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It PAYS to shop around.

Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

But I’m here to help!

As your personal mortgage consultant, I’m an independent, unbiased, expert, here to help you move into a home that you will love.

I have access to mortgage products from a multitude of lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m your personal mortgage consultant who will help you get the right financing, from the right lender, at the right rate. 

Please call me today for your best mortgage solution and advice.   Phone: 604.802.8193

BLOG / NEWS Updates

Aug 21

2014

Summer flooding in Prairies pegged at over $60 million in insured damage

Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by heavy rains and high winds across southern Saskatchewan and Manitoba in late June and July was just over $60 million, according to Property Claim Services (PCS). The flooding, wind damage and transportation disruptions caused by these storms disrupted peoples lives and businesses, said Bill Adams, IBC Vice-President, Western and Pacific. People were forced from their homes, roads were flooded and crops were destroyed. These storms are another example of the toll severe weather events are taking on Canadian families and communities. Parts of southeast Saskatchewan and areas of western Manitoba reported heavy rain fall. States of emergency were called in both provinces. Hundreds of residents had to leave their homes and dozens of roads were impassable due to flooding. Sections of at least 15 highways, including portions of the TransCanada Highway, were closed due to the flooding. The rain also led to record flow levels on rivers and streams in both provinces. The insurance industry continues to spread the word about the need to update infrastructure, to engage consumers on how to protect themselves and their properties against severe weather. The industry is also working with all three levels of government to help develop, promote and implement adaptation measures, Adams said. He also reminded residents that most insurers offer a 24-hour claims service for filing claims. Claimants should give as much detail as possible when providing information to their insurers, he said.

Aug 18

2014

Canadian home sales edge higher in July

Highlights: National home sales rose 0.8% from June to July. Actual (not seasonally adjusted) activity was 7.2% higher than July 2013 levels. The number of newly listed homes edged up 0.4% from June to July. The Canadian housing market remains in balanced territory. The MLS Home Price Index (HPI) rose 5.3% year-over-year in July. The national average sale price rose 5.0% on a year-over-year basis in July. The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations rose 0.8 per cent on a month-over-month basis in July 2014, marking the sixth consecutive monthly increase and the highest level for sales since March 2010. (Chart A) Sales activity rose in about 60 per cent of all local housing markets in July, led by gains in Victoria, Winnipeg, London and St. Thomas, and Ottawa together with broadly-based increases in Quebec and New Brunswick. On the surface, national sales activity in July was similar to what we saw in May and June, said CREA President Beth Crosbie. That said, July sales picked up in markets that struggled to gain traction in the spring, while activity eased slightly in some of Canadas largest urban markets. As always, all real estate is local and whether youre looking to buy or sell, your local REALTOR is your best source of information on all the factors driving the market where you currently live or might like to in the future. Actual (not seasonally adjusted) activity in July stood 7.2 per cent above levels reported in the same month last year. July sales were up from year-ago levels in about 70 per cent of all local markets, led by Greater Vancouver and Fraser Valley, the Okanagan region, Calgary, Winnipeg, Greater Toronto, Hamilton-Burlington, London and St. Thomas, and Ottawa. For the year-to-date, sales activity is up 4.7 per cent compared to the first seven months of 2013 and in line with the 10-year average for the period. The number of newly listed homes edged up 0.4 per cent in July compared to June. The number of markets where new listings rose was equal to the number where they declined. Regina, Winnipeg, Greater Toronto, Windsor-Essex, Ottawa and Montreal posted the biggest monthly increases in new listings, which offset fewer new listings in Fraser Valley, Calgary and Fredericton. New listings and sales activity trends have closely tracked each other since February. Many new listings have come on stream in markets with tight supply and continuing demand. As a result, the strength of sales in recent months likely reflects how many properties were snapped up once they finally hit the market following the harsh winter that caused sales and new listings to be deferred. Low mortgage interest rates continue to bolster home sales activity, said Gregory Klump, CREAs Chief Economist. With the Bank of Canada widely expected to hold interest rates steady until next year, mortgage financing will remain attractive over the second half 2014 and continue to support Canadian economic growth while waiting for Canadian exports and investment to improve. The national sales-to-new listings ratio was 53.6 per cent in July, little changed from 53.4 per cent June and 53.2 per cent in May. This remains firmly entrenched within the range from 40 to 60 per cent that marks balanced market territory. The ratio has remained within short reach of its current level for more than four years, averaging 52.6 per cent since the beginning of 2010. Just over half of all local markets posted a sales-to-new listings ratio in this range in July. Of the remainder of markets, more than half were sitting above the 60 per cent threshold that marks the border between balanced and sellers market territory, many of which are found in Alberta and Southern Ontario.

