David Hynes: The Home Mortgage Centre

🏠 Exciting news! The federal government has approved 30-year amortization periods for insured mortgages for first-time home buyers on new homes. Thank you to everyone who contributed to this significant win for affordability and accessibility in homeownership! 🙌

https://www.mpamag.com/ca/mortgage-industry/market-updates/government-to-allow-longer-amortizations-for-certain-first-time-buyers/484849?hsmemberId=196188&tu=be34ae23-48a2-46ef-a7a4-d5672dcc87d1&utm_campaign=&utm_medium=20240412&_hsenc=p2ANqtz-8bVFJ334VZQ16J7mXcpAxnuekzRy2UjtfzEuBLIdVx6V8GWhvuppEyv8UZyrZG98VmVNXayvVzx3y4C6WnF_CcI0S6IdJsrzszMucpifmNLOIIa-I&_hsmi=302443735&utm_content=be34ae23-48a2-46ef-a7a4-d5672dcc87d1&utm_source=

Government to allow longer amortizations for certain first-time buyers Freeland opens the door to 30-year ams

https://windsor.ctvnews.ca/video/c2888388-spring-real-estate-outlook?utm_campaign=Daily+News&utm_medium=email&_hsmi=299037864&_hsenc=p2ANqtz--35oA7UYhQHz8zD_QeyV7vjNLxkiAS__3jgyk-FpK-WvC3zoq8eYtAKvXueNikp8w8zY0rL1ad0cQWvvNRJQAriZBRTlQ6qr581xBlJwA-7N9hgkw&utm_content=299037864&utm_source=hs_email&__vfz=medium%3Dsharebar

Spring real estate outlook WECAR explains a few of the reasons why they expect a resurgence in local real estate. CTV Windsor’s Chris Campbell has details.

https://calgaryherald.com/life/homes/home-prices-expected-to-climb-in-spring-real-estate-season

Home prices expected to climb in spring real estate season Tight supply of homes for sale along with a market with an appetite to buy could push home prices upward.

https://globalnews.ca/news/10363565/new-bare-trust-reporting-requirements-tax-season-2024/?utm_campaign=Daily%20News&utm_medium=email&_hsmi=298670162&_hsenc=p2ANqtz--iXFNnVagRobUG1yf71BhVNQVkbc2-1HMOtiqc4ksiKhiwml0uIfLOpiFvPI-hYyftK_xk_lanwu-4T58tp69SazPTchOYPxHNRs3vyOoLg36oRlw&utm_content=298670162&utm_source=hs_email

Did you co-sign your kid’s mortgage? There are new tax reporting rules to know - National | Globalnews.ca Bare trust reporting is a new requirement by the CRA this year, but most Canadians are likely unaware of its existence — or penalties.

Girls in Afghanistan have been banned by the Taliban from going to school. They are risking their lives to study in underground schools and tell their stories.

Malala Yousafzai became an international symbol of the fight for girls' education after she was shot in 2012 for opposing Taliban restrictions on female education in her home country of Pakistan.

Celebrate International Women's Day with a gift to Malala Fund Join Malala Fund in fighting for every girl’s right to learn. Your gift today will help build a world where every girl can choose her own future.

The current Bond yield curves are inverted, as they have been for some time. That's because the market is betting inflation, in the long term, will be lower than today. If the market is right, it seems to be betting this level of inflation will persist for 6-18 months.
How does this affect mortgage interest rates? Shorter term mortgage rates will be higher than long term rates as a result of the inverted yield curve. That's why variable-rate and short-term fixed rate mortgages have higher rates than 5-year fixed rates.
Keep a watch on bond yields as they can predict the movement of mortgage rates. For example, if the 5 year bond yield rises, you can expect the 5 year mortgage rate to increase.

Eight times a year, the Bank of Canada meets to decide on where to set its benchmark rate, which impacts the rates that retail banks pay for short-term loans. In early March we saw the Bank maintain its benchmark rate at 5.0%, the fifth decision in a row it has left rates unchanged. The Bank of Canada gave no indication in its March announcement that interest rates are set to fall soon – but the central bank is still likely to cut in June, according to respected economist Benjamin Tal.

Thank-You to all my clients & realtors who continue to send business my way. My 24 years of success in this industry is only because of you.

Mortgage Centre Canada’s Ambassador’s Club Bronze Award recognizes Mortgage Specialists who have funded $10 to $25 million during the 2023 fiscal year.

St. John’s Mortgage Centre Broker of the Year 2023.

Thanks to my MC coworkers and owners, thanks to all my clients and realtor supporters. Love my job and love this place, best job I’ve ever had.

Happy 2024 everyone.

https://financialpost.com/news/economy/bank-of-canada-stop-hiking-interest-rates?utm_medium=Social&utm_source=Facebook&fbclid=IwAR0haXmg63nHjSnNb9bDCoUMixf3NcL05tsLTnX5Olrj7DaimVoiMiLh29o =1690198188

Bank of Canada should stop hiking interest rates now: Benjamin Tal CIBC's Benjamin Tal talks about why he thinks the Bank of Canada has started overshooting with interest rate hikes. Watch here.