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My Rates

1 Year 2.99%
2 Years 3.24%
3 Years 3.44%
4 Years 3.54%
5 Years 3.44%
7 Years 3.44%
10 Years 3.99%
*Rates subject to change and OAC
AGENT LICENSE ID
M09000057
BROKERAGE LICENSE ID
10349
Tim Fong Broker & Director of Sales and Development for Northwood Dream Team

Tim Fong

Broker & Director of Sales and Development for Northwood Dream Team


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Address:
7676 Woodbine Avenue, Suite 300, Markham, Ontario

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Welcome and thank you for taking the time to visit my website.

 

If you are looking to achieve your dream of home ownership or looking to achieve debt and financial freedom, please feel free to give me a call.  My objective is to provide sound mortgage advice and strategies to reduce your overall debt, free up cash flow and minimize interest costs.

 

Feel free to also follow me via social media for the icons above.

 

To the left, you can view references from my past clients to see the additional value I bring compared to your typical banker.   

 

If you have any questions, comments or concerns, please feel free to call or email me directly. I will always be happy to assist and I look forward to helping you with your financing needs.

 

Thank you, Tim

 


BLOG / NEWS Updates

Canadian home sales fall in April

Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018. Highlights: National home sales fell 2.9% from March to April. Actual (not seasonally adjusted) activity was down 13.9% from April 2017. The number of newly listed homes declined 4.8% from March to April. The MLS Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y). The national average sale price declined by 11.3% y-o-y in April. National home sales via Canadian MLS Systems declined by 2.9% in April 2018 to the lowest level in more than five years (Chart A). About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal. Actual (not seasonally adjusted) activity was down 13.9% compared to April of last year and hit a seven-year low for the month. It also stood 6.9% below the 10-year average for the month. Activity was below year-ago levels in about 60% of all local markets, led overwhelmingly by the Lower Mainland of British Columbia and by markets in and around Ontarios Greater Golden Horseshoe (GGH) region. The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment continued to cast its shadow over sales activity in April, said CREA President Barb Sukkau. Its impact on housing markets varies by region, she added. A professional REALTOR is your best source for information and guidance in negotiations to purchase or sell a home during these changing times, said Sukkau. This years new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador Provinces, said Gregory Klump, CREAs Chief Economist. This is exactly the type of collateral damage that CREA warned the government about. As provinces whose economic prospects have faced difficulties because they are closely tied to those of natural resources, it is puzzling that the government would describe the effect of its new policy as intended consequences. https://www.crea.ca/news/canadian-home-sales-fall-in-april/

First quarter: The value of multi-family dwellings leads the rise

Canadian municipalities issued $24.9 billion worth of building permits in the first quarter of 2018, up 3.3% compared with the fourth quarter of 2017. Construction intentions for residential dwellings led the national increase, rising 6.9% from the fourth quarter of 2017 to $15.9 billion in the first quarter of 2018. The 18.4% increase of the multi-family component more than offset a 3.5% decline in the single-family component. On the other hand, the value of non-residential building permits fell 2.6% from the fourth quarter of 2017 to $9.0 billion in the first quarter of 2018. The drop was the result of lower activity in both the industrial and institutional components.

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