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Housing Prices Continue to Creep Up

Dr. Sherry Cooper is Dominion Lending Centres’ Chief Economist, and in her latest blog post, she looks at the recent mortgage rule changes, current market trends, and even the effects of the US Presidential election that could be felt here in Canada. It looks like more and more people are taking advantage of the high housing demand in our area, as the number of houses that were listed in October rises, as expected. NEW LISTINGS EDGE UPWARD The number of newly listed homes climbed 1.7% in October compared to the prior month. Led by a marked increase in the GTA, new listings increased in about 60% of all local markets. Housing inventory has been in acutely short supply in the GTA. The rise in new listings last month supported a rise in sales in the GTA and nationally. The national sales-to-new listings ratio at 62.9% in October, compared to 62.4% …
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We are one of the top 50 Brokerages in Canada!

I want to give a huge thanks to my team today.  CMP Magazine just named us one of the top 50 Brokerages in Canada! You can read all about us in the latest issue. Our team is committed to helping you reach your short and long term financial goals.  As I explain the article, humility and integrity go a long way in this industry.  Honesty and integrity are some of the values each of my team members hold to each and every day with our clients. Having a passion and a desire to truly help clients takes special attention and care. With each and every mortgage transaction, we strive to go above and beyond the competition. This is a huge honour for The Valko Team, and we are beyond thrilled!  It really is a privilege to help such amazing clients every day. -Tracy .  

Ottawa announces Changes to Slow the Housing Market

Yesterday, Ottawa revealed some new rules to mortgage financing in Canada that can affect the way that Canadians qualify for a mortgage, in light of the hot housing market that we have been seeing as of late.  These changes take effect on October 17th, 2016. Below, Dr. Sherry Cooper, Dominion Lending Centres’ Chief Economist goes over these changes, and how they could apply to you:   Yesterday, Ottawa unveiled major initiatives to slow housing activity both by potentially discouraging foreign home purchases and, more importantly, by making it more difficult for Canadians to get mortgages. As well, the Finance Minister is limiting the degree to which mortgage lenders can buy portfolio insurance on mortgages with downpayments of 20% or more. Ottawa has clearly taken out the big guns to slow housing activity, which is widely considered to be too strong in Vancouver and Toronto. Ironically, home sales have already slowed precipitously …
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Kitchener-Waterloo’s Housing Market is Getting Hotter by the Day

by Sandra Rohfrietsch   While it’s certainly easy to be intimidated by the prices that you might see as you browse MLS into the wee hours of the night, mortgage interest rates are still at a historical low.  If you’re looking at purchasing for the first time, you’re thinking, “What does that mean?!”  With rates as low as they are, the cost of borrowing associated with your mortgage is lower than ever before.  You also need to look at other fees that can be tied to different mortgage products.  For example, some mortgages don’t allow for additional or increased payments, while others allow you to pay down your principal mortgage amount by up to an additional 20% per year, saving you money over the lifetime of your mortgage. It’s important to recognize and understand these options and fees, and that is where a Mortgage Broker comes in.  Brokers and their …
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New Innovation Complex Coming to Kitchener-Waterloo!

Karen K. Ho The Globe and Mail Published Tuesday, Jun. 21, 2016 5:26PM EDT Kitchener-Waterloo is set to get a large new innovation complex specifically aimed at new hardware companies and exceeding the size of a pioneer facility in Shenzhen, China. The 475,000-square-foot project, named Catalyst137 after its Kitchener address on Glasgow Street, was announced on Tuesday by Frank Voisin, president of real estate investment firm Voisin Capital, and Miovision Technologies chief executive Kurtis McBride. This is a catch-all ASF view; only displays when an unsupported article type is put in an ASF drop zone Tech firm Miovision, which specializes in the collection and analysis of traffic data, is currently located in Kitchener, Ont. Mr. McBride said the idea for the almost five-hectare building started when his company went to its 120 employees for ideas on where they should move and the amenities they’d like in their new space. “They gave …
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