As a Mortgage Professional I often field client inquiries about risks facing Canadian real estate and mortgage markets. With all the turmoil taking place across the border and around the world in real estate markets, now is a good time to clarify some of the differences between us and our neighbours south of the border. Below I have condensed and bullet-pointed a recent Economic Research Report released by Scotiabank that explains the many differences well:
Mortgages in a Brave New World
WHY AM I A MORTGAGE BROKER?
I became a mortgage broker to help families take control of their finances, away from the banks and government. Mortgages are the loans with the lowest interest rates available. I help families to finance their beautiful new homes, decrease taxes, increase net worth, improve cash flow, and decrease debt costs.
I have discovered things that are essential for families to understand when living in a country like Canada. And since I would like to help your family, I will share them with you.
House prices, sales rise again
Alan Campbell, Richmond News
It may not yet be time to cork the champagne, but there appears to be light at the end of the Richmond real estate tunnel.
For the second time in a row this year, sales prices and sales volume improved from the previous month. (more…)
Home sales jump in April
I saw this article today on The Globe and Mail website:
http://www.theglobeandmail.com/servlet/story/RTGAM.20090514.whomesales0514/BNStory/Business/home
It is another article giving a good indication of an upward trend on home sales and prices. Those who have recently purchased or moved up would be looking to be in a much stronger position now. (more…)