Read analysis from North East Mortgages president Terry Kilakos on mortgage rule changes that went into effect in October 2018 (OSFI dropped the hammer on the mortgage market), as well as commentary from December 2018 (Treat Canadians like the responsible homeowners they are). Residential mortgage growth has dipped to a 17-year low the Bank of…
DetailsNow that January is done with, it’s time to reassess those New Year’s resolutions. How are your financial goals doing? If things haven’t gone quite as you like, and you’ve found yourself this year facing a mountain of debt you don’t think you can tackle, it might be time to consider refinancing your mortgage. This…
DetailsIf you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker, North East Mortgages President Terry Kilakos explained. “On standard residential mortgages, it’s 100% free for…
DetailsThe federal government is looking for new ways to help millennials get into the housing market, the finance minister said this week. Bill Morneau told a business audience just outside Toronto that one of the planks of his upcoming budget will be assistance for younger buyers looking to get into the market, according to a…
DetailsWatch Terry Kilakos’s conversation with Mayor Alan DeSousa here. They talk about infrastructure, the future of the City of Montréal, some of the former accountant’s philosophy for budgeting and some tips from Terry. You can also listen to the episode on Soundcloud. As the New Year begins, we wanted to look back at our favourite…
DetailsThe team at North East Mortgages would like to wish our friends the best for the holiday season! A new year brings promise but many Montreal real estate professionals agree: 2019 should not bring a foreign buyers tax for the city of Montreal. For one, this wouldn’t be enough to prevent foreign buyers from taking…
DetailsNew mortgage rules put in place by the federal government to cool the housing market may be unnecessarily hurting homebuyers who are more responsible than some regulators believe. North East Mortgages president Terry Kilakos said the rules around stress testing buyers are unnecessary because Canadian home-buyers aren’t over-leveraged and historically don’t go back on their…
DetailsAs the financial storm moves into the Canadian economy the Bank of Canada as expected has chosen to forgo on the rate increases as they once had promised would happen. The main reasons for the decision come from lower than expected GDP numbers and from the decision that Alberta government has taken to reduce oil production starting…
DetailsThere’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As a mortgage broker, here’s how I will help…
DetailsFOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario October 24, 2018 Available as: PDF The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic outlook remains solid. The US…
Details
