HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM

My Rates

3 Years 4.49%
5 Years 5.04%
*Rates subject to change and OAC
AGENT LICENSE ID
M16002087
BROKERAGE LICENSE ID
12257

Rusty Topan

Mortgage Agent


Phone:
Address:
Elmvale Acres, Ottawa, Ontario

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Hi there, welcome, and thank you for visiting this page.

A lot of people think of a mortgage as a tool for buying a home - but mortgages have come a long way.  You can use them for many, many purposes.  Equity to lend to your kids, add to your retirement funds, purchase a vacation or investment property, travel....

It is very important that you get the right mortgage for YOUR needs.  Your mortgage choices can affect your future.

Mortgage lenders charge a penalty fee when you break your contract. This means, if you sell your home, you could owe the lender thousands of dollars in penalty fees.

You could also pay penalty fees if you pay off your mortgage early. Unless you plan on owning your home until you pay it in full, you may need flexibility on your mortgage.

Options related to mortgage flexibility include if your mortgage:

  • is open or closed
  • is portable
  • is assumable
  • has a standard or collateral security registration

Please give me a call or send me an e-mail to discuss your needs, review your options, and answer any of your questions.

 


BLOG / NEWS Updates

The housing market has stabilized in October

Summary On a seasonally adjusted basis, home sales increased 1.3% from September to October, the first monthly gains in eight months. Despite this growth in sales, this should not be seen as the beginning of an upward trend, but more like a stabilization of the market, with sales now 35.6% below their February level. This is the first time in four months that new listings are up with an increase of 2.2% from September to October. Despite the increase in soles, the increase in new listings allowed supply to accumulate, resulting in the number of months of inventory increasing from 3.7 to 3.8 in October. We are not yet seeing a large influx of sellers at this time, so supply is still very low on a historical basis and market conditions are still pointing in the direction of a favourable to sellers market. This situation is also present in the majority of Canadian provinces, while only B.C. and Manitoba close to indicating a favourable to buyers market. Housing starts declined by 31.8K in October to 267.1K (seasonally adjusted and annualized) after having reached their highest level for 2022 in the prior month while the consensus was calling for a decline to 275K. Storts continued to be well above their long-term average, despite still increasing interest rates. The Teranet-National Bank Composite National House Price Index decreased by 0.8% in October compared to the previous month and after seasonal adjustments. Nine of the 11 markets in the composite index were down during the month: Halifax (-4.7%), Hamilton (-2.8%), Winnipeg (-2.4%), Victoria (-2.0%), Quebec City (-1.7%), Toronto (-1.1%), Ottawo-Gotineau (-1.1%), Montreal (-1.0%) and Vancouver (-0.3%). Conversely, the Calgary (+1.8%) and Edmonton (+2.0%) markets were still up. https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/economic-news-resale-market.pdf

Canadian home sales edge up from September to October

Statistics released by the Canadian Real Estate Association (CREA) show national home sales edged a little higher in October 2022. HIGHLIGHTS National home sales were up 1.3% on a month-over-month basis in October. Actual (not seasonally adjusted) monthly activity came in 36% below October 2021. The number of newly listed properties edged up 2.2% month-over-month. The MLS Home Price Index (HPI) declined by 1.2% month-over-month and was down 0.8% year-over-year. The actual (not seasonally adjusted) national average sale price posted a 9.9% year-over-year decline in October. https://stats.crea.ca/en-CA/

MY LENDERS

TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
Merix Equitable Bank RFA CMLS ICICI Bank Manulife
Haventree Bank HomeEquity Bank Lifecycle Mortgage Sequence Wealth One Fisgard Capital
Optimum Bridgewater Marathon Mortgages Vault