Aug 14

2014

Soft Landing Still Likely for Canadian Condo Market

Population, economic and employment growth all point to a stabilizing of the Canadian condominium market, according to the latest Conference Board of Canada condo report commissioned by Genworth Canada. The Summer 2014 Metropolitan Condo Outlook forecasts that while pockets of higher risk still exist in Toronto and Vancouver, a broad-based downturn is unlikely. The report findings align with our view that the condo market is stabilizing and that demographics and affordability continue to drive demand said Stuart Levings, Chief Operating Officer of Genworth Canada. As a result of our prudent underwriting standards, our portfolio quality in this market remains strong and we see value in partnering with our customers to meet the evolving needs of young urbanites. Despite modest price gains over the next two years in all eight cities studied in the report, increases in average household incomes will help to keep mortgage costs affordable. Continued growth in immigration, affordability pressures in major cities, and aging baby-boomers looking to downsize are all factors that support continued demand for condominiums in urban centres. Our research has long shown that the strong underlying economic factors in Canada would help most condominium markets achieve a soft landing said Robin Wiebe, Senior Economist at the Centre for Municipal Studies at The Conference Board of Canada and co-author of the report. Despite fluctuating sales and listing trends, markets are expected to be balanced across the country, with a slight lean towards the buyer in Ottawa, Montreal and Quebec City.

Aug 12

2014

CMHC’s Survey of Condominium Owners in Toronto and Vancouver

Canada Mortgage and Housing Corporation (CMHC) released the results of its 2013 Condominium Owners Survey today showing that 82.9% of the condominium owning households surveyed reside in their unit and 17.1% are condominium investors. As information on condominium investment is rather limited at this time, CMHC has gathered new data on a segment of domestic condominium investment activity in Toronto and Vancouver. While the results are not representative of other markets or all types of investors, the survey helps to shed some light on the profile and purchasing motivations of a segment of condominium investors in Toronto and Vancouver, said Bob Dugan, Chief Economist at CMHCs Market Analysis Centre. The survey found that about half of the surveyed condominium investors in Toronto and Vancouver rent out their last purchased unit. CMHCs survey also found that of the surveyed condominium investors in Toronto and Vancouver: 58.4% expect to keep their last purchased unit for more than 5 years; 17.9 % for 2 to 5 years; 7.6% for less than two years, and 16.1% did not know or answer; 11.9% of respondents said they bought their last secondary condominium unit with the intention of reselling it for a profit within a year of purchase. In addition, at the time of the survey, 42.1% of the Toronto and Vancouver investor households that were surveyed had no mortgage on their last purchased condominium unit. A total of 42,426 households, which owned their primary residence in the Census Metropolitan Areas (CMAs) of Toronto and Vancouver, were surveyed in August and September of 2013. A subset of these condominium owners who own a secondary condominium unit are defined as condominium investors. Their primary dwelling can be either a condominium or a freehold1 unit. The 2013 Condominium Owners Survey gathered data to report on the extent of the activity of this sub-set of domestic condominium investor households in these two CMAs. This definition excludes households that own only one condominium unit in which they reside, as well as households that own a secondary unit but rent their primary unit. The survey did not cover Canadian households that own condominium units in Toronto or Vancouver but do not reside in these CMAs. Foreign investors, and corporate investors are also not covered by the survey. CMHC continues to explore opportunities to enhance the availability of information on foreign and corporate investment activities in the housing market, added Dugan. Results from the Condominium Owners Survey for Toronto and Vancouver were merged to increase their statistical reliability. The full text of this report is available at http://www.cmhc.ca/od/?pid=68161

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