Matthew Ormos Mortgage Agent at Mortgage Centre

03/24/2023

The Bank of Canada has opted to keep its overnight lending rate at 4.50%. While this news will come as a relief, there is a possibility of further rate hikes. The US Federal Reserve signaled this week that it may need to increase its own benchmark rate after reviewing inflationary data, and Canada is usually forced to follow suit to prevent currency depreciation. Contact me for more details!

12/10/2022

The Bank of Canada has increased its overnight lending rate to 4.25%. For those who find their payments unaffordable or overly burdensome, there are solutions available. Contact me for more details!

09/08/2022

The Bank of Canada has increased its overnight lending rate to 3.25%. Many of you with variable rate, FIXED payment mortgages will have your payment automatically increased by your lender next month because you've hit your TRIGGER rate. Your trigger rate is the rate at which your payment amount is no longer large enough to cover the interest that has accumulated over your corresponding payment period. I'm certain that half of you have no idea what I'm talking about so message/call me, and we can discuss this fun fact!

07/13/2022

The Bank of Canada surpassed expectations and increased the overnight lending rate by an entire percentage point. Reach out to me to discuss options if you find yourself overwhelmed by payment increases.

01/16/2022

This house is an hour drive from the city core on a good day. Appreciated over 100% in 28 months with NO CHANGES. Feeling awful for the younger generation as their home ownership dreams slowly fade away.

09/02/2020

If you're stuck in the middle of a five year term with a bloated mortgage rate, give me a call!! I can switch you to a new lender at current, ultra low market rates AT NO COST TO YOU.

03/24/2019

It's about time that a report has come out identifying this problem in the GTA. It doesn't garner nearly enough attention.

More than $20 billion in anonymous money was used to purchase tens of thousands of homes in the GTA.

03/14/2019

Good news if you're looking to buy a home!

Canadian home values fell last year for the first time in three decades amid falling prices in some of the country's priciest markets, even as debt burdens increased.

02/26/2019

https://www.bnnbloomberg.ca/bank-of-canada-s-poloz-says-rate-hike-path-highly-uncertain-1.1217923

Even in the stronger economy, governor Stephen Poloz says the benchmark rate's upward journey to its likely destination range of between 2.5 and 3.5 per cent is highly uncertain.

11/09/2018

If you have a line of credit attached to your primary residence and plan on purchasing a rental/cottage in the near future, read this article! This new rule change will greatly affect your purchasing power. Contact me for more details!

The word is out on a little-known policy change that targets anyone with a HELOC who is applying for a new mortgage.