Jessi Sandhu - Your Brampton Real Estate Agent
Home Owners News and Articles | My Blog

New mortgage activity slowing - but debt continues rising, says CMHC

11/9/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgages-475.jpg - Real Estate News Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ... More


Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem

11/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

bank-of-canada-governor-481.jpg - Real Estate News Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More


Most Canadian mortgage holders facing big payment shock: RBC

10/31/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

couple-managing-debt-449.jpg - Real Estate News Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More


Ontario legal experts pushing to close loophole that allows scammers to mortgage homes without victims' knowledge

10/18/2023 | Posted in Home Owners by Jessi Sandhu

calculator--analysis--reporting-128.jpg - Real Estate News Police forces and legal experts in Ontario are pushing for the provincial government to make legislative changes that would reduce elaborate fraud scams targeting homeowners. ... More


Homeowners brace for mortgage payment shock amid higher-for-longer rate outlook

10/2/2023 | Posted in Home Owners by Jessi Sandhu

contract-real-estate-mortgage-102.jpg - Real Estate News With interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain as ... More


Mortgage interest costs now up over 80% since the start of the BoC's rate hikes

9/14/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

debt-stress-frustration-98.jpg - Real Estate News Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More


Cities worry COVID-19 could shatter their budgets

3/27/2020 | Posted in Home Owners by Jessi Sandhu

senior-couple-calculating--taxes--debt-462.jpg - Real Estate News It's very likely that COVID-19 will shatter Ontario's municipalities' budgets, and without provincial or federal help they will have no option but to increase the ... More


Homeowners' spending on renovations falls to 6-year low

6/5/2019 | Posted in Home Owners by Jessi Sandhu

home-maintenance--repairs-99.jpg - Real Estate News Canadian homeowners continue to cut back on home renovation spending in 2019: CIBC Poll ... More


These renovations will boost appraisal values the most

4/30/2019 | Posted in Home Sellers by Jessi Sandhu

home-maintenance--repairs-99.jpg - Real Estate News Homeowners wanting to maximize the appraisal value of their home should think about outside space. ... More


Canadian homeownership rates still among highest globally

3/6/2019 | Posted in Canadian Housing Market by Jessi Sandhu

sold-home-for-sale-260.jpg - Real Estate News Homeownership rates in Canada remain among the highest in the world despite housing affordability concerns across the country, according to the Royal Bank of Canada (RBC). ... More


Canadian Rental Rates Rise At Fastest Pace In 30 Years

3/3/2019 | Posted in Canadian Housing Market by Jessi Sandhu

own-or-rent-sign-120.jpg - Real Estate News The cost of rental housing jumped by the most in 30 years in January, according to Statistics Canada data. ... More


Mortgage renewals have entered a new era

11/6/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgage-button-248.jpg - Real Estate News As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher ... More


Home renovations surge

7/27/2018 | Posted in Home Owners by Jessi Sandhu

home-maintenance--repairs-99.jpg - Real Estate News Canadians spent nearly $78bln on renovations last year, but a slower sales cycle could impact that figure. ... More


Reverse mortgage: Is this the solution if you retire cash-poor?

7/18/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

property-value-108.jpg - Real Estate News A reverse mortgage can be a solution for some cash-strapped retirees, but it comes at a steep cost. ... More


Canadian homeowners trim spending on home renovations in 2018

6/1/2018 | Posted in Home Owners by Jessi Sandhu

handyman-home-maintenance-270.jpg - Real Estate News Spending drops as much as 25 per cent in some provinces as more homeowners focus on wear and tear. ... More


Millennials driving Canada's hot real estate market

5/9/2018 | Posted in Canadian Housing Market by Jessi Sandhu

movers-24.jpg - Real Estate News Almost six in 10 Canadian millennials are already homeowners, with more of this age group planning to buy a home in the next two years, according to a Genworth Canada survey ... More


