Invis - Canada’s Best Mortgage

10/23/2024

The Bank of Canada has announced a 50 basis point reduction in its policy interest rate, bringing it down to 3.75%. This decision comes in response to moderating inflation, now around 2%, and aims to support economic growth. The global economic outlook remains mixed, with strong U.S. growth but subdued expectations for China and the euro area. Domestically, Canada's economy is growing modestly, though the labor market is still soft. Further rate reductions are possible depending on economic data.

For more, visit: Bank of Canada Press Release

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10/08/2024

📢 Exciting Housing Announcements from the Canadian Government! 🏡

On October 8, 2024, Deputy Prime Minister and Minister of Finance Chrystia Freeland, alongside other officials, announced new initiatives to help unlock underused properties and make it easier for homeowners to build secondary suites, all part of the federal goal to build 4 million homes! Here are the highlights:

🔑 1. Mortgage Refinancing for Secondary Suites
Starting January 15, 2025, homeowners can refinance their insured mortgages to build secondary suites!
✅ Access up to 90% of your home’s value, including new suite(s).
✅ Amortize your mortgage up to 30 years.
✅ Increased price limit: Now up to $2 million, allowing broader access to homeowners.
This is a great way to add rental income and increase housing options! 🏘️

💬 2. Consultations on Taxation of Vacant Land
The government is launching consultations with provinces and municipalities about taxing vacant land to encourage its use for housing development. This could lead to more homes being built and land being used effectively!

🏗️ 3. Unlocking Underused Federal Properties
14 more federal properties have been identified as suitable for housing, bringing the total to 70! This initiative aims to support the construction of 250,000 new homes.

The federal government is committed to addressing the housing crisis by using every available tool. These initiatives are big steps towards building affordable homes and maximizing land use across Canada! 🇨🇦

06/21/2024

03/10/2021

Reviewed by Sarah C
"I have the highest regard , respect and appreciation for Brad Speniel whom I had a meeting with a few weeks ago concerning possibility of obtaining a mortgage. He was informative, friendly and professional. I would not hesitate to recommend him and his company. A positive pleasure to deal with and I would gladly do business with him again."

06/04/2020

CMHC has just announced underwriting changes that will take effect July 1st due to Covid-19.

These changes will make it more difficult to buy a high ratio (less then 20% down) home.

Protecting the economic futures of Canadians: CMHC reviews underwriting criteria

06/03/2020

Interesting news from Scotiabank...

Canada's jobs market will post a markedly slow post-coronavirus recovery

04/15/2020

Great read about refinancing your mortgage in today's market.

Mortgage refinancing in Canada is the latest domino to topple in the wake of the COVID-19 pandemic’s impact on our economy. In fact, all forms of mortgage financing have been increasingly more challenging the past several weeks. Fortunately, most purchase transactions already committed to during t...

04/15/2020

Bank of Canada maintains overnight rate at its "effective lower bound"

Central bank also announces new measures to ease pressure on borrowers amid pandemic

04/15/2020

BC provincial supplement to help landlords make mortgage payments.

Funds for eligible tenants will be available until June 2020