Home sales are down, but new listings are surging!
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TMG Canada Inc.’s Tweets
Toronto's Vacant Home Tax takes effect today, February 2nd, 2023.
Read More:
canadianmortgagetrends.com/2023/02/toront
#toronto #affordablehousing #gta #housing #tenants #vacanthometax #taxes #landlords
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Bank of Canada hikes rates by 0.25%, but is now likely to hit the pause button
Read More:
mortgagegroup.com/bank-of-canada
#variable #mortgage #BOC #PRIMErate #pause
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Cost of building are affecting affordable housing
Read More:
biv.com/article/2023/0
#housing #builders #homebuyers #Ottawa #government #affordablehousing
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Variable rate mortgage holders will see an increase of $15.19 per $100,000 mortgage after announced an increase to PRIME of .25%.
PRIME rate is now 6.70%.
Read more:
bankofcanada.ca/2023/01/fad-pr
#inflation #bankofcanada #variablerate #primerate #lending #homebuyers
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Economists overwhelmingly expect a 25-bps rate hike with the first announcement of 2023.
Read More:
canadianmortgagetrends.com/2023/01/bank-o
#BOC #variablerate #mortgageholder #buyers #preapproval #rateincrease #inflation #canada
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Canadians might think prices won't go up forever, but experts say that's unlikely.
Read More:
bnnbloomberg.ca/a-quarter-of-c
#prices #housingprices #inflation #mortgage #realestate
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Hop into the Year of the Rabbit with good luck, harmony, and peace by our side. 🐰
FSRA #10315 | SK Brokerage #315872 | TMG The Mortgage Group (Atlantic) Inc.
#lunarnewyear #TMGFamily #yearoftherabbit2023 #rabbit #red #gold #chinesenewyear #prosper
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“Generally, regulators shut the barn doors after the horses are long gone,”
- Ryan Sims #TMG
Read More:
canadianmortgagetrends.com/2023/01/broker
#OFSI #lendingregulations #TMGfamily
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Confused on the new foreign buyer ban?
Check out our latest blog at mortgagegroup.com/what-you-need-
#homebuyers #foreignbuyer #newtocanada #mortgages #blog #tmgfamily
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A survey found that homeowners are spending roughly 24%, or $289 per month, more than renters on housing costs.
Read More: canadianmortgagetrends.com/2023/01/where-
#costofliving #costoflivingcalculator #home #rental #homeownership #homeowner #renters #rentersinsurance #rent #renting
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The new residential property flipping rule is now in affect after being introduced in 2022's budget.
This change means that any property which is sold before 12 months of ownership will be considered flipping a property and profits will be considered income and not capital gain
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Reminder 🚨
has their first meeting this month January 25th to discuss any changes to #PRIME rate
#variablemortgage #boc #rates #mortgages
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As of January 1, 2023 the Foreign Home Buyer Ban took effect.
This is in efforts to calm inflation in home prices and other areas of our economy...
The question is, will this work?
- Yes40%
- No60%
- Other (Comment below
)0%
5 votesFinal results
What does 2023 hold in store?
While home price growth is expected to moderate in 2023, recent data show Canadians continue to hold a positive view towards real estate.
Read More:
canadianmortgagetrends.com/2022/12/2023-h
#2023housingmarket #housingmarketforcast #realestate #homebuyers #rates
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The will receive December #inflation data before its next monetary policy meeting on January 25, 2023.
Read More: mortgagegroup.com/inflation-data
#BOC #ratehike #mortgageholders #variablemortgage
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Did you know that even though the average national home price has gone down since its peak earlier this year, monthly payments have actually increased?
Do you think it's a sign of a larger issue in the housing market?
Read More: mortgagegroup.com/housing-afford
#HousingCrisis #equifax
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“In recognition of those latter factors, the Bank has opened the door to the possibility that this could be the last rate hike of the cycle.”
- Douglas Porter (BMO Chief Economist)
Read More:
mortgagegroup.com/what-does-the-
#ratehike #boc #interestrates
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Pre-Construction Homes have buyers in a difficult spot due to rising interest rates in efforts of 's taming high inflation.
Read More:
cbc.ca/news/canada/to
#preconstruction #firsttimehombuyers #brampton #builders #boc #interestrates #construction #mortgages
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"Are rising interest rates making it difficult for first-time buyers to enter the market?"
