Anchor Mortgages Canada LTD
31518 Homestead Crescent V2T 6S7 Abbotsford, BC, Canada

https://betterdwelling.com/one-of-canadas-biggest-real-es/

https://betterdwelling.com/canadas-largest-real-estate-ma/

https://betterdwelling.com/real-estate-sales-soar-in-ever/

HAPPY NEW YEAR FROM ANCHOR FAMILY TO YOU AND YOUR FAMILY

https://betterdwelling.com/toronto-real-estate-forecasted/

https://betterdwelling.com/toronto-and-vancouver-see-mort/

https://dailyhive.com//translink-surrey-langley-skytrain-s

Record Home Sales in July The Fraser Valley Real Estate Board saw the second-highest number of both property sales and new listings ever recorded in July. There were a total of 2,100 sales in July, an increase of 22.2 per cent compared to sales in June and an increase of 44 per cent compared to the 1,458 sales during July of last year. Julys sales were 25.5 per cent above the ten-year average for July and second only to July 2015.... The sentiment is that there was pent-up demand from what would have been a strong spring market with near record-setting low interest rates. In some markets the lack of supply and increase in demand is putting upward pressure on home prices. The average price of a detached home in the Fraser Valley set a record high in July breaking the previous record set two years ago. The Fraser Valley Board received 3,549 new listings in July which was a 26.9 per cent increase compared to July of last year. Julys new listings were 18.3 per cent above the ten-year average for the month and second only to July 2008. Last month finished with 7,341 active listings, an increase of 3.9 per cent compared to Junes inventory and a decrease of 12 per cent year-over-year. In July, the average number of days to sell an apartment was 34. It was 28 days for townhomes and 34 days for single family detached homes. During the spring, many homebuyers were holding off on purchase plans as they were unsure about their employment situation. As we slowly pull out of the government lockdown and employment is stabilizing for most people, they are now back to purchasing in what is definitely a delayed spring market. WE ARE OPEN! Please note while many banks have closed branches or reduced hours we are still here to serve you and are operating at full capacity. If you need more information regarding mortgages or if you need any advice on your personal situation please contact our office at 778-880-2345 or email at [email protected]. For more information on our mortgage products and your preferred Abbotsford Mortgage Broker please visit our website at www.anchormortgage.ca.

https://torontosun.com/news/national/cerbs-ending-now-what

For all your financial needs. Please call 778-255-4292 or email at [email protected].

https://m.youtube.com/watch?feature=share&v=S0oERzUFmcY

https://bit.ly/3kuCrxT

https://www.canadianmortgagetrends.com//mortgage-rates-ke/

https://www.bankofcanada.ca//targeting-inflation-during-/

Call or email me for more detail... 778-255-4292 or [email protected].

https://www.ctvnews.ca//genworth-canada-says-it-won-t-foll

CMHC Mortgage Rule Changes Coming Below is a brief analysis of the recently announced CMHC changes from our national head office. CMHC announced more restrictive underwriting criteria that will apply to new applications for homeowner purchases effective July 1, 2020. We recently argued against tinkering with mortgage underwriting criteria in light of the COVID-driven housing market slowdown. While we maintain that view, the reality is these changes are here to stay and they w...Continue reading

https://ca.finance.yahoo.com//real-estate-canada-mortage-r

https://business.financialpost.com//bank-of-canada-holds-r

http://www.fvreb.bc.ca//housing-market-activity-picks-up-/

https://dailyhive.com/vanco/bc-increase-minimum-wage-june-1

https://blog.remax.ca/no-nosedive-ahead-for-canadian-real/

https://www.mortgagebrokernews.ca//bank-of-canada-to-drop-

https://m-huffingtonpost-ca.cdn.ampproject.org//mortgage-/

Residential Market Commentary - Home sales fall, debt worries rise May 19, 2020 Be the expert ... The latest statistics from the Canadian Real Estate Association are stark but they should not be surprising. April sales hit a 36-year low, down nearly 57% from a month earlier and down almost 58% year-over-year. As with March, though, average prices remained steady. Compared to a year ago the national average dipped 1.3% to just over $488,000. With Toronto and Vancouver taken out of the calculation the national average drops by nearly $100,000. CREA points out that its composite Home Price Index shows an increase of almost 6.5% YoY. The association is not offering any forecasts on sales or prices going forward. As the COVID-19 pandemic continues to run roughshod through the housing market, the Bank of Canada is repeating its concerns about high household debt. The Bank sees the number of vulnerable households those that put more than 40% of their income toward debt payments increasing and falling behind on loan payments. Calculations by the BoC indicate that up to one-in-five home-owning households do not have enough money to cover two months of expenses. One-third do not have enough to cover four months. Some 700,000 households have received deferrals, so far. The central banks projections see the mortgage arrears rate climbing by about 0.8%, peaking next year when payment deferral plans offered by lenders start to expire. This is the Banks current, worst case scenario. The current mortgage arrears rate stands at just 0.2%. For more information or your financial needs, please contact me on [email protected] or 778-255-4292. You can visit me on www.kalotimortgages.com.

