August long weekend - you comin’ ? ☀️🎶🤠

For your mortgage knowledge database 🤓

Save this date 👇 Our next interest rate decision is on June 7. bit.ly/45HOKOK #cdnecon #economy

We welcome the appointment of Minister Sean Fraser to Housing, Infrastructure and Communities. This is a critical time for federal leadership on housing affordability. Statement from our President & CEO Lauren van den Berg on today’s cabinet shuffle⬇️

Thank you Mortgage Professionals Canada (MPC) 🇨🇦 ! #findmethere

Brokers 🤝 lenders Mortgage brokers work directly with lenders to provide the best product for you, not only for today, but for the entire lifetime of the mortgage. Have questions? Visit findmeabroker.ca to find a broker near you today.

Residential #mortgage activity is down 25% from 2022 and nearly 30% compared to 2021. In another major shift, 95% of new mortgages in Canada are now fixed-rate, but is it now time to start considering a variable rate again? canadianmortgagetrends.com/2023/11/mortga…

I can’t even stand it 💘💗😍

It's "still too early to consider cutting our policy rate," says Bank of Canada Governor Tiff Macklem. canadianmortgagetrends.com/2023/12/still-…

trick shots

6 big 🇨🇦banks mortgage growth from 2013 to 2023: • Ontario:⬆️102% $367B to $742B • BC:⬆️83% $148B to $271B • Prairies (AB, SK, MB):⬆️28% $158B to $203B • Quebec:⬆️57% $101B to $159B • Atlantic (PE, NL, NB, NS):⬆️66% $33B to $55B ON & BC's soaring mortgage debt raises

After a dozen-year hiatus, 30-year insured amortizations are back—this time with strings attached. The move will boost new build prices a bit, but incentivizing new supply always comes with costs. Will report back as the details roll in...

3 in 4 are good odds 🤓

Will he or won’t he? ⚖️↕️

Edmonton Home Prices May 2024: wowa.ca/edmonton-housi… • Benchmark price: $399.9k +6.1% ⬆ yearly & +1.1%⬆️monthly • Avg home price: $441,350 +5% ⬆ yearly & +2.3%⬆️monthly • Sales: 3,220 +18.4%⬆️yearly & +2.9%⬆️monthly Edmonton is still much more affordable than other 🇨🇦

Love this analysis and breakdown. Please reach out for OTHER options. I feel like these numbers reflect that borrowers just don’t realize there can be smarter options than just their own Bank. Not good to have all Canada’s residential eggs in only 7 baskets. 🧺

Variable Rate mortgages definitely made for some haters in the last 2 years, but it is likely their time to shine again ⬇️

Amazing News A Sensible move 🏠

Interesting! Lots of things to think about here - but if used as intended …. it’s a step.

BREAKING: The Bank of Canada has cut its policy rate by another 25 bps, bringing it to 3.00%. Prime rate at most lenders is expected to drop to 5.20% (except at TD, which maintains a mortgage prime rate priced 15 bps higher). #BankofCanada #InterestRates #MortgageRates