in my opinion. As long as you are looking ahead to buy you can save up to $40000 over a 15 yr period, with a maximum deposit of $8000 in a year. This works like an RRSP where you claim it on your taxes as a deduction. The difference though is that unlike RRSP's you do not have to repay it over time. This could save you thousands.

The money put in according to what I read can be taken out again immediately to purchase a home. Check with your bank to see what their requirements are as I have seen some say you can take out immediately and some say 90 days.

For anyone looking to purchase a home contact your Bank to look into this. It will be well worth it.

Happy House Hunting!!!

03/01/2024

Still No Recession In Canada Thanks to Huge Influx of Immigrants Real gross domestic product (GDP) rose a moderate 1.0% (seasonally adjusted annual rate), a tad better than expected and the Q3 contraction of -1.2% was revised to -0.5%. This leaves growth for 2023 at a moderate 1.1%. Monthly data, al...

02/25/2024

If you are interested in buying now is the time to get the process in motion for the spring and summer. Knowing what you would be qualified to buy is very important when shopping.

Rates are as low as 4.89% depending on qualifications, down payment and property.

12/19/2023

Check out this link that talks about the new first time home savings account. It is a great way to start to save up to buy a house!!

Take out the space between the http and the s.

http s://www.canadianmortgagetrends.com/2023/12/heres-why-prospective-first-time-buyers-should-open-a-first-home-savings-account-before-dec-31/