Mortgage Rates Reverse Direction After seeing mortgage rates increase for about a month due to market conditions they started coming back down in the last few weeks. With the onset of Covid-19, investors and lenders became nervous and the money supply tightened forcing rates to increase. In fact, we saw rates increase over % in the first few weeks of April. Now in the last few weeks things have settled down somewhat and rates have now reversed course.... Also, there is less business out there this spring for lenders as purchases have dropped fairly significantly. We are therefore seeing more discounts now as banks compete for a bigger share of a smaller pie. In terms of rates the best rates are available for purchases with less than 20% down. From there, rates can fluctuate significantly with different rates for purchases with 20% down, refinances and renewals. If you are looking for a quote its best to contact us as every lender has different rate scenarios for all of these options. WE ARE OPEN! Please note while many banks have closed branches or reduced hours we are still here to serve you and are operating at full capacity. If you need more information regarding mortgages or if you need any advice on your personal situation please contact me at 778-255-4292 or email at [email protected]. For more information on our mortgage products and your preferred Abbotsford and Fraser Valley Mortgage Broker please visit our website at www.kalotimortgages.com.

https://www.theglobeandmail.com//article-how-the-oil-plun/

April 2020 Infoletter Mortgage Qualification Tightening With the Covid-19 virus in full swing there has been a wild ride in the mortgage market of late. This has included mortgage qualification rules tightening along the way.... Changes are happening on almost a daily basis. We saw Prime Rate drop 3 times in a month and then lenders get rid of their discounts on variable rate mortgages. This meant that a fair bit of the prime rate drop did not get passed along to consumers. We also saw fixed rates drop and then go up almost 3/4% of a percent in under a month. In addition to this lenders have tightened mortgage qualification rules as they worry about clients not being able to make their payments. Lenders are calling businesses and checking online to make sure employers are still fully open as a precaution. Some lenders are requesting all income documents up front as well as income documents again one week prior to the closing of a mortgage. Clients that work in industries that are deemed non-essential are getting their applications heavily scrutinized as lenders worry that they may close at any time. This means that what was once easy to qualify for a month ago may be tougher at this time. Given this information and social distancing guidelines we have seen less sales in the market in the last few weeks. Prices may come down accordingly depending on how long this lasts for. If at this time you are considering to refinance your home now is the time to seriously look at it. If you get laid off temporarily and go on Employment Insurance (EI), lenders wont consider your income in qualifying for a mortgage. Also refinances are limited to 80% of the value of your home so if prices drop this may reduce what you can borrow as well. WE ARE OPEN! Please note while many banks have closed branches or reduced hours we are still here to serve you and are operating at full capacity. If you need more information regarding mortgages or if you need any advice on your personal situation please contact me at 778-255-292 or email at [email protected]. For more information on our mortgage products and your preferred Abbotsford Mortgage Broker please visit our website at www.kalotimortgages.com

$2,000/Month CERB. ARE YOU ELIGIBLE ? Canadian Emergency Response Benefit (CERB). Fact Sheet (this is what we know at this time) Who can apply for the CERB? Any resident of Canada who is 15 years old or older, and who, for 2019 or in the 12-month period preceding the day on which they make an application has a total income of at least $5,000 from:...Continue reading

As we are all aware, COVID 19 or Coronavirus has dramatically changed the outlook for a lot of people in Canada and around the World. We hopes everyone is staying safe and doing what they can to stop the spread of the COVID-19 virus. We have taken steps to do our part in the prevention of the spread of COVID-19 and we will continue to be available to assist our valued clients and business partners with the majority of our operations being online. ... We will be available and happy to assist with your files, please call us at 778-255-4292 or send in your requests or files to [email protected]. Stay home, stay safe!!!

https://www-cbc-ca.cdn.ampproject.org//www.c/amp/1.5512098

Bank of Canada lowers rates again and launches two debt market support programs Mar 27, 2020 Be the Expert www.Kalotimortgages.com...Continue reading

https://www.iheartradio.ca//deferrals-credit-scores-and-in

http://nationalpost.com//12e44638-139a-4dbe-bebd-6da229510

https://www.canadianmortgagetrends.com//boc-delivers-emer/

https://www.canadianmortgagetrends.com//state-mortgage-ma/