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My Rates

6 Months 3.10%
1 Year 2.99%
2 Years 2.94%
3 Years 2.99%
4 Years 3.29%
5 Years 3.34%
7 Years 3.84%
10 Years 4.39%
*Rates subject to change and OAC
AGENT LICENSE ID
M17000664
BROKERAGE LICENSE ID
11931
Walter Fernandes Mortgage Agent

Walter Fernandes

Mortgage Agent


Phone:
Address:
1515 Rebecca Street, Oakville, Ontario

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Welcome to Zoom Mortgage. Here you will find the best Customer Service and support to help you along the way from your Mortgage Application to Closing of your mortgage. We do all types of Mortgages from Residential, Commercial and Investments.  

 

There are generally two ways to get a mortgage in Canada, either from a bank or from a licensed mortgage professional.

 

While a bank only offers the products from their particular institution, Zoom licensed mortgage professionals have access to Canada's largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to hundreds of mortgage products! As a result, clients benefit from the Variety of offerings, trust, confidence, and security of knowing they are getting the best mortgage for their needs.

 

Whether you're purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it's important that you are making an educated buying decision with professional unbiased advice.

 


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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