Zena Shekarabi & Associates - Mortgage Brokers

Zena Shekarabi & Associates - Mortgage Brokers ZSA Mortgages was established in 2015 with a history going back to 1999. Ms. Zena Shekarabi, a leadi

A leading advocate in Canada providing the best possible financing solutions that fit our clients' needs. Our talented team of experienced specialists is led by Zena Shekarabi. With access to over 60 lenders, we will assess your needs, customize what works best for you & negotiate for you, presenting to you the best available tailored mortgage solutions.

The Finance Minister, Chrystia Freeland, revealed that the federal government will now permit first-time homebuyers purc...
04/11/2024

The Finance Minister, Chrystia Freeland, revealed that the federal government will now permit first-time homebuyers purchasing newly constructed homes to have 30-year amortization periods on insured mortgages.

Currently, if the down payment is below 20 percent of the home price, the maximum allowable amortization period, which is the duration within which mortgage repayment occurs, is set at 25 years. This extension of the amortization period will make monthly mortgage payments more manageable for aspiring young Canadians looking to secure their inaugural home.

The Bank of Canada has held its benchmark interest rate steady at 5 per cent, hitting pause on its campaign against infl...
03/06/2024

The Bank of Canada has held its benchmark interest rate steady at 5 per cent, hitting pause on its campaign against inflation in response to evidence that the Canadian economy has begun to stall.

As per Jimmy Jean, the chief economist at Desjardins, we will likely see the first rate cut in June 2024 but it may come...
02/27/2024

As per Jimmy Jean, the chief economist at Desjardins, we will likely see the first rate cut in June 2024 but it may come as early as April if inflation and economic growth decelerate more than anticipated.

Jean emphasized the negative impact of the aggressive monetary policy and stressed the necessity of rate cuts.

Desjardins predicts a series of rate cuts by the central bank throughout this year and into 2025, with a reduction of 25 basis points at each meeting. By the end of next year, interest rates are expected to be halved compared to the current levels.

According to Desjardins’ forecast, the Bank of Canada’s key overnight rate, currently at five per cent, is projected to reach 2.5 per cent by the end of 2025.

It was highlighted that the Bank of Canada cannot afford to maintain higher rates for an extended period like the U.S. Federal Reserve due to the sensitivity of the Canadian economy to interest rates.

Congratulations to our clients on the closing of their newly purchased home! 🔑🏡💐Our team is here and ready to help you w...
02/13/2024

Congratulations to our clients on the closing of their newly purchased home! 🔑🏡💐

Our team is here and ready to help you with your mortgage needs spanning from advice, application, all the way to completion and closing.

If you are due to renew your mortgage within the next six months, please do not delay any further - contact us today to discuss your options!

A stress-free home purchase is all about being prepared. You can get ahead of the game by gathering your financial paper...
01/31/2024

A stress-free home purchase is all about being prepared. You can get ahead of the game by gathering your financial paperwork ahead of time:
- all bank account statements,
- ⁠last two pay stubs,
- ⁠two years of T4s if you are an employee or two years of Notice of Assessment if you are self employed,
- ⁠Three months of rent payments and/ or lease,
- ⁠documentation of any outstanding loans,

Be prepared to be asked for some of these twice or for even more documents in some situations! Different banks may need to get the information directly from you rather than sharing documentation (i.e., your mortgage lender or the loan underwriter).

Our talented team of experienced specialists is led by Zena Shekarabi. With access to over 60 lenders, we will assess yo...
01/11/2024

Our talented team of experienced specialists is led by Zena Shekarabi. With access to over 60 lenders, we will assess your needs, customize what works best for you & negotiate for you, presenting to you the best available tailored mortgage solutions.

Banks have begun releasing their predictions for interest rates in 2025. There are two rates to consider:1) Firstly the ...
12/22/2023

Banks have begun releasing their predictions for interest rates in 2025. There are two rates to consider:
1) Firstly the interest rate set by the Bank of Canada which affects mortgage rates. CIBC predicts that this rate will remain at 5% until mid 2024 and then gradually decrease to reach 2.5% by the end of 2025. On the other hand TD economics expects a rapid decline to 2.25% by the end of 2025.
2) The other figure is the yield on 5-yr government bonds, which determines fixed mortgage rates. It currently stands at a sixteen-year high of 4.3%. According to TD economists, it will slowly decrease to around 2.6% by the end of 2025.
If these forecasts prove accurate, it suggests that variable rate mortgages will experience a decline compared to fixed rate mortgages potentially making them more popular than they are at present.

As per Royal LePage, Toronto’s housing market is set to see one of the biggest price jumps in Canada in 2024!While the T...
12/20/2023

As per Royal LePage, Toronto’s housing market is set to see one of the biggest price jumps in Canada in 2024!
While the Toronto Regional Real Estate Board (TRREB), RE/MAX and Zoocasa are forecasting decreases in average home prices in Toronto and other regions in Canada over the next few months, Royal Lepage predicts that home prices are expected to show greatest increases in second half of 2024. They also predict that the Bank of Canada will hold rates steady through the first half of next year, and would begin to modestly ease rates in late summer or fall.
Home prices are forecasted to see moderate quarterly gains in the first two quarters of 2024, with more considerable increases expected in the second half of the year.

This follows after Re/Max had complete different projections. They are anticipating the cost of the typical home in the GTA to be decreased by about 3% in 2024 and some areas to fall back as much as 5%. Such predicted price decrease is expected to result in more sales and transactions in the market.

Address

8199 Yonge Street , Unit 405
Thornhill, ON
L4J1W5

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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