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My Rates

1 Year 1.64%
2 Years 1.54%
3 Years 1.54%
4 Years 1.84%
5 Years 1.99%
7 Years 2.84%
10 Years 2.79%
*Rates subject to change and OAC
BROKERAGE LICENSE ID
x026191
Anokh Lally Mortgage Broker

Anokh Lally

Mortgage Broker


Phone:
Address:
2183 240 Street , Langley, British Columbia

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Complete Mortgage Services is one of Canada’s premier mortgage companies. Our mortgage professionals and management team through knowledge & experience have extensive backgrounds in all types of financing and pride themselves on delivering exceptional financial service.

With over 30 years experience, our primary mandate is to obtain the Complete mortgage solution for each one of our clients. We treat every mortgage solution as if we were building a foundation for you – the solution we recommend will be designed for you specifically; carefully selected to meet your needs.

Last year alone our consultants helped thousands of people obtain, renew or refinance a mortgage. We are experienced, trained licensed mortgage consultants and active members in our local communities and industry associations.

After all, mortgage financing is one of the biggest financial decisions you may ever make. And with so many choices available in today’s marketplace, a Complete mortgage plan can assist you in reaching your financial goals and becoming mortgage free with ease!


BLOG / NEWS Updates

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.

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