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My Rates

5 Years 1.59%
*Rates subject to change and OAC
AGENT LICENSE ID
M19001031
BROKERAGE LICENSE ID
10252
MUKESH CHOUHAN Mortgage Agent

MUKESH CHOUHAN

Mortgage Agent


Address:
1305 Matheson Boulevard, Mississauga, Ontario

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Mukesh’s mantra is “helping home buyers and homeowners get the best mortgage for their needs”.

 

With a smart mind and a warm heart, Mukesh Chouhan always puts the needs of his customers before all else. With 16 years of experience in the mortgage and finance industry, he is determined to use his immense expertise and strong interpersonal skills to help every client find the best solutions for their mortgage needs. 

 

Mukesh will work tirelessly to help you find the right mortgage that suits your needs and aligns with your financial goals. His wide scope of financial experience allows him to uncover the varying needs of each client, working together to tailor a mortgage solution that'll pave the best path forward. Mukesh will fight to get you the lowest mortgage rates available to you and will not stop until he turns one lender's NO into another one’s YES! 


Call Mukesh at 647-894-3189 or email him at mukesh@mortgagediligent.com  to get started on your residential mortgage journey. "

attain Mortgage

More than just Mortgages. We can help you build your future.

attain Mortgage

More than just Mortgages. We can help you build your future.

BLOG / NEWS Updates

Record December caps record year for Canadian home sales

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in December 2020. Home sales recorded over Canadian MLS Systems jumped by 7.2% between November and December to set another new all-time record. Seasonally adjusted activity was running at an annualized pace of 714,516 units in December 2020 the first time on record that monthly sales at seasonally adjusted annual rates have ever topped the 700,000 mark. The month-over-month increase in national sales activity from November to December was driven by gains of more than 20% in the Greater Toronto Area (GTA) and Greater Vancouver. Actual (not seasonally adjusted) sales activity posted a 47.2% y-o-y gain in December the largest year-over-year increase in monthly sales in 11 years. It was a new record for the month of December by a margin of more than 12,000 transactions. For the sixth straight month, sales activity was up in almost all Canadian housing markets compared to the same month in 2019. For 2020 as a whole, some 551,392 homes traded hands over Canadian MLS Systems a new annual record. This is an increase of 12.6% from 2019 and stood 2.3% above the previous record set back in 2016.

Mortgage Deferral Agreements and Their Impact

CMHCs Fall 2020 Residential Mortgage Industry Dashboard discusses mortgage deferral agreements and their impact. At the end of the second quarter, credit unions, mortgage finance companies (MFCs) and mortgage investment entities (MIEs) have allowed mortgage deferral agreements for about 6%, 7% and 7% of their respective residential mortgage portfolios. Chartered banks have allowed 16% of mortgages to go into deferral since the beginning of the pandemic. Of these, close to 2 out of 3 borrowers had resumed payments on their mortgages at the end of the third quarter of 2020. In the coming months, we could see higher delinquency rates if some borrowers are unable to resume their payments; these mortgages will have to be booked as arrears. These deferral agreements have affected financial institutions cash flows, with reductions of: 4% in scheduled mortgage payments 3% in non-scheduled payments (accelerated monthly payments and lump-sum payments) While remaining at low levels, mortgages in arrears (90 or more days delinquent) have increased slightly between the first and second quarters of 2020 from: 0.24% to 0.26%, on average, for chartered banks 0.23% to 0.25%, on average, for non-bank mortgage lenders We also observe an increase in early-stage delinquencies (31 to 59 days and 60 to 89 days), which suggests that arrears could continue on an upward trend. Source: CMHC

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