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π¨ Homeowners, listen up! π¨
Even though interest rates have been climbing for over 2 years, the real impact might hit when it's time to renew your mortgage. If you locked in those ultra-low rates in 2020 or 2021, brace yourselves for potential big jumps in rates and payments.
Don’t wait until the last minute! Let’s chat now to make sure you’re in the best position for your renewal. ππ‘
#MortgageRenewal #HomeFinance #InterestRates #MortgageAdvice #FinancialPlanning
Wondering when interest rates will drop? π€ It's the burning question on everyone's mind! While we can't predict the future, we can read the signs from bond markets to gauge sentiment. Got questions about interest rates, affordability, or any other mortgage concerns? Let's chat! π¬ #InterestRates #MortgageAdvice #FinancialPlanning
Celebrating personal and professional growth! π Just wrapped up our Leadership training at Pineapple Financial alongside our inspiring broker owners and team leaders. Proud to be part of a brokerage committed to continuous improvement. ππΌ
#continuousimprovement
#neverstoplearning #leadershipjourney #brokerlife #mortgagetraining #leadershipdevelopment #qmtmortgages
Updates from the 2024 Federal budget geared towards helping first-time home buyers (FTHBs):
1. You can now use up to $60K of your RRSP towards your down payment (up from $35K)!
2. Plus, you can leverage a 30-year amortization to qualify for larger insured mortgages on new construction purchases.
Curious how these changes could benefit you? Let's chat about how I can support you on your home-buying journey. π πΌ #qmtmortgages #FirstTimeHomeBuyer #2024Budget #HomeBuyingJourney
2h
Reminder to declare the occupancy status of your residential property for 2023. Residential property owners in Toronto must declare occupancy status annually.
The declaration deadline is February 29, 2024
#propertytax #torontoproperty #qmtmortgages
The Bank of Canada has been working to curb inflation since raising its key interest rate in March 2022. Their aim? To bring inflation down to the target of two percent. With January’s inflation easing to 2.9% from December’s 3.4%, the bank is grappling with a dilemma: maintain or cut rates to manage housing prices and inflation. Keeping rates steady means higher mortgage renewals, while cutting could stimulate demand, driving prices higher. Meanwhile, rent prices are increasing due to growing population and limited housing supply.
Economists are still anticipating the first rate cut in June. What are your thoughts?
#EconomicInsights #inflationcontrol #housingmarketupdates
@ 2023 Pineapple Awards Show!
Great news, the Bank of Canada held their rate again - this what we expected and hoped for! This decision comes as the Canadian economy is slowing down, and more people are finding it hard to get jobs.
The recent hold means that there will be no change for variable rate mortgage holders today. However, this decision raises an essential question - is it time to consider a variable rate mortgage option again? If you are purchasing or renewing your mortgage soon, reach out and we can discuss your mortgage options.
#qmtmortgages #interestrates
Celebrating milestones with pride and grateful for the incredible company culture – it’s not just a job, it’s a family.
#teamsuccess #mortgages #qmtmortgages
Great news! The Bank of Canada announced that they will hold the overnight rate. The prime rate remains at 7.2%.
It's great news for variable-rate mortgage and line of credit holders.
The Bank of Canada predicts that it will take some time for the inflation rate to settle down. If you have a mortgage up for renewal soon, it's a good idea to talk to your mortgage broker. They can help you explore options that align with your budget.
The next announcement is set for December 6th.
#bankofcanada #interest #homefinancing #qmtmortgages #financialgoals #mortgagebroker #mortgagetips
If you’re in the Trinity Bellwoods area, check out these two open houses!
Sat Sept 30 & Sun Oct 1
22 Manning Ave, Toronto
Bathurst & Queen
MLS#: C7034908
123 Lisgar Street, Toronto
Dufferin & Queen
MLS#: C7027040
#torontoopenhouse #investmentproperty #propertyforsale
Great news! The Bank of Canada announced that they will hold the overnight rate. The prime rate remains at 7.2%.
Borrowers with a floating-rate such as variable-rate mortgages and lines of credit can finally get a moment of relief. Those that want to enter the market are hoping that this decision will convince lenders to lower their fixed mortgage rates.
The next announcement is set for October 25th - stay tuned!
#bankofcanada #interest #homefinancing #qmtmortgages #financialgoals #mortgagebroker #mortgagetips
The Bank of Canada increased the overnight rate by 0.25%.
This is the third increase for 2023, and the 10th rate hike since March 2002.
If you have any questions about how this may affect you and what the next step is, please don't hesitate to reach out to discuss your options.
The next BOC announcement is Sept 6, 2023.
#bankofcanada #mortgages #mortgagebroker #mortgagetips #ontariorealestate #interestrates #qmtmortgages
Great news for the spring market! The Bank of Canada had decided to keep the key rate the same. Inflation has been decreasing since the beginning of the year, and this could lead to a potential decrease to rates.
If you are considering buying or refinancing this spring, reach out for mortgage tips.
The next rate announcement will take place June 7th.
#bankofcanada #interestrates
#inflation #financialtips #mortgagetips #interestrates #homebuying
#financialgoals
#mortgage #qmtmortgages #pineapplemortgage #empoweredbypineapple
Hope you're enjoying the Easter Long Weekend with your loved ones and enjoying the warm weather today!
#easter #spring #longweekend #easterbunny
Inflation rates slowing down and coming in lower than anticipated! This is a step in the right direction and a good sign for the economy.
#inflation #financialtips #interestrates #mortgage #budget #pineapplemortgage #qmtmortgages
Today's rate announcement is a positive sign that the BoC is satisfied that their previous rate hikes is beginning to take effect on inflation.
Here's to a small win to round out this quarter!
The next rate announcement will take place April 12th.
#bankofcanada #interestrates #empoweredbypineapple #qmtmortgages
This morning, the Bank of Canada increased its overnight benchmark interest rate 25 basis point to 4.50%. This is the eighth time since March 2022 that the Bank has tightened money supply to address inflation. This is the smallest hike since March so it could be as sign that the bank may be done with rate hikes for a little while.
Looking ahead, the Bank "expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases.”
The next announcement will take place March 8th, 2023.
#bankofcanada #interestrates
Happy lunar new year!
Did you know that the red envelope symbolizes good wishes and luck for the new year ahead?
Typically in Chinese/Vietnamese culture, red envelopes are given from married adults to the younger generation who are still in school or unmarried. It is a gesture of kindness and symbolically means that you've become ready to share your riches and blessing with others.
We just celebrated lunar new years with the family and my son received red envelopes from his grandparents, aunts and uncles. At the end of the night, he asked if it was okay for a child to give to their parents. I told him yes, and that it's typically from adult children to their parents. Nevertheless, he then went to his room and put together a red envelop to share with me!!
#proudmom #happychinesenewyear2023
Client focused. Results Driven.
The market has shifted and many of us are wondering what happens when your mortgage come up for renewal. Call me if you are looking for mortgage options and want to plan ahead!