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Bank of Canada Governor Tiff Macklem warned the housing market is not normal, as he released new research that suggests real-estate prices in some of the country’s biggest cities are being driven by a speculative frenzy. The central bank singled out the Greater Toronto Area, Hamilton and Montreal as experiencing worrisome signs of extrapolative behaviour, which is the way Macklem and other policy-makers describe market dynamics they see as out of line with the fundamental...s of supply and demand. Source: Financial Post #realestate #housing #property #properties #canada #housingmarket #greatertorontoarea #hamilton #montreal #mortgagebrokers #mortgagerates #mortgages

My morning read today: Five dimensions of Win/Win #1 Character 2nd trait: Maturity "Maturity is the balance between ."... I-Win-You-Lose paradigm: If I am high on courage and low on consideration, I’ll be strong and ego bound. I’ll have the courage of my convictions, but I won’t be very considerate of yours. I-Lose-You-Win paradigm: If I’m high on consideration and low on courage, I’ll be so considerate of your convictions and desires that I won’t have the courage to express and actualize my own. (My feedback: like a mom). I-Win-You-Win paradigm: High courage and consideration are both essential to Win/Win. It is the balance that is the mark of maturity. If I have it, I can listen, I can empathically understand, but I can also courageously confront. Stephen R. Covey, 7 : (New York: Fireside, 1990), 217-219. #winwin #paradigm #maturity #the7habitsofhighlyeffectivepeople #foodforthought #salestips #mutualsuccess

Canada’s home sales and price growth will moderate over the coming years from the unsustainable levels of 2020, but remain elevated, with housing starts expected to stabilize by the end of 2023, the national housing agency said on Thursday. While the pace of price growth is expected to ease as mortgage rates increase and buyers face already high prices, home prices could climb 14.4 per cent on average in 2021, the Canada Mortgage and Housing Corporation (CMHC) forecast in its... spring market outlook. Source: Financial Post We offer 0.99% on five-year variable high-ratio insured mortgage. Pre-approve: MortgageMaurice.ca/apply #realestate #propertymarket #housingmarket #economy #mortgages #mortgagebrokers #mortgagerates #variableratemortgages

The trouble with ‘bubble’: Why Canada’s red-hot housing market is defying the burst Economists usually define a market bubble as a sudden rise in price based on obviously implausible or contradictory beliefs. A bubble, in other words, is doomed to collapse under the weight of its own irrationality. By that standard, Canada’s real estate market looks less bubble-like than exuberant. Beneath the frenetic behaviour of the past few months is a market that is reacting predictably... to unusual stimulus. The recent gains in home prices, at least until January, were largely a mechanical response to falling interest rates and tight supply, says Stephen Brown, senior Canada economist at Capital Economics, an international consulting firm. He points out that five-year fixed mortgage rates fell by half between February, 2019, and February, 2021. For buyers who exceed government down payment requirements, the decline in borrowing rates boosted the price they could afford by 22%. Source: The Globe and Mail #realestate #propertyprices #housingmarket #mortgagerates #mortgages #mortgagebrokers #economy #bubble

Why Canadians should brace for higher mortgage rates sooner than expected Low mortgage rates won’t last forever! - Maurice Kwok Previously, the Bank had forecast that slack in the economy would not be absorbed until 2023. Now it expects that to happen some time in the second half of 2022.... The reason is a much brighter view of the economy. The Bank hiked its growth forecast for 2021 by more than two percentage points to 6.5%. It’s now predicting 3.7% in 2022 and 3.2% in 2023, an outlook rosier than many economists. #mortgagerates #fixedratemortgages #variableratemortgages #realestate #economy #economicgrowth #mortgagebrokers #mortgages #housingmarket #propertymarket #lowmortgagerateswontlastforever

