Jason Lowe Victoria Mortgages

06/30/2022

https://www.thestar.com/business/2022/06/29/blackstone-worlds-largest-real-estate-investor-sees-significant-opportunities-in-canadian-student-housing-multi-family-rentals-and-more.html?rf

Real estate titan says it plans to expand in Canada but avoid single-family homes.

04/05/2022

Here we go..

It’s unanimous: All six of Canada’s major commercial lenders now expect the Bank of Canada to move ahead with a jumbo rate hike next week.

03/02/2022

Not great!!?

Police are warning the public about a mortgage fraud scam after a Canada-wide warrant was issued for a Toronto resident accused of raking in more than $10 million from the alleged scheme, police say

01/23/2022

https://vancouversun.com/opinion/columnists/douglas-todd-as-canada-dithers-about-a-flood-of-house-investors-singapore-pushes-back

Opinion: Singapore announced a 17-per cent surcharge on citizens who buy a second property, as well as other measures to discourage investors. Canada needs to take heed.

10/20/2021

https://www.facebook.com/109168402464478/posts/4461534567227818/

Statistics Canada says the annual pace of inflation picked up in September to reach its highest level since February 2003. The agency says its consumer price index in September was up 4.4 per cent compared with a year ago. The reading compared with a year-over-year increase of 4.1 per cent in August...

06/09/2021

https://www.bankofcanada.ca/2021/06/fad-press-release-2021-06-09/

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

02/20/2021

https://www.facebook.com/100000520658222/posts/4365063520187627/

Canadians binged on mortgage debt last year, increasing borrowing at the fastest pace in a decade to buy homes.

10/28/2020

https://www.facebook.com/121532344586352/posts/4950069191732619/

The Bank of Canada announced today that it is keeping the overnight rate steady at 0.25%. It is expected the Bank will keep this target unchanged until well into 2023 to aid our economic recovery. The Canadian economy is in recession with negative GDP growth, inflation is at zero, the Canadian dollar relative to the U.S. is stable at around $.76, oil prices are hovering around $40 - $43 U.S./barrel and unemployment is currently at 9%, another marked improvement from last month.

According to StatsCan and CMHC, 75% of the almost $200 Billion of mortgages that were deferred were from Canadians that are still working and took the deferral as a precautionary measure. This would support the argument that the massive wave of defaults on mortgages previously expected is likely to be avoided this winter. In addition, unemployment has been forecasted to rebound to 7.5% by the end of 2021.

Cam Strong, CEO of Invis Mortgage Intelligence stated “Most economists agree personal debt levels will likely worsen in 2021 and the hospitality sector will face record bankruptcies or closures. However, record low mortgage rates should continue to support our housing industry along with an improving employment outcome in 2021.”

Canadians have record high mortgage and consumer credit debt of $2.5 trillion according to Statistics Canada as of September, 2020 however, thanks to the Bank of Canada, the servicing costs on this debt is very low.

The next rate-setting day is Wednesday, December 9th.

With this stable, low interest environment it’s never been a better time for qualifying homeowners to refinance to consolidate debt to improve cash flow, save interest costs and protect their credit scores. Always get advice and a personal assessment of your situation if you need a new mortgage or want to change your current mortgage strategy.

09/18/2020

Interesting Read..

https://ca.finance.yahoo.com/news/so-many-young-adults-living-with-parents-will-have-serious-consequences-for-financial-markets-deutsche-bank-203916555.html

06/04/2020

This will slow the market down. IMO.

The agency also said it would work to curb the practice of borrowing money for down payments.

03/30/2020

Another drop!

It’s official, Canada’s prime rate will fall to 2.45% following the Bank of Canada’s emergency rate cut on Friday.