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10349
Renalee Reyes Bongolan
Mortgage Agent Level I
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7676 Woodbine Ave. #100, Markham, Ontario, L3R 2N2
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Looking for a pre-approval (when purchasing a new home), renewing (to get a lower rate) or refinancing (consolidating debts into one monthly payment) a MORTGAGE?
CONTACT ME TODAY AT 647.896.1902 TO SEE HOW I CAN HELP!
If you are thinking of buying your first home, next home or a rental property, now is the time to get a mortgage pre-approval and lock in that rate for up to 120 days. This way, you’ll know exactly what you can afford and have your mortgage ready in hand.
I will support you every step of the way from shopping for your home, to making an offer to getting your keys.
I will help you understand the process and ensure that you get personalized advise on the best mortgage solution for you and your needs.
BLOG / NEWS Updates
BMO Survey: Summer Travel Spending Heats Up Despite Economic Concerns
A special report from the BMO Real Financial Progress Index reveals concerns about the cost of living and economic uncertainty have not cooled Canadians summer travel plans, with 62% planning on spending the same amount or more on vacations and travel this summer compared to 2024. Nearly four in five Canadians (77%) plan on travelling this summer, with an average budget of $3,825, which includes the cost of flights, hotels and accommodations, rentals, gas and food.
The survey examined how Canadians are preparing for their summer vacation plans and found:
59% are opting to travel within Canada to save money.
More than half (55%) have altered their vacation plans due to rising costs and inflation.
46% have reduced their spending throughout the year to afford their summer vacation plans.
Nearly a third (32%) admit to compromising their long-term savings to afford travel plans.
The BMO Real Financial Progress Index also explores Canadians summer spending plans and forecasts:
Warming up for wedding season: 34% plan on spending the same amount or more on weddings for family and friends this summer compared to last year. Over half (54%) do not plan on spending on weddings for family and friends this summer.
Storm of celebrations and steady spending: Two in five (39%) plan on spending the same amount or more on special events, including graduations and showers this summer than they did in 2024. Less than half (48%) do not have plans to spend on special events this summer.
Family activity budgets feel the heat: 29% will spend the same amount or more on summer camps and childcare compared to 2024. 61% have no plans to spend on summer camps and childcare this year.
Sawdust and sunshine: 42% will spend the same amount or more on home renovations. 44% do not have home renovation plans during the summer.
Sunny with a chance of splurging: Nearly a third (30%) plan on spending the same amount or more for a large purchase including a home, a car, a boat, etc. 57% do not plan on making a large purchase this summer.
https://about.bmo.com/bmo-survey-summer-travel-spending-heats-up-despite-economic-concerns/
NBC Housing Market Monitor: Residential market improved for the 3rd consecutive month in June
Summary
Home sales increased by 2.8% from May to June at the national level, a third advance following four monthly contractions.
On the supply side, new listings decreased by 2.9% from May to June.
Active listings remained on their upward trend for a sixth month in a row, increasing by 0.6% in June despite still elevated cancelled listings. Overall, the number of months of inventory (active listings-to-sales) edged down for the second month in a row from 4.8 in May to 4.7 in June.
Market conditions tightened marginally during the month but remained balanced compared to the historical average. The balanced market conditions at the national level largely reflect particularly soft conditions in Ontario and B.C., while markets in all other provinces continue to favour sellers.
Housing starts remained roughly stable for a second month in a row (+1.0K) in June at 283.7K (seasonally adjusted and annualized), a print well above the median economist forecast calling for 262.5K units. Starts in both urban (+0.8K to 261.7K) and rural (+0.3K to 22.0K) areas were roughly flat during the month. In urban centres, both starts in the multi-unit (+0.4K to 219.0K) and single-detached segments (+0.3K to 42.7K) were flat as well.
The TeranetNational Bank Composite National House Price Index declined by 0.5% from May to June after seasonal adjustment. Six of the 11 CMAs included in the index saw declines: Ottawa-Gatineau (-1.2%), Calgary (-1.0%), Hamilton (-0.9%), Toronto (-0.8%), Vancouver (-0.8%), and Victoria (-0.5%). In contrast, prices rose in Halifax (+2.0%), Winnipeg (+1.6%), Edmonton (+1.6%), Quebec City (+0.5%), and Montreal (+0.3%).
https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/economic-news-resale-market.pdf
CREA: Canadian Home Sales Up Again in June, National Prices Holding Steady
The number of home sales recorded over Canadian MLS Systems rose 2.8% on a month-over-month basis in June 2025, building on the 3.5% gain recorded in May.
Over the past two months, the recovery in sales activity was led overwhelmingly by the Greater Toronto Area (GTA), where transactions, while remaining historically low, have rebounded a cumulative 17.3% since April.
At the national level, June was pretty close to a carbon copy of May, with sales up about 3% on a month-over-month basis and prices once again holding steady, said Shaun Cathcart, CREAs Senior Economist. Its another month of data suggesting the anticipated rebound in Canadian housing markets may have only been delayed by a few months, following a chaotic start to the year; although with the latest 35% tariff threat, were not out of the woods yet.
June Highlights:
National home sales were up 2.8% month-over-month.
Actual (not seasonally adjusted) monthly activity came in 3.5% above June 2024.
The number of newly listed properties fell 2.9% on a month-over-month basis.
The MLS Home Price Index (HPI) was almost unchanged (-0.2%) month-over-month and was down 3.7% on a year-over-year basis.
The actual (not seasonally adjusted) national average sale price was down 1.3% on a year-over-year basis.
https://www.crea.ca/media-hub/news/canadian-home-sales-up-again-in-june-national-prices-holding-steady/
