AGENT LICENSE ID
M08000873
BROKERAGE LICENSE ID
10252
Rajesh Khurana
Principal Broker
Office:
Phone:
Email:
Address:
1305 Matheson Blvd E, Mississauga, Ontario
Whether you are purchasing a first home or your next home, looking to refinance or purchase an investment property; choosing the right mortgage is an important undertaking. I am there to help you find a finance solution that meets your requirements to ensure you get the right mortgage product.
My experience and passion for helping people is what allows me to work with you to understand the financial situation and get you the best deal.
Contact me with some details of what you are looking for and I can get to work straight away.
BLOG / NEWS Updates
Bank of Canada increases policy interest rate
The Bank of Canada increased its target for the overnight rate to %, with the Bank Rate at % and the deposit rate at %. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds on its balance sheet roughly constant until such time as it becomes appropriate to allow the size of its balance sheet to decline.
The unprovoked invasion of Ukraine by Russia is a major new source of uncertainty. Prices for oil and other commodities have risen sharply. This will add to inflation around the world, and negative impacts on confidence and new supply disruptions could weigh on global growth. Financial market volatility has increased. The situation remains fluid and we are following events closely.
Global economic data has come in broadly in line with projections in the Banks January Monetary Policy Report (MPR). Economies are emerging from the impact of the Omicron variant of COVID-19 more quickly than expected, although the virus continues to circulate and the possibility of new variants remains a concern. Demand is robust, particularly in the United States. Global supply bottlenecks remain challenging, although there are indications that some constraints have eased.
Economic growth in Canada was very strong in the fourth quarter of last year at 6.7%. This is stronger than the Banks projection and confirms its view that economic slack has been absorbed. Both exports and imports have picked up, consistent with solid global demand. In January, the recovery in Canadas labour market suffered a setback due to the Omicron variant, with temporary layoffs in service sectors and elevated employee absenteeism. However, the rebound from Omicron now appears to be well in train: household spending is proving resilient and should strengthen further with the lifting of public health restrictions. Housing market activity is more elevated, adding further pressure to house prices. Overall, first-quarter growth is now looking more solid than previously projected.
3 essential healthy credit card habits
A credit card is only a benefit if you have a good relationship with your spending. Otherwise, your shiny new financial tool can quickly turn into a burden. How do you make sure that doesnt happen? Try these three key money habits.
1. Pay off your purchases
When you use your credit card to make purchases, youre then responsible for paying it off. Each month, youll receive a statement outlining how much youve spent on your card and how much you need to pay off. Paying off the entire balance each month will help you avoid costly interest charges, but if you cant afford that, at least make the minimum payment to prevent a ding on your credit score.
2. Manage your credit utilization ratio
Your credit cards limit is the maximum amount of debt you can carry at one time. Your limit will usually be between $1,000 and $10,000. You shouldnt spend right up to your credit cards limit, though. Getting too close to the limit will negatively affect your credit score due a calculation called your credit utilization ratio. Your credit utilization ratio is a measure of your credit card balance against your total credit limit. To maximize your credit score, keep your credit utilization ratio below 35%. For example, if you have a credit card with a $10,000 limit, try not to carry a balance higher than $3,500.
3. Choose the right credit limit
Choose a credit limit that accurately reflects your spending habits. If you only plan to use your credit card for occasional purchases and online shopping, a few thousand dollars should be enough. If you spend thousands of dollars per month on it, pick a higher credit limit to keep your credit utilization ratio in check. Be realistic about how youll pay it back, as well. If you know that you occasionally carry a credit card balance and incur interest charges, choose a smaller credit limit to minimize the monthly interest youll pay.
Canada's large urban centres continue to grow and spread
In 2021, nearly three in four Canadians (73.7%) lived in one of Canadas large urban centres, up from 73.2% five years earlier.
These large urban centres with a population of 100,000 or more people, referred to as census metropolitan areas (CMAs), accounted for most of Canadas population growth (+5.2%) from 2016 to 2021.
Canada continues to urbanize as large urban centres benefit most from new arrivals to the country. From 2016 to 2019, Canada welcomed a record high number of immigrants and more than 9 in 10 settled in CMAs.
There were six more CMAs in 2021 compared with five years earlier, another sign of the increasing urbanization of the country.
Rapid population growth in cities is increasing the need for infrastructure, transportation and services of all kindsincluding front-line emergency services. Further urban spread also raises environmental concerns such as car-dependent cultures and encroachment on farmlands, wetlands and wildlife.
Source:https://www150.statcan.gc.ca/n1/daily-quotidien/220209/dq220209b-eng.htm?HPA=1
