Mortgage Minute July 2020

Julie Brenneman - Mortgage Broker

The Mortgage Centre

julie@hometowngroup.ca
519-539-6153
http://www.lowermyratenow.ca/

Julie - Facebook Julie - Instagram Julie - Linkedin

Investment and Power of Sale

 

900 JAMES STREET
Woodstock, Ontario N4S1S4

1065 NELLIS STREET #51
Woodstock, Ontario N4S8P2

183 FERGUSON DRIVE #4
Woodstock, Ontario N4V1A5

139 SYDENHAM Street
Woodstock, Ontario N4S7B7

107 SYDENHAM STREET
Woodstock, Ontario N4S7B4

125 BAY STREET #1
Woodstock, Ontario N4S8H7

Not intended to solicit under realestate contract. 



15 Ways to Transform a Small Patio Into a Relaxing Retreat

 

With the right furniture and accessories, even the smallest patio can become an inviting, private escape. Try these ideas to transform your underused patio into a secluded oasis for lounging and entertaining.

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Mortgage Rates Keep Setting New Record Lows

 

While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers.

Concerns over a second wave of COVID-19 have caused Canada’s 5-year bond yield to fall to its own record-low, which in turn is pulling down fixed mortgage rates.

HSBC Canada led the trend earlier this month when it announced a 5-year fixed default-insured mortgage for 1.99%, the lowest rate ever for a 5-year fixed at the time. There are now multiple brokers offering 5-year fixed rates starting at 1.98%, and even lower in some cases, although those rates entail restrictive conditions.

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CMHC NEW RULES – EFFECTIVE JULY 1ST, 2020

 

On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic. These changes are created “to protect future home buyers and reduce risk” and will take effect July. 1st, 2020.

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Bank of Canada believes this time rate cut will bolster housing market, not fuel froth

 

Bank of Canada Governor Stephen Poloz suggested Thursday that lower interest rates would not send home prices skyrocketing, but could instead help bolster consumer confidence and the housing market amid the spread of the new coronavirus.

Poloz told reporters following a speech in Toronto that the recent “shock” could weigh on people’s minds, possibly prompting them to be more cautious and hold off on making big purchases, a risk the central bank sought to get ahead of.

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New member of our team!

 

Welcome Sarah Robertson as our newest marketing assistant. 

She has joined our team after returning from a year abroad in Taiwan and we couldn't be happier!

We look forward to continuing growing our business and serving our community to the best of our ability. 



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