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Canadian 5-year Yield Fell To Lowest Level Since October

Global investors are selling stocks and piling into the safety of bonds in response to fears that the Wuhan coronavirus could disrupt global economic activity. Gold prices, another haven, have also risen. The Government of Canada 5-year bond yield traded this morning at roughly 1.35%, well below its nearly 1.70% level one month ago. The 5-year yield leads fixed mortgage rates, so if this trend persists, we might see widely available fixed-5-year rates in the 2.50% range once again in February.    ____________________________________________ Bank of Canada Now Buying 10-year CMBs   The Bank of Canada announced yesterday that effective immediately, the Bank will expand the Canada Mortgage-Backed securities (CMBs, which are government-guaranteed) it can purchase in the primary market to include 10-year fixed-rate bond issues. In 2018, The Bank expanded the assets it acquires to 5-year fixed and floating CMBs. The Bank held $517 million of these 5-year CMBs as of …
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Weak New Listings Slow Canadian Home Sales as Prices Continue to Rise

Sellers Housing Market  Now in the Greater Toronto Area (GTA) Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in the final month of 2019, ending a streak of monthly gains that began last March. Activity is now about 18% above the six-year low reached in February 2019 but ends the year about 7% below the peak recorded in 2016 and 2017 (see chart below). There was an almost even split between the number of local markets where activity rose and those where it declined, with higher sales in the Lower Mainland of British Columbia, Calgary and Montreal offsetting declines in the Greater Toronto Area (GTA) and Ottawa. Actual (not seasonally adjusted) activity was up 22.7% compared to the quiet month of …
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Sigh of Relief as December Jobs Report Rebounds

Welcome Rebound in Labour Markets in December For this notoriously volatile data series, it is particularly true that ‘one month does not a trend make.’ Following last month’s dismal employment report, job growth rebounded in December, erasing almost half of the earlier decline (even more if you exclude transitory factors in November). As well, the unemployment rate reversed much of its November spike, capping the second-best year of job growth since the recession and supporting the Bank of Canada’s view that the Canadian economy is resilient. Canada’s economy created 35,200 net new jobs in December, bringing the total number of jobs added to 320,300 in 2019, the second-most since 2007. The jobless rate ticked down three basis points to 5.6% and wage gains decelerated to a still-healthy 3.8% from a year earlier. All of the job creation was in full-time employment in the private sector. Provincially, employment gains in December …
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Bank of Canada Interest Rate as of December 2019

The Bank of Canada is maintaining the interest rate at 1.75% as of December 2019. The bank has confirmed that there are ongoing trade conflicts and uncertainty are preventing business investment, trade, and global growth in Canada. 🇨🇦🗞️ The global economy is stabilizing and economic growth is expected to increase over the next couple of years. The next interest rate announcement is January 22nd.. Stay Tuned! 👀🗞️ . To learn more about the Bank of Canada’s decision visit https://bit.ly/2DN7WPo The scheduled dates for the interest rate announcements for 2020 are as follows: Wednesday, January 22 Wednesday, March 4 Wednesday, April 15 Wednesday, June 3 Wednesday, July 15 Wednesday, September 9 Wednesday, October 28 Wednesday, December 9

Happy New Year!

We just want to say how thankful we are for your support and trust in us this year, and we wish you all the best as we enter a brand new decade. Happy New Year from all of us at TheValkoTeam! ❤️🎉🎉

4 Reasons Mortgage Brokers are Better than BANKS!

More Choice – Banks are limited to around 5 products that they can offer you. They will try to fit you into one of their products even if the financial institution next door has a better one for you 🏡 Better Representation – Brokers are your champions, whereas bankers are employees. They put their employer’s interest(s) first 💰 More Benefits – If you are moving into a home that is more than one year old, you probably do not have a home warranty. Brokers have 3 lenders who offer home warranties, which can cover repairs to the plumbing, heating and electrical systems with a small deductible 🛠 Better Protection – It may not sound like much but we have the same coverage as the banks offer with one important difference – portability. While we take care to place you with a good lender, circumstances change and lenders may not offer …
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First-Time Home Buyers Incentive Program!

The new First-Time Home Buyers Incentive allows eligible first-time homebuyers, who have the minimum downpayment for an insured mortgage, to apply to finanace a portion of their home purchase through a form of shared equity mortgage with the Government of Canada. Lower monthly mortgage payments Interest-free incentive program No pre-payment penalty Newly constructed homes eligible for 5% or 10% Exisiting homes eligible for 5%   Ready to get started? Contact us today

Williamsburg Community Festival was AMAZING!

What an AMAZING time we had a the Williamsburg Community Festival!  We absolutely love getting to know members of our community and enjoying community events with our families. We live and work here in KW – coming together matters to us. Check out our photo gallery of the event! THANK YOU to everyone who stopped by our booth to say hello and fill out a ballot to win tickets to various Toronto sports games.  We will be doing the early bird draw on September 27th. ⬇️YOU STILL HAVE TIME TO ENTER!⬇️   ✅ Leave us a 5-star review on Google here:  g.page/TheValkoTeam/review ✅ Like 👍 our Facebook Page here:  FB/TracyValkoTeam  EARLY BIRD DRAW SEPTEMBER 27, 2019 OFFICIAL DRAW OCTOBER 1, 2019

August Data Confirms That Housing Has Turned the Corner

Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the sixth consecutive month. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. Toronto, Montreal and Vancouver all saw sales and prices rise. CREA updated its 2019 sales forecast, now predicting a 5% gain this year. Gains were led by a record-setting August in Winnipeg and a further improvement in the Fraser Valley. These confirm signs that the country’s housing market is returning to health. Actual (not seasonally adjusted) sales activity was up 5% from where it stood in August 2018. The number of homes that traded hands was up from year-ago levels in most of Canada’s largest urban markets, including the Lower Mainland of British Columbia, Calgary, Winnipeg, the Greater Toronto (GTA), Ottawa and Montreal. New Listings The …
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