AGENT LICENSE ID
M16002742
BROKERAGE LICENSE ID
13034
Narinder Lobana
Mortgage Agent
Office:
Phone:
Email:
Address:
2 Brookwater Cres, Caledon, Ontario
BROWSE
PARTNERSAbout Our Company
J&G Mortgages is mortgage Brokerage specialized in Residential, Commercial and Private mortgages.
We are working with number of different lenders to obtain the best mortgage rate under the best loan conditions.. Our experienced mortgage agents can give you professional advice to help you decide which mortgage products suit your needs and financial goals
We are a people company. Home to a diverse range of talented people, each bringing their own knowledge and experience to our business. It’s this rich mix of people, personalities and expertise that build the strong client relationships that drive our business forward and set us apart from the competition.
BLOG / NEWS Updates
BMO: Consumers plan to spend less this holiday season
The BMO Real Financial Progress Index reveals that amid growing concerns about the cost of living (54%) and their overall financial situation (36%) 79% of Canadians are planning to cut back on spending this holiday season. The surveys insights provide an outlook on Canadians holiday spending plans, including:
The holiday price tag:
On average, Canadians plan on spending more than $1,991 this holiday season, including travel ($1,802), holiday gifts ($519), entertaining ($295), decorations ($141) and other holiday expenses ($275).
Nearly a quarter (23%) plan on spending more than $2,000 during the holidays.
Making a list and checking it twice:
79% plan on buying fewer gifts this year, and over a quarter (27%) will cut down the number of people on their gift list.
More than a third (36%) plan on buying less expensive gifts.
Sleighing spending:
41% are spending less on fewer gifts, and 44% had cut back on spending on other occasions, including birthdays and anniversaries, throughout the year in order to spend more on holiday gifts.
Nearly half (49%) admit to spending more than they know they should.
https://about.bmo.com/consumers-plan-to-spend-less-this-holiday-season-heres-how-bmo-can-help-make-holiday-budgeting-easier/
TD: Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery
Report by TD Economics
Highlights
On December 15th, the federal government will roll out mortgage rule changes that make it easier to purchase a home for those taking out insured mortgages.
These measures should offer a lift to Canadian home sales and prices next year. However, their impact will be blunted by an array of factors, including the affordability erosion induced by their implementation.
Mitigating the impacts of these policies may be positive from a financial stability perspective, as the measures will likely encourage households to take on more debt at a longer term, and insured borrowers have typically been more prone to bouts of financial stress.
The federal government has recently announced two changes to Canadian mortgage rules (effective December 15th, 2024) that will make it easier to qualify for purchasing a home. As the surge in home sales early in 2024 (amid a steep drop in bond yields at the end of last year) and in the spring of 2023 (after the Bank of Canada paused its rate hiking campaign) taught us, Canadian housing market activity can be highly reactive. Yet, we dont think that these measures alone will unleash a housing boom. Instead, theyll likely offer a secondary tailwind to a market thats already gaining decent traction in 2025 on the back of lower borrowing costs and a gradually improving economy (see here). Whats more, the affordability boost offered by these measures will likely also erode as home prices are raised by their implementation, thereby limiting their effectiveness.
https://economics.td.com/ca-mortgage-rule-changes
NBC BoC Policy Monitor: No more quarter pounders… Super-size me!
Rate Statement
The rate cutting cycle was turned up a notch as the Bank of Canada lowered its target for the overnight rate by 50 basis points to 3.75%, a decision in line with consensus and market expectations. This fourth cut in as many meetings marks a cumulative rate reduction of 125 basis points and brings the policy rate to its lowest point since December 2022. The move also pushes the BoCs policy rate 125 basis points below the Federal Reserves, though an expected November Fed cut would narrow that gap. Meanwhile, balance sheet normalization will continue as expected. Here are some additional highlights from the communique and the opening statement to the press conference:
Driving the decision to cut 50 bps was a desire to support economic growth and to keep inflation close to the middle of the 1% to 3% range.
As for forward rate guidance, the Bank says, we expect to reduce the policy rate further if the economy evolves broadly in line with our latest forecast. As always, the timing and pace of further cuts, will be guided by incoming information.
Despite recent soft data, the Bank still expects relatively solid GDP growth ahead: GDP growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates.
The Bank appears to be looking the strength of the September jobs report, as the statement simply says the labour market remains soft. Still, they note that wage growth remains elevated relative to productivity growth.
The Bank highlights that inflation has declined significantly thanks to excess supply in the economy. The breadth of price increases have normalized, as have inflation expectations. Policymakers now expect inflation to remain close to target over the projection horizon, with the upward and downward pressures roughly balancing out.
https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/boc-policy-monitor.pdf