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Brent Richardson
Principal Mortgage Broker/ Owner (Lic. # M08006143), Certified Financial Planner (CFP) Altrua Financial Inc. Lic. #13005
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Ground Level Updates on Mortgages and the Housing Market, before it hits the news
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Too busy locking in fixed rate mortgage renewals to post much (37+ lock-ins in the last week)…
But just an FYI last time 5 YR Bond yields were 3.80%, most 3 YR fixed rates were closer to 5.75%
4.84% 3 yr renewal still available for many
Consumer spending in Canada is seen as reversing, even with rates peaking out... this is not good news for a June rate drop... buckle up for a bumpy 2024...
According to a trusted doctor family member, there are enough doctors in Canada to perform advanced surgeries, such as hip replacements
The problem is, the local health networks (ie. LHINs), won't pay for the hospital space to complete them
And there's still a GP shortage...
The biggest problem for most investors and advisors is that they are trying to time the markets.
Every time you get the itch to do so, consider that your are competing with the most sophisticated asset managers spending billions to win in markets.
I can tell you... In Canada it ain't much prettier..
Canada announces direct linkage for lenders to CRA to prevent mortgage fraud. Its about time!
Also, with full CRA access (with client consent), this linkage should make it easier for many to complete their mortgage application without scrambling for tax docs!
Canadian Pension Plan (CPP) is a tail risk hedge.
It protects against 3 risks, and some of those risks increase as you get older:
1. Inflation
2. Sequence of returns
3. Longevity
It's like insurance.
If you end up needing it, it will be money very well spent.
Seeing a major uptick of clients make large payments against their mortgage or complete pay out at renewal time
An income tax favourable, guaranteed return of ~5%, and an increased cash flow with no mortgage payment is looking pretty good these days…
A lower credit rating for Canada would result in a financial death spiral…
As interest costs increase, even more new debt would be issued to service the debt, resulting in an even lower credit rating
Canada’s AAA Credit Rating at Risk From Deeper Deficit, RBC Says
(Bloomberg) -- Canada is at greater risk of losing its AAA credit rating than other top-rated countries if the g...
ca.finance.yahoo.com
We are Mortgage Brokers proudly serving customers from 5 locations in Ontario.
Kitchener/ Waterloo (Head Office)
In Kitchener Waterloo Call: 1-877-248-9210
Hamilton
In Hamilton Call: 905-538-0677
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Altrua Financial Inc. is exceptionally committed to respecting the privacy of individuals and recognizes a need for the appropriate management and protection of any personal information that you agree to provide to us. We will not share your information with any third party outside of our organization, other than as necessary to fulfill your mortgage request.