Mortgage Alliance

Sales-to-new listings ratio is a common metric used to determine the type of market we are in. Generally ratios between 40% to 60% are considered balanced, whereas ratios below 40% are considered a buyer's market and over 60% depicts a seller's market. As of February 2019, the sales-to-new listings ratio is 51.6% in Toronto. This data suggests we are in a balanced market. The Toronto market has stabilized over the past year and it might be the right opportunity to jump back i...nto the market since the stress test has been introduced in January 2018. https://www.livabl.com//canadas-best-buyers-markets-housin

Yesterday our government had their budget meeting. There's a lot of plans for change to our housing market. CMHC plans to roll out a new shared equity program in September that effects those with insured mortgages (under 20% down payment). For new builds, they could take a 10% equity stake in your home and for existing homes, 5%. In order to be eligible, you must have less than 20% down payment and be a First-Time Home Buyer. You must earn less than $120,000 gross annual inco...Continue reading

We are currently in a balanced market. Neither a seller or buyer's market. https://www.livabl.com//3-key-predictions-canadas-spring-2

Strong population growth deriving from historically high future immigration targets coupled with Bank of Canada holding the overnight lending rate are keeping the housing market afloat. https://www.livabl.com//demand-borrowing-costs-canadian-ho

Toronto home prices have risen year over year. In particular, condos and semis rose, while detached homes fell. Going forward, we should expect modest gains of 3 to 5 percent a year. https://www.thestar.com//home-prices-rise-16-per-cent-in-f

Bank of Canada rate hikes are unlikely in 2019. Currently, it is predicted we will see at worst 1 rate hike in the second half of 2019 and at best with a small sliver of chance of a rate drop in 2019. 5-year fixed rates may continue to drop as they have been in the past 3-4 weeks. https://www.canadianmortgagetrends.com//boc-turns-dovish-/

Let's hope these changes to the Growth Plan happen sooner, rather than later! https://torontosun.com//bild-proposed-changes-to-growth-pl

In the past year, we all know housing affordability has been a big issue. There have been a lot of discussion around increasing buying power for Canadians. The benefits of this will be short-lived. The real issue here is supply and the government needs to step in and support this change! https://www.canadianmortgagetrends.com//homeownership-rat/

When are you looking to buy your first home? This will help you determine if your money is better sitting in a TFSA or RRSP prior to your purchase. https://www.livabl.com//rrsp-tfsa-best-investment-tool-can

For those who may have heard rumours of the stress test being extended to your private mortgage, read the article below! https://www.bloomberg.com//morneau-not-considering-new-rul

Buying a home soon or looking for ways to improve your credit score? https://www.livabl.com//first-time-homebuyers-guide-buildi

Let's hope for a revision to the current stress test in the near future! https://ottawacitizen.com//19ec1c3d-5103-4bd2-bd7e-07a3b1e

Sales in the GTA are picking back up in 2019. https://www.livabl.com//surging-new-home-sales-hint-normal

Do you live in one of these areas or you're looking to move there in the near future? Then check these staggering numbers! Ottawa-Carleton, Cambridge, Oakville-Milton, Kitchener-Waterloo, London-St. Thomas, or Brantford https://www.livabl.com//home-sales-growth-several-ontario-

Are we in another bubble? See 3 reasons why we're unlike our neighbours down south. https://www.livabl.com//3-reasons-high-household-debt-cana

Average price of a GTA home is close to 2017 all-time highs. Mostly due to the condo market https://www.livabl.com//toronto-home-prices-2017-highs.html

The real estate market in the recent years has been quite the roller coaster to say the least. Take a look at these charts that will surely give you a shock! https://www.huffingtonpost.ca//10-charts-canadian-housin/

When making a real estate purchase, do your due diligence and take measures to identify if your vendor is a non-resident of Canada. Otherwise you could be left with a tax bill equivalent to 25% of the purchase price! https://business.financialpost.com//buyer-beware-how-purch

In every market, lies an opportunity. Identify the problem and the opportunity will present itself. It's up to you to capitalize on it. With housing prices dropping and 5 year fixed rates lowered, expect many opportunities to invest in 2019 https://www.huffingtonpost.ca//home-sales-canada-decembe/

First-time home buyer? Here are a few tips to help you through what can be a stressful time! https://www.livabl.com//first-time-buyer-fomo-tips-keep-ho

Great news!! RBC cuts 5-year fixed mortgage rate. The other mortgage lenders are expected to follow in the coming days or weeks! Expect the Bank of Canada to ease on rate hikes for the first half of this year, but rate hikes are still expected in the second half of this year. Take advantage of rates now and lock-in pre-approvals for your purchase before summer hits!... https://www.theglobeandmail.com//article-rbc-cuts-5-year-/

Expect Toronto rent in 2019 to continue to rise. Buying opportunities will present themselves throughout 2019 and 2020 with prices stabilizing. Don't time the market - Buy and hold for the long term! https://www.bnnbloomberg.ca/why-2019-could-be-one-of-toront

House prices are stagnant. Interest rates are up and will continue to go up. First Time Home Buyers are having difficulty getting their foot in the market and it will only continue to get harder! https://www.cbc.ca//house-prices-affordability-income-1.49

Great news for those looking to get their foot into the market or for those renewing early in the new year! Bank of Canada held their interest rate at 1.75% and they may be holding that rate until spring! https://www.livabl.com//next-canadian-interest-rate-hike-m

