GDC Mortgages

09/08/2021

Low mortgage rates is fueling the rise of mortgage debt among Canadians. But with low default rates and stricter qualifying criteria for borrowers, it's not a cause of concern just yet.

New mortgage debt surged by the biggest amount on record in the spring of 2021. But with prices continuing to defy expectations, policy-makers and economists are left wondering: Where does it end?

04/06/2021

Interested in investing in Private Mortgages? Contact me to learn more about the offer below.

04/06/2021

Fixed rates are going up, but variable rates are steady and can be a great option for your next purchase. With Economy still recovering from Covid, Bank of Canada plans to keep rates steady till 2023. Contact me for a free 15-min consult.

Fixed interest rates may be going up, but variable rates are a different story

03/05/2021

https://ca.movies.yahoo.com/canadian-banks-raise-some-mortgage-rates-lower-others-192709963.html

Major banks raise interest rates on fixed mortgages while lowering rates on variable mortgages. With the economy recovering and positive news around vaccine, fixed rates will likely go up. Unlikely to have a cooling effect on the hot market.

Call me today to take advantage of historic low rates!

For the first time since the start of the COVID-19 pandemic, Canadian banks raised rates on some fixed mortgages. TD Bank, National Bank of Canada, HSBC, Royal Bank, Scotiabank, and BMO made moves in response to a rising yield on the Canada 5-year bond. Posted rates remain the same, but special rate...

02/20/2021

https://www.bnnbloomberg.ca/canadians-pile-into-mortgage-debt-at-fastest-pace-in-a-decade-1.1566011

An increase of $118B in mortgage debt in 2020, the fastest yearly growth since 2010. Historic low rates are fueling the growth as economy slowly recovers from the pandemic. I think the trend will continue for 2021.

Canadians binged on mortgage debt last year, increasing borrowing at the fastest pace in a decade to buy homes.

11/27/2020

Will Mortgage Rates Go Lower?

The pandemic has led to historically low mortgage interest rates but there's a chance they may go lower depending on severity of the second wave and vaccine availability. While they won't go much lower, the good news is the low rates are here to stay and highly unlikely to go up until a strong economic recovery is well underway.

Not by much, but yes, several analysts say

11/27/2020

Good news Home Buyers! Canada's Mortgage "Stress Test" level falls for the third time since March to 4.79%.

Why is this good news?

Stress test level is an interest rate that Canada's Big Banks use to test the borrower's ability to make payments in the event of a sudden interest rate hike at their current income levels. By having to meet a lower threshold, it makes it slightly easier to get approved for a bigger amount of mortgage

The bar at which the finances of mortgage borrowers gets tested has just been lowered, making it easier for would-be home buyers to reach.

11/22/2020

1. Save Time and Money

Mortgage brokers can save you time, money and effort by finding the right lender and the right product for you.

2. Best Interest Rate

Mortgage brokers get volume bonuses with certain lenders and can negotiate to get you the best rate on your behalf.

3. Protect your Credit

Multiple credit checks can lower your score. Mortgage brokers pull your credit report once to shop for the best rate with multiple lenders.

4. Unbiased Advice

Mortgage brokers work for the customer, not the lender. To ensure high quality referrals, they provide unbiased advice on the best product suited for you.

5. Free Service

In most cases, it's a free service. The Mortgage broker is paid a finder's fee by the Lender while the customer doesn’t get charged for the brokerage services. Exception are private mortgages.

===========

If you’re in the market for a home and need a mortgage OR

looking to renew your current mortgage at a lower interest rate OR

looking to pay down high interest debt by refinancing OR

looking to take out equity for bigger expenses,

DM me or give me a call at 416-710-2308.

Take advantage of the historically low interest rates today!