The Redwood/Raven Reporter
I hope this message finds you well, and 2017 has you off to a good start.
Redwood has been in the business for 28 fun years. This year will be a year of exciting change. The Leafs in the playoffs, the boat in the water, a new corporatedirection, summer weather, the knowledge that my transmission is good for another 200,000K KMs (as the last one exploded in rush hour traffic on the 401), and my daughter getting married.
I would like to announce that Redwood Mortgage will become a licensee of Verico, Canadas largest mortgage network. The lending landscape is changing rapidly, and now is the time to align ourselves with Canadas largest network of mortgage professionals. The Your brand, Your way network system will allow Redwood Mortgage to have access to innovative tools, support devices, industry leading technology and lender accessibility. Some of the large advantages are electronic document storage and an increase in the number of lenders, which leads to moreproducts for you.
Raven Financial Services (Redwoods sister company), will remain totally independent, as previously mentioned Raven specializes in the management of private mortgage portfolios. Raven has doubled in size in the first quarter of 2017. Fly Raven fly!
I would also like to take the opportunity to announce our Marketing Manager and Executive Assistant Natalia Chavez as part of our team. Natalia will be responsible for managing and executing all Marketing projects for Redwood Mortgage and Raven Financial Services. She will also be announcing new exciting news and updates on both Redwood Mortgage Corporation and Raven Financial Services. Natalia will bring a very new approach to our brand with her outstanding skills and extensive knowledge on Digital Marketing.
Lastly, if you want to talk about a mortgage, or refer a friend/family member, or talk about anything really please do not hesitate to call, and I mean this sincerely. Pick up the phone, drop in or send me and e-mail. It is perfectly okay. You know I am a person who loves to get letters in the mail, meet people and talk on the phone.
Robert A. (Bob) Gascon
Redwood Mortgage Corporation FSCO #10288
Employment increased by 35,000 in October
In October, employment rose for youth aged 15 to 24, while it was little changed for the core-aged population of 25- to- 54 year-olds, and for people 55 and older. The largest employment increase was in Quebec, followed by Alberta, Manitoba, Newfoundland and Labrador, and New Brunswick. At the same time, there was a decline in Saskatchewan.
Employment rose in several industries, led by other services; construction; information, culture and recreation; and agriculture. Employment declined in wholesale and retail trade.
The number of private sector employees increased in October, while public sector employment and self-employment were little changed.
Canadian home sales edge up again in October
According to statistics released by The Canadian Real Estate Association (CREA), national home sales posted a modest monthly increase in October but remain below levels recorded one year ago.
Newly introduced mortgage regulations mean that starting January 1st, all home buyers applying for a new mortgage will need to pass a stress test to qualify for mortgage financing, said CREA President Andrew Peck. This will likely influence some home buyers to purchase before the stress test comes into effect, especially in Canadas pricier housing markets. A professional REALTOR is your best source for information and guidance in negotiations to purchase or sell a home during these changing times.
Home sales via Canadian MLS Systems edged up 0.9% in October 2017 on the heels of monthly increases in August and September, but remained almost 11% below the record set in March.
National sales momentum is positive heading toward year-end, said Gregory Klump, CREAs Chief Economist. It remains to be seen whether that momentum can continue once the recently announced stress test takes effect beginning on New Years day. The stress test is designed to curtail growth in mortgage debt. If it works as intended, Canadian economic growth may slow by more than currently expected.