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Here’s CMHC’s Housing Market Trend Predictions For 2020 The two-year slowdown Canada experienced in the housing market is now officially over. That declaration from the Canada Mortgage and Housing Corporation (CMHC) who released a comprehensive report on the national outlook. While potential buyers already took inspiration from the news of ongoing low interest rates for the 2020 year, the market continues to rally through 2019 with strong monthly housing starts which show no ...sign of decreasing in 2020. Since the federal election, Canadians have yet to witness the fall-out of a Liberal win. Here are three anticipated trends according to the CMHC: 1. Canadian Sales will crest between 2020 and 2021 Real estate brokers across Canada remember the crash of 2018. With the market showing signs of recovery in 2019, the pendulum is swinging towards the plus sign. Sales surges in B.C. and Ontario are predicted to happen through to 2021. In part this can be accounted for by disposable income increases that are expected to occur within the two provinces. With key markets in Canada accelerating, its place in the global home price marketplace is sure to rise. 2. Rising House Prices The Canadian housing market has finally come out of its slumber since the imposed stress-test halted market progress. Just as sales took a hit, so home price growth was slow rising. However, it is expected to improve most dramatically in Ontario and Quebec. By 2021, the B.C. Market will push Quebec into third place for price growth. Aside from the high-performing provinces of Quebec, Ontario, and B.C., the other provinces are expected to make modest gains but no decreases. 3. New Builds Will Plateau While Canadian home building hit a 10-year high in 2017, it’s been on the decline since. The CMHC says the total number of homes that started construction in 2019 is about the same ballpark total we should expect for both 2020 and 2021, in line with the historical average for annual home construction. While a strong economic outlook coupled with a strong labour market makes construction on new projects a likely possibility, CMHC warns that household formation will slow during this period. With recovery mode in full force, it appears Canada’s markets will remain on the upswing for the next couple of years at least.

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New to Canada Mortgages If you are new to Canada and need a mortgage to finance a home purchase, there are several steps you must take and supporting documentation you may need to provide. The type of mortgage you will qualify for, and what documentation you’ll need to provide, depends on whether or not you are a permanent resident, what your credit rating is and how much you have saved for a down payment. Need More Info: Call ProTEAM MORTGAGE,

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#Market Update November 2019 had an increase of 14.2% in sales compared to November 2018 and a price increase of 7.1%.

As a Mortgage Agent at Mortgage Squad, I will listen to your needs and work together with you to design a mortgage that fits your specific situation. The decision will benefit you not only today but well into the future. I will put my skills and experience to work, to ensure you receive not only the lowest discounted rates but I will also guarantee that you are placed with a lender that provides you with superior options and features. With access to over 50 lenders! There is ...a world of endless possibilities out there. I deal with most major Canadian Banks, Credit Unions as well as many private lenders who help fill the areas where banks will not go. Previous Bankruptcy, bruised credit or maybe you’re just not sure where you stand, we can help! Whether you're looking for your first mortgage, simply restructuring or consolidating your finances call now! I give you THE POWER TO CHOOSE, the pride of home ownership and financial freedom is just around the corner.