This is amazing. We have so much plastic waste, but now we have a solution to not only recycle it, but build homes for the homeless as well. Win-win

Expect further rate hikes in 2019! Remember, you can always lock in your rates 120 days prior to renewal or your purchase. https://www.mortgagebrokernews.ca//economic-indicators-poi

I'm open again for business Moved from one team within Mortgage Alliance to another! My website is up and running again, finally!! http://www.raymondchong.com/

Average rent in Toronto is a staggering $2,385/month!! What's even more astonishing is 1 bdrm condos downtown are $2,300/month! https://www.mortgagebrokernews.ca//toronto-condo-shortage-

A shift in trend from residential to commercial? Consider where to place your next investment! https://www.mortgagebrokernews.ca//commercial-sector-thriv

My website isn't currently working at the moment as I am in a bit of a transition between brokerages. Sorry, but it will be back up soon!

Forecast: Stability in the GTA market in 2019 https://www.livabl.com//toronto-housing-market-enter-perio

Do you have a HELOC in place and you want to purchase another home? Read this! New bank policies may be an obstacle for you. https://www.canadianmortgagetrends.com//new-rule-targets-/

Where other markets are slowing down or stabilizing, Ottawa's still going on strong. https://www.livabl.com//historically-affordable-canadian-c

Looking for someone you can TRUST to handle your valuables with CARE. Look no further, Macho Movers will take care of you and your family. Fast, easy and seamless transition from your previous home into your new home

Looking to move to Vancouver anytime soon? Thought with the recent drop in housing prices there make it affordable? Think again! https://www.zoocasa.com/blog/bc-income-gap/

Good news for those looking for a mortgage this summer! Bank of Canada Expected To Hold Rates Next Week based on recent economic data. For the full story: ... http://ca.investing.com//bank-of-canada-expected-to-hold-r See more

Are you looking to buy a house in the future? Maybe this upcoming spring/summer? Even if it’s a year or two down the line, let’s talk! I want to help set you up for the best financial position you can be in when it comes time for that big purchase. It’s never too early to consult about your future =) Did you know if you have a renewal coming up within the next 120 days, you can start locking in your rates now? If you’re looking to purchase a home, you can lock in rates within... 120 days as well. We’re expecting two more rate hikes this year so interest rates are on the rise. In the unlikely case that rates drop, you can float down from your locked in rate. Take a look at the rate sheet for the current rates I have available from my lenders. Raymond Chong Mortgage Agent - M18000733 Mortgage Alliance Performance Group Lic# 12070 (519) 400-5264

We were able to get by without another rate hike, but we're still expecting further rate hikes by year end or even this summer! http://business.financialpost.com//bank-of-canada-holds-ke

I just got my business cards! A lot of work and meticulous attention to detail went into it. It’s like my baby. I think the biggest hurdle ahead will be finding clients and building my clientele base. Everyone knows the best way to market yourself is through word of mouth. By servicing my clients well and getting them the right mortgage at the best rate, it will only be a matter of time. I want to reward my friends that support me in this early stage of my career. I’m lookin...g to offer incentives of $100 Gift Cards to a variety of stores including Amazon, Canadian Tire, iTunes, you name it! I may be able to get a hold of some Raptors tickets as well. If you’d like to know more details, just send me a message! Raymond Chong Mortgage Agent - M18000733 Mortgage Alliance Performance Group Lic# 12070 (519) 400-5264

Need advice on a mortgage for a new home purchase, renewal, refinance, bridge, secured line of credit, or reverse mortgage? Please send me a message and let me help you out! A home is the biggest purchase in one’s life and I want to help you make an informed decision. I want you to have full confidence and the necessary knowledge going into your mortgage product whether you obtain a mortgage through me, a bank or anyone else. And if you already have an existing mortgage, let ...me help you scout out the best rates available to you when it comes time for renewal. With over 15+ lenders to choose from, you can be sure you’re getting the most competitive rate on the market! Sometimes you need a little extra cash on hand, whether it’s for that upcoming renovation to bring you one step closer to your dream home or a large unexpected expense. You may be able to take some equity out of your house to help you with these expenses. Every situation is unique and different and requires attention to detail and care. Send me a message, no strings attached! Let me help you! Raymond Chong Mortgage Agent - M18000733 Mortgage Alliance Performance Group Lic# 12070

I think there's a lot of misconception out there when it comes to mortgage brokers and I, myself, was in the same position at one point. Thanks to Fred Chan, he helped me realize the truth and benefits when he assisted me in getting my mortgage approved and has lead me down this career path as a mortgage agent. A lot of people worry about the fees associated with mortgage brokers and this typically won't be applied unless you do not meet the criteria for a prime borrower. A p...rime borrower is generally someone who can get approval at a chartered bank. So then you would ask, why would you go to a mortgage broker rather than a chartered bank? A chartered bank is the lender itself and has mortgage products limited only to what they have to offer. A mortgage broker has access to multiple lenders, and in some cases, the chartered banks themselves. You open yourself to a wider range of products and more competitive rates than what the bank could offer you. I want to be able to help shape and promote the mortgage agent/broker community and give it the customer service oriented, ethical, and upstanding image that it deserves. Raymond Chong Mortgage Agent - M18000733 Mortgage Alliance Performance Group Lic# 12070