Matthew Gee RBC Mortgage Specialist

09/12/2024

The Bank of Canada’s rate cuts have yet to pull housing markets out of their slump. Markets’ reaction so far has been largely muted. Early reports on August home sales showed only small increases from July in most markets, including Vancouver, Calgary, Edmonton, Toronto and Montreal.

The Bank of Canada’s rate cuts have yet to pull housing markets out of their slump. Markets’ reaction so far has been largely muted.

06/05/2024

For homeowners and prospective buyers in Canada, the interest rate cut is welcome news – but what does it really mean for you? Whether you’re looking to buy your first home, on track to renew this year or have a variable rate mortgage, the current interest rate environment matters. Here, we explore the impact of the interest rate cut on Canadians already in or about to enter the real estate market.

The June 5th Bank of Canada interest rate announcement has been highly anticipated as Canadians hoped the BoC would finally cut interest rates. And ultimately, they did. As was widely expected, interested rates came down 25 basis points to 4.75%, marking the first time in 4 years that rates have dec...

05/21/2024

Canada will allow 30-year amortization for first-time buyers’ mortgages. Finance Minister Chrystia Freeland said the government would allow the amortization period on insured mortgages for first-time homebuyers purchasing newly built homes. The measure will take effect on Aug. 1. The Canadian Home Builders’ Association has advocated for the longer period, saying five years more would help with affordability and speed up construction. The government also nearly doubled the amount first-time buyers can withdraw from RRSPs to buy a home to $60,000 from $35,000 as of April 16.

The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes.

05/17/2024

Mortgage Renewal Options with RBC.
Whether you're renewing your RBC Royal Bank®️ mortgage for the first time or the last time, I'm here to help with the right mortgage options for your current and future needs.

05/13/2024

Affordability and inflation continue to impact how and when Canadians buy a home. But despite the headwinds people are facing, confidence is rising.
RBC’s 30th annual Home Ownership Poll found that 60% of Canadians under the age of 65 believe owning a house or condo is a good investment (up from 53% in 2023) and 29% are looking to buy in the next two years (up from 22% in 2023).
Click to learn more about RBC’s latest poll.
Whatever your home ownership dream is, I can help guide you through the journey. If you have questions, don’t hesitate to reach out.

05/09/2024

Sellers are making their way back into the housing market—not everywhere but in some of Canada’s largest cities. Statistical reports for April from local real estate boards showed sharp increases in new listings and inventories in Vancouver, Toronto and Montreal. This could reflect a confluence of sellers that include many who took a pass at the fall market (when demand and prices dipped) in the hope of better outcomes this spring. Some of the sellers could be in distress in the face of high interest rates.

Sellers are making their way back into the housing market—not everywhere but in some of Canada’s largest cities. Statistical reports...

05/06/2024

2024 Federal Budget - will you be impacted?

Canada’s recently unveiled 2024 budget proposes to adjust the capital gains inclusion rate. What does this mean for investors and taxpayers? Read on to find out how these changes might affect you.

05/03/2024

Mortgage 101: How much home could you afford?
As you start out on your journey towards home ownership, the first step should be to see how much home you could afford.

As you start out on your journey towards home ownership, the first step – should be to see how much home you may be able to buy