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Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.
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I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.
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I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Broker Advisor who can help you get the right financing, from the right lender, at the right rate.
Give Comfort Food a Makeover
(NC) As temperatures drop, the urge to indulge in hearty classics takes over. Whether its soup, stew, or mac n cheese, you can satisfy your familys comfort cravings with delicious alternatives to old school favourites.
Swap ingredients and add seasonal vegetables to give classic dishes a makeover. Simple changes such as using sweet potatoes instead of regular spuds add more nutrients to your meals. Pastas like Barilla Protein PLUS add an array of benefits including 14 grams of high quality protein from chickpeas, lentils and egg whites.
Give this Barilla Bacon and Brussels Sprouts Penne recipe a try and share your favourite comfort food makeovers with us!
Barilla Bacon and Brussels Sprouts Penne
1 box Barilla Protein PLUS Penne
2 pounds Brussels sprouts
8 slices raw bacon
4 cloves garlic, minced
1/4 cup shallots, thinly sliced
1 tablespoon olive oil
1 cup chicken broth, low-sodium preferred
1/4 cup pecans, roasted and chopped
1/4 cup Parmesan cheese, grated
Cook pasta according to the package instructions. Preheat oven to 350F. In a pot of boiling water, blanch Brussels sprouts for 5 minutes; place drained Brussels sprouts on baking pan in fridge to cool. Once cooled, cut sprouts in half. In an oven-safe skillet, cook bacon until crisp, remove and crumble; pour off all but 1 tablespoon of bacon fat. Add garlic and shallots to skillet and saut until soft. To same skillet add olive oil and Brussels sprouts; bake in a 350F oven for 10 minutes until caramelized. Remove from oven and add chicken stock; over medium heat, stir well and heat through. Add pasta, bacon and pecans, mixing well. Sprinkle with Parmesan cheese before serving.
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Home sales drop in April as mortgage rates shoot higher
Home sales recorded over Canadian MLS Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020.
While the national decline was led by the Greater Toronto Area (GTA) simply because of its size, sales were down in 80% of local markets, with most other large markets posting double-digit month-over-month declines in April. The exceptions were Victoria, Montreal and Halifax-Dartmouth where sales edged up slightly.
The actual (not seasonally adjusted) number of transactions in April 2022 came in 25.7% below the record for that month set last year. That said, as has been the case since last summer, it was still the third-highest April sales figure ever behind 2021 and 2016.
Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue, said Jill Oudil, Chair of CREA. For buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies. Of course, there are significant regional differences, so your best bet is to contact your local REALTOR. They have the information, guidance negotiation skills to help you navigate this rapidly-changing market as it evolves, continued Oudil.
CANADA: Home sales declined in March. Beginning of a downward slide?
By Daren King
On a seasonally adjusted basis, home sales decreased 5.4% from February to March, a first monthly decline in three months. Despite this decline, the resale market remained very active on a historical basis, standing above the historically high level of 45K now for 21 consecutive months. Is this the beginning of a downward trend in the Canadian real estate market? In our opinion, the housing market should remain active during the spring due to many people who have secured advantageous interest rates and will want to act before the end of their interest rate guarantee. However, with the recent increase in mortgage interest rates and the worst affordability conditions on record, we expect the residential market to slow down in the second half of the year.
According to CREA, new listings decreased by 5.5% during the month. However, the reduction in sales compensated for the decrease in new properties for sale, so that the number of months of inventory rose from its historical low of 1.6 to 1.8 months in March. Based on the active-listings-to-sales ratio, the housing market continued to be tight in 9 of the 10 provinces, with only Saskatchewan indicating a balanced market. These market conditions should continue to support prices in the coming months.
On a year-over-year basis, home sales fell 16.3% compared to the most active month ever recorded for any period of the year that was March 2021. Nevertheless, it remains the second most active month of March on record.
Housing starts decreased by 4.0K in March to 246.2K, a slide of 1.6% m/m from 250.2K in February and below consensus expectations calling for a 250K print. Although housing starts in March were slightly below consensus expectations, they remained high on a historical basis. The trend in housing permits continues to suggest a higher level of starts at this time. Moreover, with the tight conditions in the resale market, the willingness of various levels of government to build more and the resumption of immigration, housing starts should remain high for some time. That being said, we are entering the building season in Canada with elevated commodity prices and renewed supply chain challenges. Combined with more restrictive monetary policy by the Bank of Canada, we expect housing starts to taper in 2023.
The Teranet-National Bank Composite Notional House Price Index increased 1.7% in February compared to January after seasonal adjustment. On a year-over-year basis, home price increased by 17.7% in February. All 11 markets of the composite index were up in the month. The March Teranet-National Bank HPI will be published on April 20.
Source: National Bank of Canada https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/economic-news-resale-market.pdf