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12060
Victor Catalan Mortgage Broker

Victor Catalan

Mortgage Broker


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2800 Skymark Avenue, Suite 403, MISSISSAUGA, Ontario

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I specialize in helping people with bad credit get a mortgage or help consolidate your debt into your mortgage.

As an experienced mortgage professional, it is my job to get you the mortgage you need at the price that you deserve. I work on your behalf and have access to over 25 different lenders. Let’s work together to get you the right mortgage!  Even if you have credit challenges, call me and let's look at your numbers.


BLOG / NEWS Updates

Foreign entities investing in the housing market.

An intersting article came about regarding the influx of foreign money into the housing market by CBC.http://www.cbc.ca/news/business/housing-market-regulations-1.3479818. I am for regulating the market to foreign money for the following points: The demand for housing is not related to dweling requirement but on investment requirement forcing the prices to go up; common Canadians would not be able to afford these prices resorting to renting and other non-permanent means of dwelling Income from investment properties held by foreign entities are very unlikely invested back into Canada. There is a potential that the revenues generated leave the country - we have no laws to prevent this As more foreign funds come into the housing market, sustainability of the whole market is now in the hands of entities who may chose to abandon or sell their investments. This will affect the whole market as people who opted to buy the property at a higher cost after saving their hard earned money would suffer from a devaluated house price. Banks would be unclear as to the direction of these investment properties - they would not have any solid indicator if a default is emminent. The idea of building house for local consumption or local use should be the priority and should be the focus of the housing market. If there is a large portion of houses owned by foreign entities being used to leverage on a quick and short term profit, it is then no different from the stock market where the later would have regulations on how a sale was done - on properties , you can dispose an asset when you want to. This is not sustainable in the long run.

HSBC clamping down on mortgages for Chinese in the US

Interesting article posted in the web on how HSBC is limiting mortgages for Chinese nationals investing in real estate in the US. See link: http://www.ntnews.com.au/news/breaking-news/hsbc-curbs-mortgage-to-chinese-in-us/news-story/bdceb8723e0bb5ee64e94544e2642f80 In my previous blog, I did state that foreign money flooding the Vancouver and Toronto real estate market is causing the overheated market pricing. An artificial demand for homes drives the prices up and many of them are not even occupied. Chinese nationals are looking for other conduits to park money as their own economy is not really doing well. Investments are being taken out of China and moved to the US and Canada. Will the Canadian banks follow suit and curb foreign nationals from investing in the local canadian housing market? This is a decision the banks would have to make. If they do, the correction in pricing may happen as demand for high end properties would decline. This would create a ripple effect into the whole market. Let us wait and see. I bet they will not. My own opinion based on what I know. You may disagree. Let us just wait and see.

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