Robert Ganzhorn - Mortgage Outlet

03/31/2020

https://www.scmp.com/business/article/3077639/chinas-housing-market-springs-back-life-sales-30-major-cities-triple

China’s housing market is staging a revival as more sales offices reopen across the country following a nationwide shutdown, saving home builders from a deeper liquidity crunch.

03/22/2020

https://www.cbc.ca/news/business/mortgage-deferral-rbc-banks-covid19-coronavirus-credit-card-1.5505704

Details of RBC's mortgage deferral program, obtained by CBC News, reveal the option will available to all mortgage holders but in a way that will add to customers' debt load and appears to ensure the bank will not lose money in the short term, and possibly even come out ahead.

03/04/2020

Bank of Canada just cut the overnight rate by 1/2 percent. Remains to be seen if lenders will pass that full 1/2 percent cut to its borrowers though. My guess is they won't

The Bank of Canada cut its key benchmark interest rate Wednesday morning over concerns about what the coronavirus could do to the economy.

02/18/2020

https://beta.ctvnews.ca/local/montreal/2020/2/17/1_4815229.html

The city says it will use the right of first refusal to improve its inventory of social and community housing.

05/08/2019

Invest or pay down your mortgage? I've always been a fan of the latter but however it depends on the investment opportunities on hand.

Great arguments here on why paying down your mortgage makes the most sense.

Plus a way to check on the finances of charitable donation foundations

05/01/2019

A number of months ago several bank employees spoke out about aggressive and not so beneficial customer sales tactics of their employers. Financial Consumer Agency of Canada (a federal agency) vowed to do a study and produce a report on their findings.

Well the agency did produce a report, and it was released but not before the very organizations that were being investigated were allowed to have their say on the content.

Those same individuals that had the stones to the be whistle blowers have now angrily spoken out on how the report was weakened after banks and other government departments reviewed the report before its release.

Give this one a read.....

Employees at CIBC and Scotiabank say they were angered to learn the banks were allowed to weigh in on a draft report on aggressive sales tactics in the industry - after which the report was weakened. They explain why the bank review didn’t detect “widespread misselling” and say the pressure to...

04/25/2019

If you thought Toronto was bad for home affordability thank the gods you're not in Vancouver...

https://globalnews.ca/news/5201798/millennial-homebuyers-income-cities-canada/

04/04/2019

Not that this should be a surprise to anyone, but Evan Siddall says the federal government funding for affordable housing isnt enough...

"The goal is a moon shot"

So much for afford-ability in the near future.

The president of the Canada Mortgage and Housing Corp. says his agency wants to raise millions more dollars to help Canadians afford places to live, despite the billions already available in government funding.

04/04/2019

There a lot of different opinions where the Toronto market is going right now and a lot that opinion is leaning towards a drop in real estate prices. I'm not one of them (for now) given what we are seeing currently.

This interview on BNN Bloomberg discusses why the Toronto market seems to be stable vs. what is happening in Vancouver right now.

https://www.bnnbloomberg.ca/video/realosophy-president-review-of-mortgage-rules-not-necessary~1651358

04/03/2019

British Columbia proposes a new Land Owner Transparency Act

"It will require corporations, trusts and partnerships to be able to include the information around who is an owner of the land, just as citizens do when they register (at the land titles office)," James said at a news conference after presenting the bill in the legislature.

This is a pretty important article for those of you that invest and have done so through corporations, trusts etc.. If the legislation is passed you will be associated with each and every property that you have an investment in. Although only proposed legislation currently, it seems inevitable given the recent knowledge of the high level of money laundering in Canada and the new tax evasion focus that CRA has implemented. It's only a matter if time before it is adopted in other provinces

Time to start your planning. Talk to your lawyer, accountant and your mortgage broker sooner rather than later to be prepared.

The British Columbia government introduced legislation Tuesday aimed at preventing tax evasion and money laundering by shining a spotlight on anonymous real estate owners hiding behind shell and numbered companies.

04/02/2019

For those living in the GTA and getting excited about the offerings to first time home buyers in the most recent Liberal budget, sorry to burst your bubble but....

The budget did nothing to help you qualify if you don't qualify now.

With the cap on household income and a maximum mortgage/purchase price (hasn't been confirmed which yet) of about $480,000, the link below tells you exactly what might be available to you in the GTA....😔

With soaring real estate prices within the City of Toronto, many are looking just outside of the city to buy property, and somewhere close to a GO Transit.