Welcome! We are dedicated to helping you find the best mortgage solution to suit your needs.
Our services include first-time homebuyer mortgages, refinancing options, mortgage renewals, variable and fixed-rate mortgages, and mortgage pre-approvals. We work with a wide range of lenders to provide our clients with access to a variety of mortgage products and services.
The first step in the mortgage application process is to complete our online mortgage application, which can be done from the comfort of your own home, at any time that works best for you. The online application is secure and easy to use, and designed to gather all the necessary information we'll need to begin the process of finding the best mortgage solution for you.
Once you've completed the online application, we will be in touch with you to schedule a consultation and discuss next steps. During this initial consultation, we'll discuss your financial situation, your mortgage needs, and your goals. Based on this information, we'll help you choose the best mortgage product and walk you through the application process.
What's required from applicants throughout the process includes but is not limited to proof of income, employment information, banking information, income tax history and details about your assets and liabilities. We'll also need information about the property you're looking to purchase or refinance, such as its value and location.
We understand that the mortgage process can be overwhelming. That's why we're here to guide you every step of the way. We will work with you to ensure that you have a clear understanding of the mortgage products available, the application process, and what's required from you as an applicant.
We're here to accommodate your preferences and work with you in the way that works best for you. Contact us today to get started on your mortgage journey.
CMHC Residential Mortgage Industry Report
HIGHLIGHTS
Renewal risk remains as 1.2 million mortgages will come up for renewal in 2025. Most of these will experience higher interest rates than when their term began: 85% of those were contracted when the Bank of Canada rate was at or below 1%.
The mortgage delinquency rate continued to rise from historic low levels in 2024, reaching 0.19% in the second quarter, with delinquency rates on other credit products, and allowances for expected credit losses both suggesting it will continue to increase through 2025. However, this remains below pre-pandemic levels and well below averages since 1990.
Traditional lenders experienced two very different quarters to begin 2024. The first quarter showed higher risk lending compared to 2023, but in the second quarter newly extended mortgages had lower risk based on traditional risk metrics.
Overall mortgage debt increased to $2.2 trillion in July 2024, which exacerbates the vulnerability of elevated household debt. This growth (3.5% year-over-year) is below recent averages, but lower interest rates could accelerate the increase.
Alternative lenders saw an increase in lending during the first quarter of this year compared to the fourth quarter of 2023, indicating renewed momentum to sustain their market share from a year ago. However, their risk profile has increased compared to last year.
Mortgages with terms of three or more years but less than five years are the most popular, with over half of new mortgages having terms in this range. The traditional five-year, fixed-rate mortgage and variable rate mortgage both represent a small share of the newly extended loans.
https://assets.cmhc-schl.gc.ca/sites/cmhc/professional/housing-markets-data-and-research/housing-research/research-reports/housing-finance/residential-mortgage-industry-report/2024/residential-mortgage-industry-report-fall-2024-en.pdf
BMO: Consumers plan to spend less this holiday season
The BMO Real Financial Progress Index reveals that amid growing concerns about the cost of living (54%) and their overall financial situation (36%) 79% of Canadians are planning to cut back on spending this holiday season. The surveys insights provide an outlook on Canadians holiday spending plans, including:
The holiday price tag:
On average, Canadians plan on spending more than $1,991 this holiday season, including travel ($1,802), holiday gifts ($519), entertaining ($295), decorations ($141) and other holiday expenses ($275).
Nearly a quarter (23%) plan on spending more than $2,000 during the holidays.
Making a list and checking it twice:
79% plan on buying fewer gifts this year, and over a quarter (27%) will cut down the number of people on their gift list.
More than a third (36%) plan on buying less expensive gifts.
Sleighing spending:
41% are spending less on fewer gifts, and 44% had cut back on spending on other occasions, including birthdays and anniversaries, throughout the year in order to spend more on holiday gifts.
Nearly half (49%) admit to spending more than they know they should.
https://about.bmo.com/consumers-plan-to-spend-less-this-holiday-season-heres-how-bmo-can-help-make-holiday-budgeting-easier/
TD: Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery
Report by TD Economics
Highlights
On December 15th, the federal government will roll out mortgage rule changes that make it easier to purchase a home for those taking out insured mortgages.
These measures should offer a lift to Canadian home sales and prices next year. However, their impact will be blunted by an array of factors, including the affordability erosion induced by their implementation.
Mitigating the impacts of these policies may be positive from a financial stability perspective, as the measures will likely encourage households to take on more debt at a longer term, and insured borrowers have typically been more prone to bouts of financial stress.
The federal government has recently announced two changes to Canadian mortgage rules (effective December 15th, 2024) that will make it easier to qualify for purchasing a home. As the surge in home sales early in 2024 (amid a steep drop in bond yields at the end of last year) and in the spring of 2023 (after the Bank of Canada paused its rate hiking campaign) taught us, Canadian housing market activity can be highly reactive. Yet, we dont think that these measures alone will unleash a housing boom. Instead, theyll likely offer a secondary tailwind to a market thats already gaining decent traction in 2025 on the back of lower borrowing costs and a gradually improving economy (see here). Whats more, the affordability boost offered by these measures will likely also erode as home prices are raised by their implementation, thereby limiting their effectiveness.
https://economics.td.com/ca-mortgage-rule-changes
