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
Statistics Canada: Familial support in entering the Canadian housing market
Owning a home remains a critical source of wealth accumulation for many Canadian families, with real estate equity representing 42% of overall household wealth in 2023. The link between homeownership and wealth creation is even more pronounced for younger families, with housing assets accounting for nearly half of total wealth. As housing affordability deteriorated, the barriers to homeownership have become increasingly prohibitive, particularly for those without familial support. In 2019, 3 in 10 homeowners reported receiving an inheritance at a median value of $67,000, while 2 in 10 renters received a median value of $33,000. As home values appreciated strongly throughout the COVID-19 pandemic period, so too did inheritances for homeowners. By 2023, the median inheritance Canadian homeowners received had risen to $85,100.
A looming wave of interfamilial wealth transfers is set to occur as baby boomers age, putting those with familial means in a more secure financial situation than those without. A wealth transfer in the form of an inheritance, whether from a living or deceased relative, is just one way many homeowners have benefited from familial support when entering the housing market. Other forms of assistance, such as receiving partial or full downpayment gifts, borrowing from family members rather than a bank, or receiving intergenerational property transfers, are also potentially important forms of familial support and are reported in Statistics Canadas Survey of Financial Security.
Across all age cohorts, 5% of families were living in a home that was acquired in full or in part from a gift or an inheritance, and 9% reported that at least some of the downpayment for their home had been from a gift or an inheritance. When combined with those who borrowed from family and friends rather than a financial institution to purchase their home, the overall share of homeowners who benefited from an inheritance or other types of familial support to enter the housing market rose to 4 in 10.
https://www150.statcan.gc.ca/n1/pub/36-28-0001/2025003/article/00001-eng.htm
Scotiabank: Canada’s Poor Productivity a Key Driver of Higher Home Prices
From Scotiabank
HIGHLIGHTS
Canadas housing market has been on a roller coaster ride since the pandemic as reflected by the profile for real private investment in residential structures, housing starts, sales and prices over this period.
Housing affordability worsened significantly over this period with house prices reaching historical highs and mortgage rates increasing with the tightening in monetary policy since early 2022. Indeed, over this 5-year period home ownership affordability pressures have reached degrees like those witnessed in the early 1980s.
Using Scotiabank Economics macro-econometric model of the Canadian and U.S. economies, we estimate that tightening supply constraints in construction from 2019Q3 to 2024Q4reflecting weakening productivity and rising construction material costsand above-normal population growth since 2022 each contributed to raise the benchmark MLS Home Price Index (HPI) a bit more than $50,000 over that 5-year period.
This implies that if supply constraints had not tightened and population growth had stayed near its long-term average, the benchmark MLS HPI would have been slightly below $616,000 instead of the near $719,500 posted for 2024Q4.
Our assessment and results strongly press the need to work on improving productivity to achieve housing affordability. Indeed, reducing bureaucratic burdens will also make housing supply more responsive to demand, thereby reducing price increases for a given rise in demand in the future.
From 2024 to 2026, weaker population growth and uncertainty about trade barriers and their economic impact will reduce demand for homeownership. We forecast housing resale activity will slow in 2025 and 2026, declining from near 483,000 in 2024 to about 459,000 in 2026.
Tight supply constraints will contribute to raise house prices especially in 2026 and mitigate progress on affordability from the past decline in interest rates and robust growth in real income. We expect the MLS House Price Index to rise by 0.4% in 2025 and 7% in 2026 with still-elevated supply constraints and pressure from the existing dwelling shortage.
Of course, this expected profile for housing sales, starts and prices would be weaker if additional tariffs announced by the U.S. turn out more important than assumed in this forecast.
https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.housing.housing-note.housing-note--march-19-2025-.html
CMHC: Core housing need and gender
Canadian Housing Survey shows women are more likely than men to be in core housing need.
Overall, women were more likely to be in core housing need than men.
Women experienced higher rates of core housing need in almost all age groups. However, the disparity was greatest between senior women and senior men over the age of 75.
Racialized women had higher rates of core housing need than non-racialized women.
Women-led, one-parent households had higher rates of core housing need than men-led, one-parent households.
Women living alone not in a census family were more likely to be in core housing need than couples with and without children.
Core housing need highlights the challenges many Canadians face in finding safe, suitable and affordable housing. Core housing need occurs when a household falls short of one or more housing standards adequacy, suitability or affordability and would need to spend 30% or more of its before-tax income to access housing that meets all 3 standards. Core housing need rates are often provided at the household level as the impact is felt by all individuals living in the household.
According to the Canadian Housing Survey, approximately 1.7 million households (11.2%) were assessed to be in core housing need in 2022. This translates to approximately 3.3 million individuals (9.1%).
https://www.cmhc-schl.gc.ca/blog/2025/core-housing-need-gender
