HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
12051
BROKERAGE LICENSE ID
12051
Pro Funds Mortgages Mortgage Brokerage

Pro Funds Mortgages

Mortgage Brokerage


Phone:
Address:
3410 South Service Road Suite G5, Burlington, Ontario, L7N 3T2

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

BLOG / NEWS Updates

Provincial Housing Outlook: Firmer Back Half of 2025 in the Cards for Canadian Housing

By TD Economics Highlights Weve modestly upgraded our home sales growth forecasts for the second half of the year across Canada. This represents the assumption that pent-up demand that was sidelined in a weaker-than-expected first half returns to the market. The data is cooperating with this narrative, with Canadian home sales up 4% m/m in May after inching higher in April. However, uncertainty remains elevated, and job markets are deteriorating. As such, even if sales levels improve, they are likely to remain subdued, particularly in B.C. and Ontario. Weve nudged up our average home price growth forecasts in markets outside of B.C. and Ontario for the back half of the year, as sales gains interact with supply/demand balances that favour sellers in these regions. Were retaining our view that quarterly price growth will be the firmest in the Prairies in the second half of 2025. In contrast, 2025H2 home price growth is seen as declining, on average, in B.C. and Ontario. Supply/demand balance indicators suggest that there is too little demand chasing too much supply in these markets, leaving buyers with some power in negotiations. We could see a compositional boost to prices (i.e. sturdier sales gains for more expensive properties that upwardly pressure average prices), particularly in Ontario, however. This reflects the assumption of some underperformance in the less-expensive GTA condo market due to weak investor demand. Were expecting stronger growth in Canadian home sales and average home prices in 2026, backed by an improving economy, reduced uncertainty, and a modest downdraft in yields from their current levels. However, the scale of bounce-back in Canadian average home prices will likely be restrained by poor affordability in key markets like B.C. and Ontario. Whats more, population growth should remain weak next year, restraining rent gains and preventing any notable recovery in investor demand. We expect the federal governments housing plan to boost supply. However, given that the federal budget will only land this fall, along with lags inherent in the homebuilding process, we wouldnt expect a material boost to housing completions until perhaps late next year (at the earliest). Absent a steep recession, any significant improvement in housing affordability would take time and require a sustained ramp up housing construction. https://economics.td.com/ca-provincial-housing-outlook

Residential Mortgage Industry Report Spring 2025 Edition

Highlights Mortgage lenders entered 2025 in a healthy position, but economic uncertainty is increasing risk to the residential mortgage market. At the household level, unemployment is the most common cause of late mortgage payments. Variable rate mortgages became the most popular mortgage type in early 2025, reaching 42% of new mortgages in February, as the premium for variable-rate mortgages largely disappeared. Terms between 3 and less than 5 years were also still popular with new borrowers (32%). This speeds up the impact of future interest rate changes on borrower payments. New borrowers have taken advantage of lower interest rates to reduce their monthly payments. They havent shortened their amortization periods to the levels prior to the increase in interest rates. Mortgage lending by the largest alternative lenders outpaced the growth of national mortgage credit in 2024. These lenders risk profile has increased moderately due to higher delinquency rates, leading them to increase their loan loss allowance. https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/housing-research/research-reports/housing-finance/residential-mortgage-industry-report

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank