
Brand NEW CHANGES that help First Time Buyers in the GTA!!!!
Effective May 3, 2021, the Federal Government will be expanding the First Time Home Buyer Incentive program to enhance eligibility in Toronto, Vancouver and Victoria Census Metropolitan Areas (CMA) as defined by Statistics Canada. What you need to know In Toronto, Vancouver and Victoria CMAs, the: Maximum total qualifying annual income is $150,000 (an increase from $120,000) Maximum mortgage loan amount plus incentive cannot exceed 4.5 times the total qualifying income (an in
Residential Market Commentary - Getting better, faster
The Bank of Canada has sent two clear signals that things are getting better, faster, than it had expected. In its latest Monetary Policy Report the Bank announced it expects to hit its inflation target sometime in the second half of 2022, rather than sometime in 2023. It has also rolled back it’s bond buying program from $4-billion a week to $3-billion a week. Anyone who is involved with a variable rate mortgage or a line of credit will take note of the first signal. The s

Getting Your Yard Spring Ready
Spring is just around the corner and I have a few great tips to help you get your yard ready for the coming season! Clean Up Your Yard: Remove any branches or other debris that has piled up over the winter months and then rake out dead grass and old leaves to help your lawn start fresh. If you have an air blower, that will make the task even easier! Apply Fertilizer, Pre-Emergent and Weed Killer: To help your lawn shine this spring, now is a good time to s

What is a Reverse Mortgage?
Did you know? Reverse mortgages are continuing to gain popularity for 55+ homeowners in Canada! For many Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well as reduced income, it can be a challenge. This is where the reverse mortgage can help!
This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home and moving them to a care home or assisted living, a rever

**OSFI new stress test announcement** (spoiler: it isn't as scary as everyone is making it sound)
Office of the Superintendent of Financial Institutions (OSFI) announced today they are re-opening the discussions around the qualification rates for the stress test in Canada. Right now the qualification rate for best interest rates used for the stress test is 4.79%. Consultation will continue to take place over the next few weeks ending on May 7, 2021 with an announcement to occur May 24, 2021. The discussion suggests that they are considering an increase to 5.25% as of June