5-year mortgage holders, brace yourselves

1/19/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

contract-real-estate-mortgage-102.jpg - Real Estate News The Bank of Canada’s decision to raise its benchmark rate to 1.25% earlier this week will make renewals a significantly more daunting prospect for mortgage holders. ... More


Foreign buyers a minuscule portion of housing market: CMHC

12/21/2017 | Posted in Foreign Buyers by Jessi Sandhu

business-meeting-notes-105.jpg - Real Estate News Foreign buyers make up a minuscule portion of the overall housing market in this country, new research shows, but what they own is more expensive and newer than the average ... More


Home values boost Canadian family net worth

12/8/2017 | Posted in Financial Health by Jessi Sandhu

property-value-108.jpg - Real Estate News Canadian families increased their net worth by 14.7% in the four years from 2012-2016 according to new data from Statistics Canada. ... More


3 in 10 Canadians consider themselves debt-free while carrying a mortgage

11/24/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

business-meeting-notes-105.jpg - Real Estate News More than half of Canadians say they have good knowledge of debt management, yet many Canadians who hold a mortgage don’t believe they’re in debt at all. ... More


Almost half of Ontario homeowners expect their home to fund retirement

9/27/2017 | Posted in Ontario News by Jessi Sandhu

property-value-108.jpg - Real Estate News A large share of homeowners in Ontario are counting on home values increasing to ensure they have sufficient retirement funds. ... More


GTA sellers face a refresher course in economics

8/25/2017 | Posted in GTA Real Estate by Jessi Sandhu

handing-over-keys-to-home-buyers-124.jpg - Real Estate News The basic lesson: A property is worth what a buyer is willing to pay ... More


Refinancing is driver of new loans growth: CMHC

8/9/2017 | Posted in Mortgage News by Jessi Sandhu

contract-real-estate-mortgage-102.jpg - Real Estate News The number of new mortgages continued higher in 2016 but the share of first-time buyers slipped, CMHC says. The crown corporation reports that there were just over 1 million ... More


If you haven't disclosed your home's rental suite, you may be breaking the law

8/6/2017 | Posted in Home Owners by Jessi Sandhu

house-for-rent-87.jpg - Real Estate News A rental suite is a great way to help homeowners meet their mortgage payments at a time when home prices are creeping ever upward in some parts of Canada. ... More


Homeowners worried over rate hike advised to lock in mortgages - experts

6/22/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgage-cloud-44.jpg - Real Estate News Homeowners with variable rate mortgages losing sleep over the increased chatter about a potential interest rate hike by the Bank of Canada should consider locking their rates in ... More


Why consumers should be wary of using the wildly popular home equity lines of credit as ATMs

6/9/2017 | Posted in Financial Health by Jessi Sandhu

contract-real-estate-mortgage-102.jpg - Real Estate News A federal agency is warning consumers addicted to home equity lines of credit — a product increasingly driving debt — could find themselves at increased risk of ... More


More Canadian homeowners will renovate this year, but spend less to spruce up their space: CIBC Poll

5/30/2017 | Posted in Home Maintenance by Jessi Sandhu

home-maintenance--repairs-99.jpg - Real Estate News With average household debt and housing prices at record highs across Canada, a new poll by CIBC finds that a growing number of Canadian homeowners (48 per cent) are choosing to ... More


A 10% hike to mortgage payments would sink almost 3 quarters of homeowners, Manulife says

5/25/2017 | Posted in Financial Health by Jessi Sandhu

debt-stress-frustration-98.jpg - Real Estate News Almost three quarters of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10 per cent, a new survey from ... More


Obsession with home ownership driving Toronto affordability crisis, report finds

5/23/2017 | Posted in Toronto Real Estate by Jessi Sandhu

home-buyers---client-handshake-130.jpg - Real Estate News The Toronto area will need up to $150 billion in new home construction in the coming decade and most of that should be rental units, says a report from the Canadian Centre for ... More


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