Abi Selvam - Mortgage Agent

Abi Selvam - Mortgage Agent Looking for mortgage advice? Let’s make your homeownership dreams a reality! Reach out today to get started.

As your local CIBC Mortgage Advisor, I’m here to help with tailored solutions, whether you're buying your first home, renewing, or refinancing.

Excited to announce that I’ve joined the CIBC team as a Mortgage Advisor! 🏡✨ Whether you’re looking to buy your first ho...
08/15/2024

Excited to announce that I’ve joined the CIBC team as a Mortgage Advisor! 🏡✨ Whether you’re looking to buy your first home, refinance, or explore your mortgage options, I’m here to guide you every step of the way. Let’s make your homeownership dreams a reality with personalized solutions tailored just for you. Reach out today, and let’s start this exciting journey together!

Rent prices have surged by 22% over the past two years, with a projected additional 5% hike this year. If you’re a rente...
02/22/2024

Rent prices have surged by 22% over the past two years, with a projected additional 5% hike this year. If you’re a renter contemplating homeownership, feel free to contact me to assess your eligibility. As housing prices soften, affordability is improving, and I can walk you through the various options to facilitate your purchasing journey.

⭐️ May all your dreams come true in the coming year. Puthandu Vazthukal ⭐️ 🙏
04/14/2023

⭐️ May all your dreams come true in the coming year. Puthandu Vazthukal ⭐️ 🙏

📣 The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating it is taking...
03/08/2023

📣 The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating it is taking a wait-and-see approach with monetary policy.

The central bank says it has decided to hold its key rate at 4.5 per cent based on its assessment of recent economic data.

“Every woman’s success should be an inspiration to another. We’re strongest when we cheer each other on.” Serena William...
03/08/2023

“Every woman’s success should be an inspiration to another. We’re strongest when we cheer each other on.” Serena Williams

🌹 Happy International Women’s Day 🌹

📢 The Bank of Canada has raised its overnight target rate by 50 basis points, bringing it to 3.75%.

This is the Bank’s ...
10/26/2022

📢 The Bank of Canada has raised its overnight target rate by 50 basis points, bringing it to 3.75%.

This is the Bank’s sixth consecutive rate hike and was expected by markets.

The Bank said interest rates will need to rise further to “restore price stability” for Canadians, but that future moves will be data dependent.

“Future rate increases will be influenced by our assessments of how tighter monetary policy is working to slow demand, how supply challenges are resolving, and how inflation and inflation expectations are responding,” the Bank said in its statement accompanying the decision.

Banks and other financial institutions are expected to raise their prime rate in the coming days, which will increase rates for variable-rate mortgage holders.

10/24/2022

Wishing you and your loved ones a very happy Diwali 🪔 ⭐️

What is your mortgage trigger rate?The Trigger Rate is the point where your monthly payments are only covering interest ...
10/22/2022

What is your mortgage trigger rate?

The Trigger Rate is the point where your monthly payments are only covering interest and not paying down any principle. When this happens your lending institution will reach out to you and suggest converting to a fixed-rate mortgage. Generally you are not obligated to take immediate action but once the outstanding balance hits your original loan amount you hit your Trigger Point. At this time, you will be required to take action by making a lump-sum payment, converting to a fix-rate, or increasing your monthly payment.

If you receive a notice about your Trigger Rate or Trigger Point, contact me for more details! MortgageAlliance

A reverse mortgage is a great option if you are 55+. It lets you access the equity in your home, tax-free. No mortgage p...
10/22/2022

A reverse mortgage is a great option if you are 55+. It lets you access the equity in your home, tax-free. No mortgage payments are required, and you can receive the cash over time or in one lump sum.

This can help with:
✔️ Paying off debt
✔️ Managing ongoing bills like property taxes
✔️ Providing a financial cushion
✔️ Renovations and property maintenance

Contact me to discuss the benefits of a reverse mortgage.

📣 The Bank of Canada hiked its benchmark interest rate by 75 basis points on Wednesday, the fourth consecutive outsized ...
09/07/2022

📣 The Bank of Canada hiked its benchmark interest rate by 75 basis points on Wednesday, the fourth consecutive outsized hike, and the central bank warned further increases are to come.

The hike brings the key interest rate to 3.25 per cent, the highest level since April 2008, when the Bank was slashing its rate in the midst of the Great Recession. Canada now has the highest policy interest rate among G7 countries.

The central bank warned the policy rate will need to rise further "given the outlook for inflation."

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