July, 2017
April, 2017
March 27th, 2017
March 8th, 2017
February 3rd, 2017

July, 2017

As recently reported by the Canadian Real Estate Association (CREA) the number of homes sold across Canada via the MLS system fell by 6.2% in May 2017 compared to April 2017. The month over month percentage decline was the largest since August 2012. Toronto had the greatest decline at 25.3% while some markets such as Ottawa, Calgary and Edmonton saw increased sales in May 2017 compared to May 2016. This latest report indicates a more balanced and healthy housing market.

Interest rates are still very low but based on recent comments made by the Bank of Canada Governor Stephen Poloz, rates might not stay this low for much longer. "The interest rate cuts the Bank of Canada made in 2015 have largely done their job as the economy appears to be gathering momentum" the head of the central bank said. The Canadian dollar also strengthened to a two month high against its US counterpart after Mr. Poloz comments only to see it weaker due to lower oil prices.

Of course no one knows for sure when and if rates will rise and to what extent but with a healthier broad based Canadian economy growing at an annual rate of 3.7% during the first quarter, employment numbers suggest the economy has recovered from the recession that followed the decline of oil prices.

With a more balanced real estate market and current low interest rates, this summer might be the best time to lock in your interest rate while shopping for your first dream home or the next dream home.

With mortgages becoming more complicated over the last 12 to 18 months, it's no wonder that mortgage brokers are becoming the preferable option when looking for the right mortgage. Mortgage brokers now arrange 55% of all first-time homebuyers.

As your mortgage professional, my role is to work with you to get the most out of your mortgage. Call or email me today.

April, 2017

As per the Canadian Real Estate Association's (CREA) latest update, national home sales fell 1.7% from March to April and 7.5% compared to last year. Newly listed homes, however, were up 10% from March to April. This is good news if you are looking to purchase a home now with more home listings entering the market and hopefully less bidding wars which have contributed to rising prices.

Canadians still have a strong desire for home ownership for both lifestyle and long term financial reasons. Many Canadians have taken advantage of recent increases in the value of their current homes and are moving up to larger homes or using the equity to buy investment properties. Apart from the fact that you get to live in your tangible investment, down the road when you decide to sell, the proceeds of your principal residence are tax free unlike other investments. This is a significant advantage come retirement time.

Making wise decisions when it comes to your mortgage is as important as your decision to become a home owner or real estate investor. Not all mortgages are created equal; with all the mortgage rule changes combined with the federal and provincial government attempts to cool the rate of home price appreciation, consulting with a professional and unbiased mortgage professional makes more sense today than ever.

Contact me today and let me help you realize your home or investment dreams

March 27th, 2017

As Pierre Trudeau once said about living so close to the United States "Living next to you is in some ways like sleeping with an elephant. No matter how friendly or even tempered is the beast, one is affected by every twitch and grunt". That statement, said almost 40 years ago, still holds very true today. Our economies are even more intertwined now and it's no wonder many Canadians are paying close attention to policymakers and politicians south of the boarder, particularly the U.S. Federal Reserve.

The U.S. Federal Reserve recently raised interest rates by 25bps (one quarter of one percent) this month and for the second time in 3 months. It has also stuck to its outlook for two additional rate increases this year while remaining cautious before implementing any further increases. "We have seen the economy progress over the last several months in exactly the way it was anticipated and we have some confidence in the path the economy is on" Fed Chair Janet Yellen said at a recent press conference. Employment numbers in the U.S. continue to look impressive and economic activity is expanding which helps keep the bond market relatively calm with no immediate increases in yields.

What does this mean for you?

For the time being this is good news for Canadians. The lack of bond yield increase in the U.S. has resulted in the Canadian bond prices to remain unchanged as well. If you are looking to get a 5 year mortgage, this means that you shouldn't see any increases in rates as typically fixed term mortgages are tied to the yields (returns) on Canadian bond prices. Also, no significant changes are expected for variable rate mortgages as it appears the statements made by the U.S Federal Reserve will push the Bank of Canada's decision to increase our Bank of Canada benchmark rate a little further into the future. As your mortgage professional, it's my responsibility to look at what's happening in the Canadian mortgage landscape and what's transpiring south of the border so I can see how it affects you and your mortgage. If you are thinking of buying your first or second home, or looking at options for your existing mortgage, please call or email me.

March 8th, 2017

It appears the mortgage rule changes introduced in 2016 have started to have some impact on the choices Canadians have when it comes to obtaining their mortgage. The recent changes made by the federal government led to an increase in mortgage rates as well as a decrease in overall competition in the mortgage market, particularly with options and solutions that non-traditional mortgage lenders provided.

Competition in the mortgage industry is great for mortgage consumers. It provides more options as well as a more competitive rate environment that of course benefits everyone. Our national association, Mortgage Professionals Canada, is a strong supporter of the Canadian mortgage market and encourages more competition and choices that benefits all Canadians www.mortgageproscan.ca.

The Bank of Canada has been supportive of polices that they believe will stabilize the risks associated with an ‘overheated' real estate market especially in large cities such as Vancouver and Toronto. However, these policies seem to have little effect on price appreciation in those markets and have led to higher mortgage financing costs for people right across the country.

As your mortgage professional, I advocate for more competition and mortgage options so that I can deliver even more choices that benefit you. My goal is to help you achieve home ownership while showing you options and products that can put thousands of dollars in your pocket.

Getting the right mortgage for you takes a lot of understanding of what is available in the market today. As the mortgage industry continues to evolve, I will always remain up-to-date with all the necessary resources to make sure you have all of the choices available to you. There are a lot of questions out there today so if you or anyone you know is looking for mortgage answers, please call or email me.

February 3rd, 2017

"Just finished up a mortgage for a lovely couple where one of them is on long-term disability. Banks turned them down, but I got them a really low interest rate mortgage with just 5% as a down payment. They are so happy, and so am I!"

Dilys Anne Hagerman

Mortgage Agent
Licence #M09000865

The Mortgage Alliance Company of Canada

Serving Ottawa

To serve my GTA clients, I am in Toronto frequently, and to all other Canadian clients, we can email and skype!

Phone: 613.290.4043


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