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My Rates

6 Months 3.10%
1 Year 2.64%
2 Years 2.54%
3 Years 2.84%
4 Years 2.89%
5 Years 2.97%
7 Years 3.14%
10 Years 3.94%
*Rates subject to change and OAC
Diana Lee Owner, Sr. Mortgage Consultant

Diana Lee

Owner, Sr. Mortgage Consultant


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Address:
2nd Floor, 10354 68 Avenue NW (By Appointment Only), Edmonton, Alberta

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Diana Lee - Owner & Sr. Mortgage Consultant
The Mortgage Minds


Welcome to my page! It's a pleasure of mine to get to know my clients on a personal level to have a full understanding of their mortgage and financial needs. Whether it be a budgeting plan to help individuals or families save for a down payment, pay off debts, purchase or refinance a home and/or renew their existing mortgage; I'm here to help. I've never had a "what's in it for me approach" as it really is all about YOU and your comfort level and education about mortgage qualification rules and/or an understanding of different lenders and products. Never hesitate to get my opinion on any mortgage matter. I appreciate your visit :) 


BLOG / NEWS Updates

Construction intentions for multi-family dwellings in Montréal continue to climb

In October, the value of permits for both single-family and multi-family dwellings increased in the CMAs of Montral and Toronto. However, in the Vancouver CMA, both residential components fell, offsetting the gains in September. Municipalities in the CMA of Montral issued $538.1 million in permits for multi-family dwellings in October, higher than in Toronto ($409.2 million) and Vancouver ($330.6 million). In regards to single-family homes, Toronto registered $451.3 million in permits, followed by Vancouver ($148.1 million) and Montral ($122.4 million). The Montral CMA issued permits approving the construction of 2,956 new units, stemming mainly from multi-family dwellings (2,720). October marked the fifth consecutive month where the number of units approved for multi-family dwellings exceeded 2,000. Vancouver approved the construction of 1,860 new units for multi-family homes, while Toronto (1,691) approved fewer despite having a higher value for the component.

Housing Market Digest by Will Dunning, Economist for Mortgage Professionals Canada

The Office of the Superintendent of Financial Institutions (OSFI) now requires that all residential mortgages by federally-regulated lenders must be stress-tested, at two percentage points above the contract interest rate (or the 5- year posted rate, if that is higher). In combination with the requirements for mortgage insurance, about 90% of all new mortgages will be tested. This can be expected to reduce housing activity by 10-15%. It is on top of the impact from recent rises for mortgage interest rates (another 5-10% drop in activity). The combined 15-25% drop in housing activity will affect the broader economy. In two years, employment could be 150,000-250,000 lower than it would otherwise be. There is a risk that house prices will fall. In a modern economy, a sustained drop in house prices is one of the most dangerous things that can happen: as happened in the US a decade ago, falling house prices can turn into widespread economic decline. Resale activity recovered a bit more in September, to 492,900, due to partial rebounds in BC and Ontario. Activity is flat in most other areas. CREAs House Price Index was flat in September. The year-over-year change is now 10.7% (down from the peak of 19.7% that was seen in April). The sales-to-new-listings ratio (SNLR) was 55.7% in September, slightly above the balanced market threshold of 51%. This indicator points to an outlook for stable prices (at worst). But, as noted, OSFIs stress test policy creates a risk of falling prices. We should, in general, expect that resale activity will trend upwards over time, because the population is growing and the housing inventory is expanding. Therefore, it is useful to look at sales on a per capita basis. Recent activity is below the long-term average.

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