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My Rates

6 Months 3.09%
1 Year 1.84%
2 Years 1.84%
3 Years 1.84%
4 Years 1.84%
5 Years 2.09%
7 Years 2.94%
10 Years 3.30%
6 Months Open 5.75%
1 Year Open 3.45%
*Rates subject to change and OAC
AGENT LICENSE ID
13304
BROKERAGE LICENSE ID
13304

Joe Melo

Mortgage Agent


Phone:
Address:
1 Concorde Gate, North York, Ontario

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The process of buying a home, or arranging financing can be intimidating or overwhelming. 

 

My goal is to make the financing process as seamless and stress free as possible. Whether you need a new mortgage, refinancing an existing mortgage, obtaining a loan or line of credit, I will be there with you every step of the way. Always making sure that you get the absolute best rates possible.

 

My commitment to you is to fully analyze and understand your needs, and make sure that we find the best solutions that are a perfect fit for YOU. By doing that, we can work together to ensure that your money stays yours, and you can put it towards the more important things in life.

 

If you have any questions, or would like to explore different Lender options or products, feel free to reach out and I would be happy to help.


BLOG / NEWS Updates

Housing market continues to moderate in June

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down between May and June 2021. Home sales recorded over Canadian MLS Systems fell by 8.4% month-over month in June 2021, marking the third straight monthly slowdown since activity hit an all-time record back in March. While sales are now down a cumulative 25% from their peak, and below every other month in the last year, June transactions still managed to set a record for that month. Month-over-month declines in sales activity were once again quite broad-based, with sales moderating in around 80% of all local markets, including almost all large markets across Canada. The actual (not seasonally adjusted) number of transactions in June 2021 was up 13.6% on a year-over-year basis and marked a new record for that month. While there is still a lot of activity in many housing markets across Canada, things have noticeably calmed down in the last few months, said Cliff Stevenson, Chair of CREA. There remains a shortage of supply in many parts of the country, but at least there isnt the same level of competition among buyers we were seeing a few months ago. As these conditions continue to evolve over the summer and fall, your best bet is to consult with your local REALTOR for information and guidance about buying or selling a home at this stage in the cycle, continued Stevenson.

Record rise of home prices in May

In May the TeranetNational Bank National Composite House Price IndexTM was up 2.8% from the previous month, the largest monthly rise since the index series began in 1999. It was led by four of the 11 constituent markets: Ottawa-Gatineau (4.9%), Halifax (4.3%), Hamilton (3.7%) and Toronto (3.4%). Rises were more moderate for Vancouver (2.3%), Winnipeg (2.2%), Montreal (2.2%), Victoria (2.1%), Calgary (1.4%), Quebec City (1.2%) and Edmonton (1.2%). It was a third consecutive month in which all 11 markets of the composite index were up from the month before. The May rise was consistent with the increase in number of home sales over the last several months as reported by the Canadian Real Estate Association. For a ninth straight month, the number of sale pairs entering into the 11 metropolitan indexes was higher than a year earlier. The unsmoothed composite index, seasonally adjusted, was up 2.1% in May, suggesting that the uptrend of the published (smoothed) index could continue. The May composite index was up 13.7% from a year earlier, for a 10th consecutive acceleration and the strongest 12-month gain since July 2017. The 12-month rise was led by five markets Halifax (29.9%), Hamilton (25.5%), Ottawa-Gatineau (22.8%), Montreal (17.6%) and Victoria (15.3%). Toronto matched the countrywide average at 13.7%. Lagging that average were Vancouver (11.9%), Winnipeg (10.4%), Quebec City (9.8%), Calgary (4.5%) and Edmonton (3.6%). Besides the Toronto and Hamilton indexes included in the countrywide composite, indexes exist for seven smaller urban areas of the Golden Horseshoe Barrie, Guelph, Brantford, Kitchener, St. Catharines, Oshawa and Peterborough. In May all seven were up from the previous month and from a year earlier. The 12-month gains ranged from 27.6% for Brantford to 31.4% for Barrie. Source: https://housepriceindex.ca/2021/06/may2021/

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