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My Rates

1 Year 6.79%
2 Years 6.14%
3 Years 5.34%
4 Years 5.24%
5 Years 5.09%
7 Years 5.80%
10 Years 6.20%
*Rates subject to change and OAC
AGENT LICENSE ID
M14001544
BROKERAGE LICENSE ID
11931
Alexandru Cristian Matei Mortgage Broker

Alexandru Cristian Matei

Mortgage Broker


Office:
Phone:
Address:
300 - 1100 Burloak Dr, Burlington, Ontario, L7L 6B2

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Thank You Message-Manage marketing section

I would like to take this opportunity to thank you for selecting me as your mortgage advisor. It has truly been a pleasure working with you.

The following mortgage plan is a document and service that I provide to all of my clients to help them become more familiar with me, their lender, and their mortgage financing options. While the mortgage transaction has now been successfully completed, our relationship is just beginning. As your mortgage advisor my ongoing role is to help you successfully manage your mortgage debt, as well as your personal finances, in order to minimize your interest costs and fees - and enjoy mortgage freedom as soon as possible.

I would also like to take this opportunity to encourage you to contact me if you have any questions regarding your mortgage, or the mortgage needs of a friend or family members. Thank you again and I look forward to continuing to assist you with your mortgage needs.

Final Words Message-Manage marketing section

This mortgage plan is a summary of your mortgage. 

I encourage you to keep this document in a safe place and review it once a year.  If there are changes in your financial situation at anytime, or if you find that you have new financial goals, contact me anytime.  I would be happy to review your mortgage with you to find new ways of reaching your financial goals!

Again, thank you for selecting me as your mortgage advisor and I look forward to continuing to work with you.

Welcome Message-Agent Mobile & Website

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!

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BLOG / NEWS Updates

No respite for Canadian housing affordability in Q4 2023

From National Bank of Canada The fourth quarter of 2023 witnessed a second consecutive deterioration for housing affordability in Canada. The degradation was widespread with every single market experiencing an increase in their mortgage payment as a percentage of income (MPPI) due to both higher interest rates and rising home prices. This worsening has practically eliminated recent improvements in affordability and our index at the national level is almost back to its worst affordability since the 1980s. That said, the headline index dissimulates a more worrisome picture. Indeed, the condo sub-index has reached its highest level of unaffordability in at least two decades. In other words, it would take nearly half of pre-tax median household income to service the median condo mortgage. With the condo market typically being the entry point for first-time homebuyers it leaves the latter with few options. While homeownership is becoming untenable, the rental market offers little respite. Our rental affordability index has never been worse. It would take nearly one third of pre-tax household income to pay for the average rent of a two-bedroom condo. The outlook for the coming year is fraught with challenges. While mortgage interest rates are showing signs of waning in the face of expected rate cuts by the central bank, housing demand remains supported by unprecedented population growth. As a result, we expect some upside to prices in 2024. On the rental side, in a recently released report by the CMHC, Canada`s rental market vacancy stumbled to a record low of 1.5% which leaves little room for an improvement in rents. Supply for any segment of the market isn`t expected to pick up anytime soon as building permits in many Canadian cities has plummeted at the end of 2023. https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/housing-affordability.pdf

Canadian Home Sales Showing Signs of Recovery

Following a weak second half of 2023, home sales over the last two months are showing signs of recovery, according to the latest data from the Canadian Real Estate Association (CREA). Home sales activity recorded over Canadian MLS Systems rose 3.7% between December 2023 and January 2024, building on the 7.9% month-over-month increase recorded the month prior. While activity is now back on par with 2023s relatively stronger months recorded over the spring and summer, it begins 2024 about 9% below the 10-year average. Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers; however, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together, these trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two years, said Shaun Cathcart, CREAs Senior Economist. https://stats.crea.ca/en-CA/

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