Variable Rate Mortgage 5-Year closed term high-ratio insured (down payment 5-19.9%) 0.99% (Prime - 1.46%) 1. Owner-occupied ... 2. Closing within 120 days 3. Good credit 4. Proof of down payment 5. Income qualified 6. Conditions apply 7. Rate subject to change without notice. 8. Live deals only. Principal and interest payment: $377 p.m. per $100,000 mortgage 416-618-9312 (Cell) MortgageMaurice.ca (Web) Online application: https://mortgagemaurice.ca/apply [email protected] #mortgages #variableratemortgage #mortgagebrokers #mortgage #mortgagerates #firsttimehomebuyers

Canadian housing market: Low supply is not the problem Demand +++ > Supply + Housing listings are running 25% above pre-COVID norms. Sales, however, are running almost 75% above that level. ... Reasons: 1. The promise of low-for-long interest rates, 2. Engrained expectations of price growth, 3. Fear of missing out, and 4. Likely some speculation. Source: The Globe and Mail For online secure Velocity pre-approval: MortgageMaurice.ca/apply #realestate #housingmarket #propertymarket #mortgages #mortgagebrokers #mortgagerates #preapproval #supplyanddemand

Toronto home sales and prices reached new highs in March, blowing past the previous record set during the 2016 real estate boom, with the city’s condo rebound gaining steam and demand continuing for houses in the city and nearby suburbs. There were 15,652 home resales last month, according to the Toronto Regional Real Estate Board (TRREB). That was nearly double the volume of March, 2020, when initial pandemic measures halted open houses and abruptly depressed sales and ...prices. Source: The Globe and Mail Online Pre-approval: https://mortgagemaurice.ca/apply #homesales #propertymarket #housingmarket #realestate #economy #Totonto #GTA #mortgages #mortgagebrokers #mortgagerates

Annual Easter Sale * Income & credit qualified, conditions apply, rate subject to change without notice.

The Canadian economy showed resilience over the winter months, managing to escape the second wave of COVID-19 without a decline in overall output. Heading into the winter, the fear was that economic output would fade somewhat on account of rapidly rising COVID-19 cases that prompted tighter restrictions. #impendinglockdown

Booming housing market lifts Canadians' confidence to a new record Canadian consumer confidence rose to a new record last week as vaccine rollouts accelerate across the country and the nation’s housing market booms. The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on household surveys, jumped last week to its highest reading since polling began in 2008.... Craig Alexander, Chief Economist at Deloitte Canada, talks with Financial Post’s Larysa Harapyn about why Canada’s economy still needs stimulus spending. https://lnkd.in/epiUHQB #economyrecovery #economicgrowth #2021budgetspeech #economy #housingmarket #realestate #mortgages

A happy client says ... #clientestimonial #happyclient #happycustomer #mortgagebroker #mortgagemaurice #GTA #housingmarket #happyclientseries #Toronto #realestate

Ontario Finance Minister Peter Bethlenfalvy unveiled a budget Wednesday that includes billions of dollars to keep battling COVID-19, but also outlines his government’s approach to fixing its finances as the pandemic recedes an approach he insists will not include new taxes or funding cuts. The province’s second pandemic budget projects a $33.1-billion deficit in 2021-22, shrinking from the record $38.5-billion worth of red ink caused largely by spending to fight COVID-19 in... 2020-2021. The government expects the economy to rebound this year, as it gradually reduces its extraordinary spending on the pandemic. It anticipates its deficit shrinking to $27.7-billion in 2022-23 and $20.2-billion the following year. Read more: https://lnkd.in/dtXeGTw #economyrecovery #financebudget #postpandemic #finance #stressoneconomicgrowth #realestate #housingmarket2021 #deficit

Welcome to the small city housing frenzy, where Toronto and Vancouver real estate tactics have become the norm. There are no home inspections and no conditional offers and bids are routinely well over asking. Read more: https://lnkd.in/dvDadac #realestate #propertymarket #housingmarket #ontariorealestate #mortgages #mortgagebrokers #mortgagerates