It is simple, when purchasing a home and need a mortgage; you can go to a local bank and accept one of their products only available to that institution. Or you can sit down with myself, Michael Giligson, a proud member of the Xeva Mortgage team, that has access to a wide range of lenders that will be competing for your business therefore offering a variety of products for you to choose from and the best interest rates possible with the best terms. It is a benefit to use me, a member of the Xeva Mortgage Team as we have access to more than 40 lenders including Canada’s largest banks, Credit unions, Trust Companies and private lenders. We give you unbiased advice and take the time to go through all your financing options. I will make sure you get the best mortgage available for your needs. I am here to work for you, not the banks.
Our team has more than 140 years of combined experience in the Banking and Real Estate Market. We utilize our expertise to cut through all the clutter and confusion, acting as a liaison between the lender, realtor, appraiser, credit agency, lawyers, and any other service-providers that could affect your transaction. Through our knowledge and experience we help you make sense of everything you may have trouble understanding. We know that it's especially important given the fact that your home is one of your single biggest investments. Michael utilizes an entire team that work with him at Xeva Mortgages to provide support and strength with clients' applications.
In most cases, we are paid directly by the Lender so there is no cost to our clients, and because we don't get paid until the mortgage is fully completed, we are highly motivated to move your mortgage application quickly through all the required channels. We work for you and not the banks. We are committed to finding you the best mortgage financing options available to you and that are tailored to your specific financial goals.
We are also on top of all the latest trends and innovations in our industry - from the status of interest rates to the availability of alternative financing options. With our superior technology and commitment to taking care of our clients after the transaction, you can be assured that not only now, but in the future, you will always have the best rates and products available by using Michael Giligson and Xeva Mortgage.
The difference of even a 0.25% on a mortgage can result in thousands of dollars’ worth of savings over the life of your mortgage and allowing you to be mortgage free years sooner.
Further information about Financial Planning; Life Insurance and Investments can be found at Rethinkfinancial.com
Statistic Canada: New Housing Price Index, January 2025
New home prices continued slowdown in January
The national index edged down 0.1% on a month-over-month basis in January, following the same decline in the previous month. Prices were unchanged in 15 out of the 27 surveyed census metropolitan areas (CMAs). Meanwhile, nine CMAs saw an increase, while three CMAs were down. Even though more CMAs recorded price increases in January, a decline was seen at the national level. This decrease was driven by Toronto (-0.4%), the largest new housing market in Canada, accounting for nearly one-quarter (23.6%) of the national weight.
The largest month-over-month decrease of new home prices in January was recorded in Ottawa (-0.5%), followed by Toronto (-0.4%) and Edmonton (-0.2%). The weight of these three CMAs accounts for 38.8% of the national index. The latest new housing sales figures show a slowdown in the Ottawa and Toronto markets. Data collected from the Greater Ottawa Home Builders Association shows a 21.2% monthly decline in sales of new detached houses and townhouses in December 2024. In the case of Toronto, Altus Group reported a decline in new single-family home sales (-68.6%) in December 2024.
The largest monthly increases in January 2025 were registered in Saskatoon (+0.6%) and St. CatharinesNiagara region (+0.6%), followed by Qubec (+0.5%) and Winnipeg (+0.4%). Reduced borrowing costs fuelled the demand for housing in the CMAs where prices were relatively more affordable. The Canada Mortgage and Housing Corporation reported declines in inventory of completed and unsold single-family homes in Qubec (-10.8%) and Winnipeg (-3.3%) in December 2024 compared to the previous month.
https://www150.statcan.gc.ca/n1/daily-quotidien/250220/dq250220c-eng.htm
TD: How likely is another Bank of Canada rate cut in March?
With the second Bank of Canada (BoC) rate announcement this year around the corner on March 12, many Canadians are eager to see if the central bank will cut its lending rate again.
In January, the BoC cut its lending rate by 25 basis points, bringing it down from 3.25% to 3%.
So, is more rate relief on the way? According to TD Economist Derek Burleton, the BoC is likely to cut its lending rate at the upcoming announcement by 25 basis points.
We are anticipating a follow-up cut in March, and TD Economics predicts the central bank will bring its lending rate down to 2.75%, Burleton said.
Since the inflation data came out a few weeks ago, market odds of a cut fell as low as 30%, but have since jumped to 90% following the imposition of U.S. tariffs on Canadian exports. So, while theres still a chance that the central bank will announce a rate hold, there is a growing consensus that a cut is in store.
Burleton explained that the Bank of Canada needs to help prepare for the economic risks on the horizon especially around tariffs.
Even with recent reports showing a resilient job market and robust GDP growth in Canada, the central bank needs to ensure the economy is prepared for U.S. tariffs to hit Canadian exports, he said.
https://stories.td.com/ca/en/article/will-bank-of-canada-cut-interest-rates-march-2025
Statistic Canada: Investment in building construction, December 2024
Overall, investment in building construction rose 1.9% (+$408.1 million) to $21.8 billion in December, with gains recorded across all components. The residential sector grew 2.2% to $15.1 billion while the non-residential sector was up 1.3% to $6.7 billion. Year over year, investment in building construction grew 4.7% in December.
On a constant dollar basis (2017=100), investment in building construction increased 1.5% from the previous month to $13.0 billion in December and was up 1.6% year over year.
Multi-unit component drives residential sector gains in December
Investment in residential building construction was up 2.2% (+$323.9 million) to $15.1 billion in December.
Single family home investment edged up 0.8% (+$60.7 million) to $7.3 billion in December, marking its fifth consecutive monthly increase.
Investment in multi-unit construction rose 3.5% (+$263.2 million) to $7.7 billion in December, rebounding from two significant and consecutive monthly declines.
https://www150.statcan.gc.ca/n1/daily-quotidien/250213/dq250213a-eng.htm
