Mortgage Minder
1995 Cliffe Ave. Unit #104

This is a bit of a read but takes the view higher, https://www.bnnbloomberg.ca/pandemic-era-central-banking-is

For those who don’t know already. I have started a new career as a Realtor with Royal LePage In the Comox Valley and Fisher-Smith & Associates Royal LePage in the Comox Valley If you have any questions or would like to talk about your next home call me at (250) 218-4378

Interesting article.

Discussions of real estate are often simplified to covering topics of finances and paperwork. But your property is not just a commodity, it’s your homeand home... is where our lives happen. It’s where we heal when we are heartbroken; it’s where we make decisions that impact our future; it’s where we make our most intimate memories with family and friends. Selling your house involves more than signing on the dotted line. It’s also about respecting and honouring the impact your home has had on your life, even while you look ahead to a different future. It can be exciting to move on, like when you’re purchasing a bigger home for a growing family, but it can also be a time of difficult transition, like when it’s necessary to downsize for health reasons. Regardless of why you’re moving on, the memories you take from your home will forever be a part of you. My desire for you is that the selling process be as stress-free and enjoyable as possible, which includes getting the best price for your property and guiding you efficiently through the process. I would love to walk this journey with you, and it would be my privilege to honour the memories you made in your home as we navigate the selling process together. Sincerely, Aaron Kuehl

Bank of Canada holds benchmark rate steady, updates economic outlook Dec 9, 2020 This morning in its 10th and likely final policy decision of 2020, the Bank of Canada left its target overnight benchmark rate unchanged at what it describes as its "lower bound" of 0.25%. As a result, the Bank Rate stays at 0.5% and the knock-on effect is that borrowing costs for Canadians will remain low for the foreseeable future. ...Continue reading

Residential Market Commentary - Strong market despite consumer concerns Nov 30, 2020 Be the expert First National Financial LP... The reports and realities continue to appear at odds. Home sales and prices remain strong, while surveys suggest debt and other money worries remain top of mind for many Canadians. October saw a resurgence of COVID-19 cases across the country and a corresponding return to tighter health-related restrictions and closures. Still, home resales jumped to another record-setting, monthly high with a nearly one-third increase (32.1%) over a year ago. Although there was a slight (-0.7%) slip from September. The national average price for a home topped $607,000, up 15.2% over last October. With Toronto and Vancouver calculated out, the national average price rose to $480,000, a 19.5% increase year over year. At the same time, the annual Debt Survey by one of Canada’s big insurance companies / banks suggests one-third of Canadians (35%) were financially unprepared for the pandemic. That appears to have led to a substantial amount of anxiety about homeownership. The survey indicates more than a third of respondents (36%) have significant worries about saving for a home. It suggests many feel they have been or are about to be priced out of the market. It says, on average, Canadians have been allocating nearly half of their income to essentials like food and housing since the pandemic started. Fifty-eight percent of homeowners and 54% of renters worry about making their payments. There is a sharp disparity that shows up in the survey as well. More Canadians report being debt free 27% compared to 21% last fall. Over the same period, the average savings rate has climbed to 16% of after tax income, up from 14%. But nearly a quarter of respondents report saving zero after tax income since the pandemic started. And, those who are in debt appear to be having a harder time. Nearly a quarter say everyday living has caused their debt. According to the survey nearly half of indebted Canadians say their debt is having a negative effect on their mental health. More than a third say their debt keeps them awake at night.

Bank of Canada holds benchmark rate steady, continues large-scale asset purchase Sep 9, 2020 Be the expert First National Financial LP This morning, the Bank of Canada left its target overnight benchmark rate unchanged at what it previously described as its lower bound of percent. As a result, the Bank Rate remains at percent....Continue reading

GENWORTH MI CANADA INC. CONFIRMS THAT IT DOES NOT PLAN TO CHANGE ITS UNDERWRITING POLICY June 8, 2020 TORONTO, June 8, 2020 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements. One of the Company's competitors announced changes to their internal underwriting guidelines with respect to the aforementioned underwriting cr...iteria on June 4, 2020. "Genworth Canada believes that its risk management framework, its dynamic underwriting policies and processes and its ongoing monitoring of conditions and market developments allow it to prudently adjudicate and manage its mortgage insurance exposure, including its exposure to this segment of borrowers with lower credit scores or higher debt service ratios," said Stuart Levings, President and CEO.