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2010, 2021

2021 Election Promises: Housing Policies

October 20th, 2021|Market Updates|0 Comments

A few weeks ago we had a Federal Election. Throughout the election campaign, many promises were made from all parties for housing policies that would go into place in the short-term future. Justin Trudeau and the Liberal Party ultimately won the re-election with a minority and 160 seats. The win propels Justin Trudeau into his 3rd term

2909, 2021

Why You Should Choose GLM Mortgage Group

September 29th, 2021|First Time Home Buyers|0 Comments

Many homeowners will start off renting and will eventually enter the real estate market with a purchase of a home – it is an overwhelming, exciting, and rewarding journey. And once we own a home, we will then go through the transfer/switch/refinance process when the mortgage term is up. This process can be hard to navigate, which

3108, 2021

How Inflation is Affecting Mortgages Today

August 31st, 2021|Market Updates|0 Comments

  Inflation rate and Mortgages in Canada  Since the beginning of 2021, inflation rates have been coming in at unprecedented levels.  Last week, Canada’s inflation rate came in above expected and was at its highest rate in over a decade. The inflation rate came in at 3.7%, above the average of about 2%.  It has been three

2107, 2021

A More Stabilized Market

July 21st, 2021|Uncategorized|0 Comments

Since the beginning of 2021 house prices have been rising exponentially.  In June, a Canadian Real Estate Association report indicated that the average selling price of a home in Canada had fallen for the second consecutive month. In the next two months with restrictions easing, Canadians are feeling more relaxed and ready to become more social

2605, 2021

Changes to Stress Test – June 1st Onwards

May 26th, 2021|Uncategorized|0 Comments

Recently, there has been approved changes to the stress test released by the government that come into effect on June 1st. The Bank of Canada benchmark qualifying rate will increase from 4.79%  to 5.25%. The changes will be for all mortgages.  This includes;  Insured mortgages Insurable mortgages Uninsurable mortgages When looking at borrowing power, these changes will

2904, 2021

Proposed Changes to the Stress Test

April 29th, 2021|Uncategorized|0 Comments

Recently, there have been proposed changes to the stress test released by the government that would come into effect on June 1st. If the changes go into effect, the Bank of Canada benchmark qualifying rate will increase to 5.25%.  If the changes go into effect, it will be for uninsurable mortgages only. Uninsurable mortgages are any mortgages

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