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Join Tracy’s Financial Wellness Webinar this Sunday, April 26th at 2pm! WE ARE HERE FOR YOU! #wearehereforyou Take an hour, it could change your life! Register Now  

We can still be reached by email, phone, text and we are now utilizing video-conferencing to better serve you while we observe the order for social distancing. We are NOT shut down. We are doing everything we can to make sure that business continues to run smoothly and that your interests and concerns are made a priority. Stay home.  Be safe.  Let’s arrange a call or video chat. WE ARE HERE FOR YOU     We, as a team, are working responsibly and diligently setting up virtual appointments by phone and video call with those who have questions or concerns. Please feel free to contact us! We are #HereforYou Update from The Valko Team: With the current outbreak of COVID-19. we wanted to take this opportunity to let you know that The Valko Team is here to assist you with your mortgage needs and address any questions or concerns you may …
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The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. The Bank of Canada notes: “While Canada’s economy has been operating close to potential with inflation on target, the COVID-19 virus is a material negative shock to the Canadian and global outlooks, and monetary and fiscal authorities are responding.” Furthermore, the bank adds that “as the situation evolves, Governing Council stands ready to adjust monetary policy further if required to support economic growth and keep inflation on target. While markets continue to function well, the Bank will continue to ensure that the Canadian financial system has sufficient liquidity.”

Home sales were slower in November. However, sales are up 4% over last year and trending above average. 📈 Read more here: https://kwar.ca/slow-sales-big-price-gains/

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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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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  In order to find out how the current rate impacts you, we must first identify if you are an insured or uninsured borrower. Do you have less than 20% down? Securing an insured mortgage (otherwise known as a high-ratio mortgage) means you have less than 20% down, and your mortgage will be backed by the Canada Mortgage Housing Corporation (CMHC), Genworth or Canada Guaranty. The insurance premium is a one-time amount added to your final mortgage balance. A mortgage with less than 20% down is required to have insurance. This insurance is also referred to as default insurance which protects the mortgage lender in case there is a loss in principal balance as a result of a mortgage foreclosure. Both the lender and the insurer need to approve your application. The maximum home price allowed on an insured mortgage is $999,999. The maximum amortization for an insured mortgage is …
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On the same day, a report was released urging the sale of government-owned surplus lands, Doug Ford’s government did just that. The auspicious announcement concerns 200 affordable units included in two towers near Yonge and Wellesley Sts. in downtown Toronto, to go along with 700 purpose-built rental units, retail, and a daycare centre. The land was flipped to developers for $36 million, and according to Joe Vaccaro, CEO of the Ontario Home Builders’ Association, it’s a sign that, unlike the Kathleen Wynne-led Liberals, the Progressive Conservatives aren’t wasting time solving the housing crisis. “This government is very focused on the outcomes right now,” said Vaccaro. “In the past, it’s been about ‘Process, process, process,’ but this government wants the outcome and is very consistent with cutting red tape and its ‘open for business’ approach. Today’s deal has been in the works for a while and I think it’s the beginning …
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