Latest News

With Bank of Canada rate cut, sub-2% mortgages are coming to a bank near you

posted by The Mortgage Associates    |   January 22, 2015 08:46

With Bank of Canada rate cut, sub-2% mortgages are coming to a bank near you

Article by Garry Marr, Financial Post, January 21, 2015

"By this time next week, Canadian consumers borrowing for a home might be looking at the lowest rates in the country’s history as a result of the Bank of Canada’s rate cut on Wednesday.

Interest rates on the discount market are already 2.05% on a variable rate, five-year mortgage and 2.57% on a five-year, fixed rate mortgage, said Rob McLister, editor of Canadian Mortgage Trends.

“We haven’t heard from the banks yet,” he said, referring to whether financial institutions will match the central bank’s 25-basis point cut. Bank lending rates tend to move with prime which variable rates are tied to. “Historically it takes a day or two for them to move.”

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Regina second-most affordable market in the West

posted by The Mortgage Associates    |   January 21, 2015 09:43

Regina second-most affordable market in the West

Article by Bruce Johnstone, Leader-Post, January 9, 2015

“In spite of a 150 per cent increase in housing prices since 2007, Regina still has the second-most affordable housing among major western Canadian cities, according to the Association of Regina Realtors.

“Despite the significant appreciation in housing prices over the past seven years, Regina remains the second-most affordable market in Western Canada,” said Gord Archibald, CEO of the Association of Regina Realtors.

In fact, there has actually been a decline in selling prices over the past year.”

To read the full article, please click here.

Shawna has been there every step of the way to make sure things goes smoothly

posted by The Mortgage Associates    |   January 20, 2015 08:29

Shawna MacDonald"Over the years Shawna has done a few mortgages for us, and has been there every step of the way to make sure everything goes smoothly.  She is always friendly, caring and thorough.  I would recommend her to anyone looking for a Mortgage Broker."

Grant Beauchemin, January 2015







Saskatoon fourth-most affordable in West

posted by The Mortgage Associates    |   January 19, 2015 09:43

Saskatoon fourth-most affordable in West

Article by Bruce Johnstone, Leader-Post, with Files from the StarPhoenix, January 9, 2015

"Saskatoon is the fourthmost affordable major city in Western Canada when it comes to buying a house, despite about a 50 per cent increase in prices over the last six years.

According to statistics on the Saskatoon Region Association of Realtors website, the average selling price for a home in Saskatoon in 2001 was $127,600.

The average price rose steadily until 2007 when it spiked to $232,600 and to $287,700 in 2008. After a slight pullback in 2009 (to $279,700), the price has continued upwards to an average of $356,500 in 2014.

According to a recent Toronto Star story, Saskatoon has the fourth-most affordable housing in Western Canada. Saskatonians would need to earn just over $74,546 a year to afford to buy an average house priced at about $350,000."

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Sky was part of the team that made buying our 1st home more exciting than stressful!

posted by The Mortgage Associates    |   January 16, 2015 11:57

"Sky Sorenson was incredible.  He was part of the team that got things going and made buying our first home more exciting than stressful!  Thank you so much!  We appreciate all your hard work!

Alyssia Disiwich & Austin Mcfiunigal, January 2015

Bank of Canada warns economy could be in for a rough ride

posted by The Mortgage Associates    |   January 15, 2015 08:20

Bank of Canada warns economy could be in for a rough ride

Article by Barrie Mckenna & Bill Curry, Globe and Mail, January 13, 2015

"The Bank of Canada is acknowledging for the first time that the world may be facing a prolonged oil-price slump, casting a dark shadow over the country’s economic prospects.

The price of crude, already sliced in half since the summer, could fall further and stay low for a “significant period,” deputy governor Timothy Lane warned in a speech Tuesday.

That could have profound and far-reaching implications for the Canadian economy, including putting more cash in the hands of consumers and exporters. But cheap crude is also likely to sap overall growth, send the dollar lower, dent federal and provincial government revenues, and perhaps delay eventual interest-rate hikes."

To read the full article, please click here.

Cheapest day of the year to buy a house

posted by The Mortgage Associates    |   January 14, 2015 10:28

Here's the cheapest day of the year to buy a house, according to one realtor

Article by Garry Marr, January 12, 2015

"Thinking about buying a house? Is there a perfect day to pull the trigger? How about next Tuesday?

A Toronto real estate company says its analysis of five years of data from the region says the best day to buy a home is Jan. 20.

“The savings amounts to a lot for the buyer,” said Rokham Fard, chief marketing officer of TheRedPin.com, adding he calculates the discount at about $20,000 on a Toronto home compared to the second cheapest month, July.

Of course, it also happens to be the worst point of the year to sell a home but as Mr. Fard says, “if you have to sell, you have to sell.”

To read the full article, please click here.

Thank you to Shawna MacDonald for her wonderful customer service!

posted by The Mortgage Associates    |   January 14, 2015 09:44

Shawna MacDonald"Thank you for your wonderful customer service!  Once again you have been an absolute pleasure to work with."

Breanne Lishchynsky, January 2015







Barbara Yaffe: High consumer debt becoming a way of life

posted by The Mortgage Associates    |   January 13, 2015 08:54

Barbara Yaffe:  High consumer debt becoming a way of life

Article by Barbara Yaffe, Vancouver Sun, January 7, 2015

VANCOUVER — Few things annoy me more than that advertising tagline deployed by Scotiabank: “You’re richer than you think.” Because, speaking personally, I am not.

And in this post-holiday season, many others surely feel as I do. Yet, an overwhelming majority of Vancouverites — among the most indebted Canadians due to high housing costs — are staying on top of their bills.

This finding, from the consumer analytics firm Equifax Canada, is reassuring at this time of year as credit card bills from the Christmas season begin arriving and the initial instalment for 2015 property tax comes due.

According to Regina Malina, senior director of the Toronto-based Equifax, “It’s a positive story: The average debt balance (last autumn) from the previous quarter is higher, but not as high as in other cities. And Vancouver’s delinquency rate is down.”

To read the full article, please click here.

Saskatoon housing starts up in 2014

posted by The Mortgage Associates    |   January 12, 2015 08:48

Saskatoon housing starts up in 2014

Article by Thomas Piller, Global News, January 12, 2015

"SASKATOON – There was an increase in new housing starts in Saskatoon and area during 2014. According to preliminary numbers released by Canada Mortgage and Housing Corporation (CMHC), 3,531 were units started last year compared to 2,980 units in 2013.

The increase was led by multi-family construction, with 1,954 starts reported in 2014 for the Saskatoon census metropolitan area (CMA) compared to 1,322 the previous year. Single-detached starts were down slightly year-over-year at 1,577 compared to 1,658 in 2013."

To read the full article, please click here.