Caitlin Eason - Mortgage Agent

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Toronto, ON
Caitlin Eason - Mortgage Agent

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Toronto-based Mortgage Agent. I'm a creative thinker who is detail-oriented with a passion for all things real estate.

I take pride in my work and aim to make my clients' lives easier by taking some of the stress out of the home buying process.

08/30/2024

💰No matter where your down payment comes from, there’s a minimum amount you need to put down, depending on the price of the property you buy. ✨

SAVE this for when you’re ready to buy your next property.

🏠🏡🏠🏡

07/24/2024

📢 Another rate cut from the BoC 📢

Here’s what you need to know about today’s announcement:

✅ the BoC cut the overnight rate by .25%

✅ this will directly impact all mortgage holders with a variable or adjustable rate as well as anyone with a line of credit.

✅ if you have an adjustable rate (your payments fluctuate along with rates) your monthly payment will drop by about $15 for every $100k worth of mortgage.

✅ economists are predicting the overnight rate will drop by another .50% before the end of the year.

Reach out to discuss how this announcement impacts you directly.

06/06/2024

🥳 This is fantastic news a change that I know will start to bring relief to many individuals and families who have been riding out increased payments over the past couple of years.

I think this rate drop will improve buyer sentiment in the real estate market.

🏠🏠🏠 I have seen a drastic increase in buyer activity over the past three months with the majority being first-time homebuyers.

Many of my clients have gotten great deals and felt confident in their purchases as they have been able to include financing and inspection conditions in their offers.

There has been an influx of listings on the market this spring. The optimism that I think will result from this rate cut could bring more buyers into the market, and lead to higher prices if we don’t continue to see this level of inventory for sale.

📞 If you’re thinking of buying or your mortgage is up for renewal in the next 23 months, reach out. It’s never too early to start preparing.

04/10/2024

📢 As expected, the Bank of Canada (BoC) held the overnight rate today 📢

Tiff Macklem (Bank of Canada Governor) got down to brass tacks today when he said:

“I realize that what most Canadians want to know is when we will lower our policy interest rate. What do we need to see to be convinced it’s time to cut?... The short answer is we are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained. The further decline we’ve seen in core inflation is very recent. We need to be assured this is not just a temporary dip.”

He also stated that a rate cut in June is “within the realm of possibility”.

Key things to know:

✏️ January CPI: 2.9%
✏️ February CPI: 2.8%
✏️ March CPI: not yet known

The BoC’s target is 2% with a 1% variance in either direction.

By the June 5th rate announcement we will have CPI data for March and April which could influence the BoC to make their first rate cut.

US inflation news today was not so positive. Their inflation numbers are up and their economy is still going atrong. I’m curious to see how this plays out. If the Canadian central bank cuts rates and the US Fed does not it will weaken our dollar which is inflationary… 🙃

📞 If you’re feeling financial stress, you’re not alone. Refinances are on the rise, in spite of current rates because people are feeling the pinch and are unable to hang on or “ride it out” any longer. If this is you, please reach out so we can make a plan to give you some breathing room.

03/22/2024

🏠 Your renewal isn’t just about asking “what’s the best rate”. It’s an opportunity to re-evaluate your situation and make changes as necessary.

It’s a competitive market right now and lenders are getting fierce, but as long as your mortgage is in good standing and you’re prepared, your renewal doesn’t need to be cause for concern.

To help you prepare, here are 4 red flags to watch out for as your mortgage renewal approaches:

🚩 Your lender doesn’t send your renewal offer at least 90-120 days before your maturity date - one retention strategy I’m seeing from lenders is they wait until the last minute to send you a renewal notice, hoping you won’t have time to look into other options.

🚩 Your lender only offers you a 5-year fixed or variable rate - many borrowers don’t realize you can ASK for shorter terms (they’re hoping you don’t think of that).

🚩 Your lender offers you an “early renewal special” - this is usually accompanied by a tight deadline ie: “you have 48 hours to accept this offer or it expires”

🚩 Your lender offers you rates that aren’t competitive hoping you either can’t qualify with another lender so you’re stuck with their offer or that you won’t think to look elsewhere.

Still have questions about renewing in 2024? Comment below or DM me!

02/20/2024

📢 Inflation dropped to 2.9% in January.

Here’s what you need to know: ↓

✔️ CPI is down from 3.4% in December.

✔️ According to Stats Can the greatest contributing factor was the drop in gas prices.

✔️Grocery prices also dropped.

✔️ Homebuyers want to know when the BoC will cut the overnight rate – this is a step in the right direction. They want to see inflation sustainably approaching their 2% target.

✔️ Economists predict rate cuts to start sometime summer 2024.

Once rate cuts happen more buyers will enter the market and competition will pick up – get pre-approved now!

🤔 What do you think, when will the BoC make their first rate cut? Let me know in the comments.

02/05/2024

🚘 How is your car loan impacting your house budget?

For many, having a vehicle as their main mode of transportation is a necessity more than a luxury. City living can provide greater access to user-friendly public transit but for most, having a set of wheels is essential.

It’s no wonder that there are currently about $3.59 billion in auto loans in Canada with the average monthly payment coming in between $400-$800. That’s a lot of vehicles, if you think about it. 🤔

Looking through a mortgage lens, we know that having monthly installment loans can impact your overall borrowing power. The higher your car’s monthly payment is, the less mortgage you’ll qualify for.

➡️ Swipe to see the impact your car payment could be having on your house budget.

Reach out to talk strategy if you’re planning to buy or renegotiate your mortgage this year.

01/18/2024

📢 December’s inflation data was released this week and the numbers are higher than we had hoped.

The Consumer Price Index (CPI) rose to 3.4% last month (up from 3.1% in November and October).

📈 While this is a huge improvement from the peak of 8.1% in June, 2022, we still haven’t settled into the 2-3% range the Bank of Canada (BOC) is aiming for.

While some yo-yo-ing was expected on the way down, this increase has markets pricing in a BoC rate cut later in 2024 than originally anticipated. A few weeks ago the expectation was a rate cut in April, and that has now been bumped to June.

📆 The BoC makes their first announcement of 2024 next week (January 24th). Stay tuned to hear whether they increase, hold or drop the overnight rate.

As always, I’m here with answers so drop your questions in the comments. ⬇️

12/22/2023

🏆 This was three weeks ago and I’m still in shock. At our safebridge holiday party I was given the Be Orange award and I’m truly honored!

This award is voted on by the entire team and is given to the person who embodies SafeBridge’s core values (Experience, Growth, Together). 🥰

You can tell by my awkward face how surprised I was and yet I couldn’t be happier. From day one the SafeBridge team has welcomed me in, offered endless support and inspired me to rise up and be my best, every single day.

Thank you to my teammates who voted for me and to the leadership team who inspire us daily.

I won’t take this honor lightly. You can look forward to seeing this orange jacket a lot more in 2024*.

*styling tips for very oversized blazers welcomed.

12/19/2023

💥 You’re going to want to save this to refer back to throughout 2024.

✔️ BOC rate announcements are made 8 times per year, always on a Wednesday at 10:00am EST.

*Monetary Policy Report published on these dates.

🤞While the rate announcements in 2023 were fraught with anxiety for many, 2024 has potential to be more forgiving.

Stay tuned.

Address

12-25 Scarsdale Road
Toronto, ON
M3B2R2

Telephone

+14165284809

Website

http://caitlineason.com/

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