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My Rates

3 Years 1.56%
5 Years 1.60%
*Rates subject to change and OAC
AGENT LICENSE ID
M10001481
BROKERAGE LICENSE ID
12060
Richard Hasfal Mortgage Agent

Richard Hasfal

Mortgage Agent


Phone:
Address:
95 Queen St. S. Unit B, Mississauga, Ontario

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Welcome and thank you for visiting my site!  For most people, your home is your biggest financial investment. And most people don't realize you have options on how you can finance your investment.  Your ideal mortgage is out there, whether you are:

 - buying a home, vacation home or investment property;

 - refinancing your current home to pay down debt or increase cash flow; or

 - renewing your current mortgage.

 

With access to over 59 lenders, including the major banks, credit unions, trusts and private lenders, I can  show you ALL your options and find you the best rates and terms that suit your financial profile and needs.

 

If you're ready to get started, please fill out the online application.  If you have any questions, please contact me.

 

I look forward to helping you manage your greatest investment and achieve your financial goals.

 

Best regards,

Richard


BLOG / NEWS Updates

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

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of percent, with the Bank Rate at percent and the deposit rate at percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. The rebound in the global and Canadian economies has unfolded largely as the Bank had anticipated in its October Monetary Policy Report (MPR). More recently, news on the development of effective vaccines is providing reassurance that the pandemic will end and more normal activities will resume, although the pace and breadth of the global rollout of vaccinations remain uncertain. Near term, new waves of infections are expected to set back recoveries in many parts of the world. Accommodative policy and financial conditions are continuing to provide support across most regions. Stronger demand is pushing up prices for most commodities, including oil. A broad-based decline in the US exchange rate has contributed to a further appreciation of the Canadian dollar.

MY LENDERS

TD Bank Scotia Bank Attain Mortgage First National MCAP B2B Bank
Home Trust Merix Equitable Bank Street Capital CMLS Fisgard Capital
ICICI Bank Optimum  RMG Mortgages Bridgewater Marathon Mortgages