I am 70 years young in Feb 2020.I started our company over 30 years ago out of my gargage. Last year I sold my interest in the company to four of our agents, including my daughter and formed the Matthey Mortgage Team. Freed from the responsibilities of management I am now able to concentrate on what I love to do and that is helping homeowners and homebuyers strategically deal with their mortgage.
My son, Chris, my daughter, Karen and Karen Schmidt, comprise the Matthey Mortgage Team. Chris has been a mortgage agent for 8+plus. Karen's background is in International Finance and has been an agent for 5 years. Karin Schmidt has a 20+ year banking background and is our client services manager
Our speciality is First Time Buyers, but we cover a wide range of financing options for all types of situations.The new First Time Homebuyers plan may also help a new homebuyer qualify when they maybe wouldn't normally.
Lately, I have been seniors , who own their own home, improve their lifestyles by showing them the advantages of a Reverse Mortgage. I am also a "Reverse Mortgage Specialist". Now Reverse mortgages are not for everybody but they are a godsend to many people. There are so many misconceptions about a Reverse Mortgage.My experience with all types of financing options and my age and stage in life allows me to talk to seniors on a "Senior to Senior" basis to guide them on the best financing options for their stage in life, with the Truth and Nothing ut the Truth.
If you are military, you may have seen news stories on huge mortgage penalties paid by members to their Bank, when posted. You may qualify for our "Freedom Mortgage" for military that offers no penalty when you produce a posting notice inside or outside of Canada.
If you are a First Time Buyer , we have the most comprehensive guide available for you that you can order on line. Just send an email to brian@mtgprof.com under the heading "First Time Buyers Guide Please"
I am proud to have been a nationally and locally award-winning Mortgage Broker for over 30 years in the Kingston area. I have been one of the broker/owners of our company over the same time period. I have been ranked in the Top 3 as a Mortgage Broker in the Kingston This Week's Reader's Choice Awards for the past several years, and in the fall of 2013, I was proud to be inducted into the Canadian Mortgage Hall of Fame with Mortgage Professionals Canada.I was alos included in Canadian Mortgage Professional magazine in their Hall of Fame in 2019
There are many ways to contact us if you have a question. You can text us direct at 613-561-2719. You can email us at brian@mtgprof.com You can also access us Face2Face(F2F) through Apple Facetime by dialing 613-561-2719. The last option works well with our clients for any questions, they have on their mortgage, before, during or after closing.
It is our belief that our job does not end with your mortgage approval. We support you through changes in your life and lifestyle and we are there to guide you into the nest mortgage product that benefit you, not the lender.
We would love to hear from you.
The majority of our business comes from referrals, which is a great reinforcement that people appreciate the job that we do. Our job is not just to get you a great rate (although we do that too!) - it is to explain the home buying and mortgage process to you, clearly explain the terms and conditions of your mortgage to you (so unlike with the bank you're not suddenly hit with a shocking penalty you had no idea could happen) and keep you informed about where rates and the economy are going.
You can find us on Facebook at:https://www.facebook.com/MattheyMortgageTeam/
You can find Open Houses and New Listings in the Kingston area here:https://www.facebook.com/buysellshowkingstonrealestate/
You can find Waterfront Open Houses and Listings here:https://www.facebook.com/YGKWaterfrontproperty/
BLOG / NEWS Updates
In My Wildest Dreams-Reflections.....................
A pause to reflect on 30 + years with the Mortgage Pros
Nobody makes it on your own in this business.
It takes a team of people and it takes a family commitment to sometimes put up with long hours, days away on education, training and conferences. It takes coworkers who work in the background and partners you may or may not agree with all the time. It takes lending partners who have to be treated with respect as they are there to help you be successful. When you start out, it takes worrying about where the first and next dollar will come from but deciding to invest your time in not worrying and making it happen.
It means taking a chance. It takes stepping outside the box to try things. It takes failing time and time again and then working on why and looking into yourself. It takes working on being successful and improving on the things you do continually rather than sitting back. It takes listening. Something I was not the best at a lot of the time. It takes stepping up to become involved in your industry in promoting it and strengthening it. It takes a commitment to be the best you can be for your company and your clients and analyzing all the time whether you are accomplishing that goal.
I never thought in my wildest dreams that when we opened the doors of our business in 1989 a receptionist and two coworkers, in the midst of 12% interest rates, that we would be where we are today. I never envisioned that my young kids who moved into our home in Kingston in 1988 would be working with me in the same business, respected in the industry, not for being my kids, but for what they worked hard to become as professionals. It is not easy working with your Dad or for your Dad and not being looked upon as the owners children when they first start out. They did it themselves with their own personalities and work ethic. Those same children are putting their mark on their future and the companys future and I am proud to work alongside them.
It is very nice to be recognized by your peers and industry with awards and accolades and I am thankful and proud but that is not what I am most proud of. I am blessed with a patient wife and two great children, who are great parents and who are doing a great job raising their children, my grandchildren. I am proud of watching my children take their place in this industry and for the job they have done to get where theyare today. I am proud that they still call me Dad.
I am really happy that they havent asked for my office yet so Ithink Ican stay around for a few years still!
Similar Housing Demand Conditions in Canada and US
Housing markets in Canada and the US are sizzling. Recent headlines have used superlatives to describe housing market conditions in both countries and the data do back this up. Still, a closer look reveals some interesting distinctions as well. Home price and sales metrics show that while the US market is hot, Canadas is hotter. For example, existing home sales, which make up the majority of overall sales in both countries, is well above historical averages, but Canadian home sales have outperformed. As of March 2021, home sales in Canada were 75% higher than the average over 2018 and 2019, while it was 13% above in the US. Likewise, home prices also spiked. In Canada, the average home sold was 32% more expensive than what it was a year ago, and it was 17% higher stateside.
From a high level, the list of commonalties across markets during the pandemic is longer than the areas of difference, particularly on the demand side. Perhaps the most influential demand-side driver has been historically low mortgage rates. Responding to the impacts of the pandemic, the Bank of Canada and the Federal Reserve slashed rates and enacted large quantitative easing programs early last year, resulting in a sharp drop in borrowing costs. Given that the US conventional mortgage rate is a 30-year rate compared to Canadas 5-year benchmark, borrowing costs fell faster in America as flight to safety flows lowered longer term yields at the onset of the pandemic.
Source:https://economics.td.com/housing-heat-check
CANADA HOUSING MARKET and new stress test
Canadian home sales took a turn in April 2021, declining by 12.5% (sa m/m) from the highest level on record in March 2021. Listings followed suit, falling by 5.4% (sa m/m). While both sales and listings decreased in April, the smaller decline in listings further eased the national-level sales-to-new listings to 75.2% from record high readings earlier this year (the highest being 91% in January). While this is a move in the right direction towards a better supply-demand balance, the ratio is still significantly higher than its long-term average of 54.5%. As a result of this persistent tightness in the housing market, the composite MLS Home Price Index (HPI) rose by 2.4% (sa m/m). This is a deceleration in price gains from paces observed over the last two months, owing in the most part to a slowing in prices for single-family homes and townhouses. Apartments, which had remained relatively close to pre-pandemic levels before accelerating earlier this year have maintained momentum in April.
Movements in the housing market this month continued to be broad-based rather than market-specific, as declines in sales were spread out across much of the country.
The Office of the Superintendent of Financial Institutions (OSFI) also announced that, effective June 1, the minimum qualifying rate for uninsured mortgages (i.e., residential mortgages with a down payment of 20 percent or more) will be the greater of the mortgage contract rate plus 2 percent or 5.25 percent.
