| LIC# 12051
Private mortgage lending involves individuals or private entities lending money directly to borrowers for real estate transactions, bypassing traditional financial institutions like banks or credit unions.
Private mortgage lending involves individuals or private entities lending money directly to borrowers for real estate transactions, bypassing traditional financial institutions like banks or credit unions.
Canadian real estate has significantly increased in value over the last decade which has been greatly beneficial for investors but makes expanding a portfolio or getting into real estate increasingly difficult.
Canadian home sales continued their upward climb in November, marking another strong month across MLS® Systems. Following October’s unexpected surge, sales rose another 2.8% month-over-month, stacking up to an impressive 18.4% increase since May – right before the first interest rate cut in early June.
Canadian residential mortgage debt increased 3.5% year over year in July 2024, reaching $2.2 trillion. This historically slow mortgage debt growth was the result of many potential homebuyers remaining on the sidelines for much of the year, driven by high borrowing costs and elevated home prices. This is according to the Canada Mortgage and Housing Corporation’s (CMHC) latest Residential Mortgage Industry Report (RMIR), which analyses the most recent trends in the residential mortgage industry.
OSFI (Office of the Superintendent of Financial Institutions) has confirmed that it will remove the requirement for lenders to apply the Minimum Qualifying Rate (MQR) to straight switches of uninsured mortgages.
The Bank of Canada today reduced its target for the overnight rate to 4.25%, with the Bank Rate at 4.5% and the deposit rate at 4.25%. The Bank is continuing its policy of balance sheet normalization.
The Bank of Canada on July 24th reduced its target for the overnight rate to 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The Bank is continuing its policy of balance sheet normalization.
By submitting this form, you are consenting to receive commercial electronic messages about the various products and services of Verico Pro Funds Mortgages Inc. o/a Pro Funds Mortgages, 3410 South Service Road, Burlington ON L7N 3T2 and its affiliated group of companies within One Real Estate Enterprise comprising: Valour Group Inc., District Property Trust, 30 Minutes to Wealth Inc., Valour Partners Inc., Valcon Management Inc., Valour Mortgage Services Inc., and Once Upon A Stay Inc.. You can revoke your consent to receive emails at any time by using the Unsubscribe link, found at the bottom of every email.
