AGENT LICENSE ID
11931
BROKERAGE LICENSE ID
11931
Mortgage Broker
Office:
Phone:
Email:
Address:
1100 Burloak Dr., Suite 300, Burlington, Ontario
BROWSE
PARTNERSZoom-Zoom the Process with Zoom Mortgage
Arrange your next mortgage from the comfort of your home. Using modern technology we can come to you with a Zoom Video call to understand your needs and tailor the mortgage solution that works best for you. With electronic signatures, video calls and secure uploads we've made the process convenient. Reach out today to schedule your introductory meeting!
If You Need a Mortgage, We Have the Solution
We know that different people need different things in a mortgage. That’s why we have solutions for all kinds of homeowners. Whether you are buying your first home, an investment or cottage property, or looking at home renovations or renewing your mortgage, we have a mortgage solution for you.
Your First Home
Renewing Your Mortgage
Refinance & Home Equity
Your Next Home
Investment Properties
Insurance Solutions
Recreation or Second Properties
Commercial & Business Financing
Welcome to ZoomMortgage.ca
The mortgage rate is a very important factor when selecting your mortgage. At Zoom Mortgage we work with Canada’s best mortgage lenders.
Zoom Mortgage is able to secure exceptionally low mortgage rates with Canada’s top lenders. After carefully reviewing your goals, needs and personal situation we will recommend the best mortgage.
Book an appointment for a personal mortgage consultation.
Office:
1100 Burloak Drive, Suite 300
Burlington, Ontario
L7L 6B2
Why Choose a Mortgage Broker Professional?
It’s time you started PAYING LESS!
Free service to you
Low interest rates
Refinance & Home Equity
Hassle free process
Experienced Professionals
We deal with the banks!
Interest saving strategies
BLOG / NEWS Updates
Bank of Canada reduces policy rate by 50 basis points to 3¾%
The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 4% and the deposit rate at 3%. The Bank is continuing its policy of balance sheet normalization.
The Bank continues to expect the global economy to expand at a rate of about 3% over the next two years. Growth in the United States is now expected to be stronger than previously forecast while the outlook for China remains subdued. Growth in the euro area has been soft but should recover modestly next year. Inflation in advanced economies has declined in recent months, and is now around central bank targets. Global financial conditions have eased since July, in part because of market expectations of lower policy interest rates. Global oil prices are about $10 lower than assumed in the July Monetary Policy Report (MPR).
In Canada, the economy grew at around 2% in the first half of the year and we expect growth of 1% in the second half. Consumption has continued to grow but is declining on a per person basis. Exports have been boosted by the opening of the Trans Mountain Expansion pipeline. The labour market remains softthe unemployment rate was at 6.5% in September. Population growth has continued to expand the labour force while hiring has been modest. This has particularly affected young people and newcomers to Canada. Wage growth remains elevated relative to productivity growth. Overall, the economy continues to be in excess supply.
GDP growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates. This forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth. Residential investment growth is also projected to rise as strong demand for housing lifts sales and spending on renovations. Business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the United States.
Overall, the Bank forecasts GDP growth of 1.2% in 2024, 2.1% in 2025, and 2.3% in 2026. As the economy strengthens, excess supply is gradually absorbed.
https://www.bankofcanada.ca/2024/10/fad-press-release-2024-10-23/
NBC Housing Market Monitor: Housing market remained sluggish in September
Home sales edged up 1.9% between August and September, a third increase in four months.
On the supply side, new listings jumped 4.9% from August to September, the eighth advance in nine months and the largest increase since July 2023. As a result, they are now at their highest level since February 2022.
Active listings edged down 0.5% in September from their highest level since March 2020, the second decrease in three months. Meanwhile, the number of months of inventory (active listings-to-sales) decreased from 4.2 to 4.1 during the month, a level roughly back in line with its pre-pandemic level.
Market conditions tightened marginally in September and remained tighter than their historical average in most provinces. They were roughly balanced in B.C. and softer than average in Ontario.
Housing starts increased 10.8K in September to 223.8K (seasonally adjusted and annualized), a result below the median economist forecast calling for a 235.0K print. The monthly increase was solely driven by a rise in urban starts (+11K to 210.0K), which were mainly supported by the multi-family segment (+8.6K to 163.4K) while the single-family segment was up marginally (+2.4K to 46.6K). Starts were up in Calgary (+4.4K to 24.3K) and Vancouver (+3.0K to 23.4K) but declined in Toronto (-4.2K to 20.5K) and Montral (-2.1K to 13.0K). At the provincial level, the increases in total starts were registered in British Columbia (+9.3K to 44.0K), Ontario (+4.1K to 64.6K) and Saskatchewan (+2.6K to 6.1K), while the most notable declines were seen in Alberta (-1.5K to 46.8K), and Qubec (-1.1K to 40.3K).
The TeranetNational Bank Composite National House Price Index rose by 0.5% from August to September after adjustment for seasonal effects. Eight of the 11 markets in the composite index were up during the month: Montreal (+2.4%), Winnipeg (+1.8%), Victoria (+1.2%), Edmonton (+1.1%), Ottawa-Gatineau (+0.9%), Halifax (+0.8%), Calgary (+0.5%) and Toronto (+0.3%). Conversely, declines occurred in Quebec City (-0.9%), Hamilton (-0.6%) and Vancouver (-0.2%).
https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/economic-news-resale-market.pdf
CREA National Statistics: Canadian Home Sales Edge Up Again Following Third Interest Rate Cut
Following the Bank of Canadas third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts.
Home sales recorded over Canadian MLS Systems climbed 1.9% on a month-over-month basis in September 2024, reaching their highest level since July 2023. The national increase was led by the Greater Toronto Area and Hamilton-Burlington, Montreal and Quebec City, as well as Greater Vancouver and Victoria.
Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases werent headline-grabbing, said Shaun Cathcart, CREAs Senior Economist. That said, with the pace of rate cuts now expected to be much faster than previously thought, its possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year.
Highlights:
National home sales rose 1.9% month-over-month in September.
Actual (not seasonally adjusted) monthly activity came in 6.9% above September 2023.
The number of newly listed properties jumped 4.9% month-over-month.
The MLS Home Price Index (HPI) inched up 0.1 % month-over-month but was still down 3.3% on a year-over-year basis.
The actual (not seasonally adjusted) national average sale price was up 2.1% on a year-over-year basis in September.
https://stats.crea.ca/en-CA/
