Saturday, June 1, 2024 / by Evelyn Lopes
Once again, the number one story in real estate this summer is mortgage rates. But unlike last year, when a surprise series of rate hikes from the Bank of Canada sent skittish buyers back to the sidelines, all signs now point to the opposite scenario. Instead of market-chilling rate hikes, economists now expect market-quickening rate cuts—possibly starting as soon as this month.1
That means the housing market is likely to get interesting over the next few months. If fixed mortgage rates continue to drop in anticipation of a lower policy rate, more buyers are expected to show up looking for a deal before home prices take off in 2025 and 2026.2
Listings are also on the upswing and homeowners are feeling increasingly optimistic that their home values will rise over the next year, per a new Canada Mortgage and Housing Corporation (CMHC) study. So we could see more sellers-in-waiting regain the confidence to list their homes at strong but realistic prices.3,4
With pent-up demand co ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, mortgages, mortgage rates, market, bank of canada, rate hikes, rate cuts, housing market, fixed mortgage rates, listings, buyers, cmhc, canada mortgage and housing corporation, sellers, demand, canadian housing market, rate cut, home sales, home prices, affordability
Tuesday, February 13, 2024 / by Evelyn Lopes
How the Overnight Lending Rate Influences Your Financial World
Ever stopped to think about how a decision made in a high-level banking meeting can affect your mortgage, your savings, and even your entire financial roadmap? It's pretty mind-boggling when you put it into perspective.
Today, we're going to peel back the curtain on one of the banking world's most influential figures – The Bank of Canada's Overnight Lending Rate, also known as the Key Interest Rate. Understanding this rate is key to grasping the bigger financial picture.
What is the Overnight Lending Rate?
Simply put, the Overnight Lending Rate is the interest rate at which banks lend money to each other. Think of it as the drumbeat to which the entire banking sector marches. It's not just any number; it's the pulse of the banking system, dictating the tempo of their day-to-day lending.
Recently, on January 24, the Bank of Canada made headlines by keeping this rate steady at 5%. This decision is more signc ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, mortgages, bank of canada, bank of canada interest rates, best time to sell a house, canadian real estate, overnight lending rate
Thursday, October 19, 2023 / by Evelyn Lopes
Unlock Financial Flexibility with BMO's Saver's Advantage Program: An Overview
Navigating the maze of mortgage approval can be a challenge, especially if you find that you don’t fit neatly into standard lending criteria. Whether you’re a retiree, self-employed, or a high net-worth individual, BMO’s Saver’s Advantage Program may be the solution you’ve been searching for. In today’s blog post, we will provide an overview of this revolutionary program that leverages your investments and savings to make mortgage approval easier than ever.
What is the Saver’s Advantage Program?
The program is designed for those who may not meet standard lending conditions but have a strong portfolio of savings and investments. Instead of shutting the door on these clients, the Saver's Advantage Program offers a pathway to mortgage approval by acknowledging these assets.
The Power of Indirect Leverage
One of the cornerstones of this program is the concept of ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, home and lifestyle, mississauga real estate, halton hills real estate, real estate tips, realty bytes, realty bites, mortgage, mortgages, mortgage rates, homebuyer tips, buying a house, real estate investing, finance, first time home buyer advice, first time home buyers, home buying tips, interest rates, financing tips, first time home buyer, savers mortgage, bmo
Monday, October 16, 2023 / by Evelyn Lopes
In the highly competitive and costly real estate market of Toronto GTA, the dream of owning a home can often seem out of reach. With soaring home prices, many individuals and families are exploring alternative options to make homeownership a reality. One such option that has gained attention is joint home ownership, where friends or family members come together to purchase a property. Is this type of ownership a smart move in getting into the ever increasingly expensive real estate market or is it a risky gamble? More and more people are partnering with friends and more and more parents are helping their children get into the market by purchasing, lending or co-signing for a mortgage. Knowledge is key, Read on to learn more and determine if this is the right move for you. In an attempt to alleviate the entry into the high cost of real estate in the Toronto GTA area, including communities in Caledon, Orangeville, Erin, Mississauga, Brampton, Halton Hills, Alliston and Guel ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, home and lifestyle, real estate tips, realty bytes, realty bites, mortgages, mortgage rates, lifestyle, real estate and lifestyle podcast, co-ownership, joint homeownership, joint tenancy, property ownership tips
Monday, July 24, 2023 / by Evelyn Lopes- Klarine
CLICK THE IMAGE TO LISTEN TO THE FULLL PODCAST EPISODE
Unlocking the Value of Your Home: A Deep Dive into Reverse Mortgages in Canada
As Canadians, we treasure our homes - they hold our memories, our dreams, and a significant chunk of our wealth. If you're aged 55 or older, did you know you can tap into the value of your home without selling it? Welcome to the world of reverse mortgages - a financial tool seeing annual growth rates of over 28%.
Unraveling the Reverse Mortgage
In simple terms, a reverse mortgage is a loan that allows homeowners to convert up to 55% of their home's value into tax-free cash, providing an avenue to unlock equity built over the years. The loan is secured against the value of your home, with repayment required only when you decide to move or sell. One of the most attractive features is the flexibility in payment options - you can choose to make monthly payments or opt for a no payment option.
Reverse Mortgage Benefits
Reverse mortgages present a ...
Read More
real estate, evelyn lopes, caledon real estate, brampton real estate, orangeville real estate, home and lifestyle, mississauga real estate, real estate news, mortgage, finances, mortgage rates, mortgage broker, mortgage lender, mortgage renewal, realty bites, interest rates, realty bytes conversations, reverse mortgages