- Yes94.7%
- No5.3%
- Comment below0%
19 votesFinal results
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"This market is going to be one of balance, one of reason and rational home buying and home selling,"
- ()
Read More:
iheartradio.ca/virginradio/wi
#condosales #homesales #housingmarket
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In efforts to slow down inflation, brought another increase to PRIME rate affecting those in a variable rate mortgage .
However, what do these changes really mean?
Per $100,000 mortgage, mortgage holder's will see a $29.96 increase to their monthly payment.
#boc
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Effective January 1, 2023, non-citizens and non-permanent residents are prohibited from purchasing residential property in Canada for two years.
Read More:
laws-lois.justice.gc.ca/eng/acts/P-25.
#newtocanada #homebuying #governmentlaw
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Announcement 🚨
The Bank of Canada has raised its overnight target rate by 50 basis points, bringing it to 4.25%.
Read More:
bankofcanada.ca/2022/12/fad-pr
#BOCrates #variablemortgage #inflation #supplyanddemand
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Our qualified and accredited mortgage industry professionals assess your needs and act in your best interests, representing you as the go-between with lenders.
Find your Mortgage Professional at:
mortgagegroup.com/find-a-broker/
#findamortgagebroker #TMGfamily #firsttimehomebuyer
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You should also be mindful not to overdo any renovations, particularly when it comes to bathrooms and the kitchen.
Read More:
mortgagegroup.com/top-home-impro
#renovation #sellingtips #profit #budgeting
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Congratulations Ryan La Haye () on being recognized on the CMP Mortgage Global 100 list!
#mortgage #leaders #innovation #Global #topmortgageprofessional #Quebec #TMGFamily
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Congratulations Debbie Thomas, Founder & Partner TMG The Mortgage Group, for being named in the CMP Mortgage Global 100 list! A very well deserved and earned acknowledgement for all you have done for TMG and the mortgage industry in Canada.
#MPC #TMGfamily #Congratulations
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Do any of the following questions relating to our current economic climate sound familiar to you?
“Is now a good time to buy?”
“Am I carrying too much debt?”
“What will happen to the housing market?”
“Where are interest rates headed?”
Read More:
mortgagegroup.com/what-we-can-le
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We are happy to welcome David Millar to our #TMGfamily and Cherity Goerk’s team.
With over 25 years of experience helping corporate clients across Canada and an education in Business and Economics, David brings a unique blend of customer-first professional skills to his clients.
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While this list is a rough guide, new homebuyers are typically recommended to budget at least 1.5% of their purchase price for closing costs (i.e. $7,500 for the purchase of a $500,000 home).
Read More :
mortgagegroup.com/be-prepared-wh
#savingsplan #firsttimehomebuyer #closingcosts
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We are happy to welcome Melissa Elliot to our #TMGfamily and Ben Jeffrey’s team.
Melissa is passionate about helping others achieve their dreams of homeownership. She has good attention to detail and prides herself on making the mortgage process as simple as possible.
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Despite the prominent focus on getting the best mortgage rate, many borrowers understand other features can be equally, if not more, important.
Read More :
mortgagegroup.com/what-borrowers
#mortgagerates #firsttimehomebuyer #mortgagebroker
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We are happy to welcome Nancy Dass to our #TMGfamily and Jonathan Tillger’s team.
Nancy has been in the financial industry for over 15 years. “I get so much joy helping clients secure a mortgage, especially if they’ve been told by the bank they don’t qualify.”
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Bank of Canada Governor Tiff Macklem made the comment following Wednesday’s rate announcement, where the Bank increased its key benchmark rate by 50 basis points, bringing it to 3.75%.
Read More :
mortgagegroup.com/the-bank-of-ca
#interesthikes #interestrates #bankofcanada
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Given that a mortgage is the largest form of debt most people will take on in their lifetime, it’s not surprising that it can also be the source of at least some financial stress and anxiety.
Read More :
mortgagegroup.com/stressed-about
#mortgagedebt #interestrates #inflation
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We are happy to welcome Alina Luztono to our #TMGfamily.
Alina became a mortgage agent to be able to provide the clarity and support needed for her client when making one of the biggest investments of their life. She is fluent in 3 languages including Russian, Spanish & English.
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We are happy to welcome Stacey Collett to our #TMGfamily.
Stacey has been in the mortgage industry for over 11 years, and after working in banking with loans and investments, she came to discover her love for mortgages and helping people.
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