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CMHC Survey Results

By | Calgary Economy, Life, Life Quotes, Mortgage Minute | No Comments

CMHC Survey Results… and a new puppy!

So… first off, I didn’t get this out yesterday because our family was distracted by puppies!  We put a deposit down on a 3 week old miniature schnauzer, scheduled to come home with us mid July.  Our 9 year old schnauzer is going to be a step mom!

And now… back to our regularly scheduled program…

The Canadian Housing And Mortgage Corporation (CMHC) released it’s annual survey results last week.

While the broker channel lost a little market share in the first time home buyers market, it gained some ground with customers in their subsequent mortgage dealings.

Mortgage Broker Market Share

  • 51% of First Time Home Buyers used a mortgage broker (55% last year)
  • 42% of repeat buyers used a mortgage broker (42% last year)
  • 38% refinancers used a mortgage broker (33% last year)
  • 26% renewers used a mortgage broker (21% last year)

Lender loyalty has dropped for renewers (from 86% to 81%) and repeat buyers (from 77% to 73%).

Personally, I am optimistic that as the mortgage broker industry matures, we will continue to see increased market share as clients become loyal to brokers and broker brands instead of banks.

Read the full survey results here:

http://www.mortgagebrokernews.ca/files/file/mortgage-consumer-survey-2016.pdf

BORROWERS:

Full feature, 5 year fixed rates
~ Most Big Bank 5 year fixed rates are around 2.59%.
~ Most Monoline Lender* 5 year fixed rates are around 2.54%.

Basic Feature, 5 year fixed rates
~ Most basic feature mortgages are around 2.44%

Variable rates
~ Most Variable rates are around 2.35%.

*Monoline lenders are lenders that deal only in mortgages. They don’t sell RRSPs, or checking accounts etc.  Mono = 1.

**These rates are generally competitive rates to give you a feel for where the market is at.  Contact me for quick close deals and rate specials!

ECONOMICS:

Calgary Key Market Indicators

Business
~ WTI Crude Oil is at $49.69 this week (last week it was at $49.33).
~ Natural Gas is at $2.47 this week (last week it was at $2.17)

Money
~ Canadian dollar is at $0.78 (last week it was at $0.77)
~ 5 Year bond fell to 0.625  (last week it was at 0.791)
~ Year over year (yoy) inflation in Calgary from April 2015 to April 2016 was 1.4%, March and February were also 1.4% (2.0% in January).
~ Year over year Canadian inflation in April was 1.66% March was 1.27%. February was 1.36%. In January it was 2.01%. In December it was 1.61%. The Bank of Canada preferred bandwidth is 1.0% to 3.0%.

People
~ Calgary unemployment dropped for the first time in a while to 8.3% in April.  It was 8.6% in March. It was 8.4% in February and 7.7% in January.
~ Canadian unemployment in April was 7.1%.
~ Calgary’s population grew by 1900 in April.

LIFE:

“A good friend pours water on the fire of our fears, and throws gasoline on the passions of our dreams.”

– Kris Vallatton

Mortgage Minute – Welcome To My New Website!

By | Life, Mortgage Minute | No Comments

Mortgage Minute – Welcome To My New Website!

I’m very excited to be launching my new website today!  Please tune in for regular posts on topics such as:

  • Mortgage tips and tricks!… Yes!
  • Pictures of food… nope
  • Updates on the Calgary economy and housing market… yes!
  • Updates on where rates are at… yes!
  • Recommended vinyl to add to your record collection… yes!
  • Updates on the Canadian economy… yes!
  • Updates on Megan and I buying another puppy… maybe!
  • Credit tips… yes!
  • Differences between different types of mortgages… yes!
  • Mortgage Features… yes!
  • Mortgage Qualifying criteria… yes!

Let’s plant some seeds!

BORROWERS:

Full feature, 5 year fixed rates
~ Most Big Bank 5 year fixed rates are around 2.59%.
~ Most Monoline Lender* 5 year fixed rates are around 2.54%.

Basic Feature, 5 year fixed rates
~ Most basic feature mortgages are around 2.44%

Variable rates
~ Most Variable rates are around 2.35%.

*Monoline lenders are lenders that deal only in mortgages. They don’t sell RRSPs, or checking accounts etc.  Mono = 1.

**These rates are generally competitive rates to give you a feel for where the market is at.  Contact me for quick close deals and rate specials!

ECONOMICS:

Calgary Key Market Indicators

Business
~ WTI Crude Oil is at $43.33 this week (last week it was at $45.92).
~ Natural Gas is at $2.10 this week ($2.18 last week).

Money
~ Canadian dollar stopped it’s slow climb and dropped from $0.80 US to $0.77 US primarily due to weekend commodity prices (oil & metals).
~ 5 Year bond dropped again to 0.691 (last week it was at 0.879).
~ Year over year (yoy) inflation in Calgary from March 2015 to March 2016 was 1.4%, February 2015 to February 2016 was also 1.4% (2.0% in January).
~ Year over year Canadian inflation in March was 1.27%. February was 1.36%. In January it was 2.01%. In December it was 1.61%. The Bank of Canada preferred bandwidth is 1.0% to 3.0%.

People
~ Calgary unemployment dropped for the first time in a while to 8.3% in April.  It was 8.6% in March. It was 8.4% in February and 7.7% in January.
~ Canadian unemployment in April was 7.1%.
~ Calgary’s population grew by 1900 in April.

LIFE:

“All hard work brings profit, but mere talk leads only to poverty.”
~ Proverbs 14:23