We have a huge week ahead of us! Canada is in the Stanley Cup finals, Go Oilers! The kids are getting out of school, and the real estate market is on fire! In this video, I will be telling you about the current Canadian mortgage and real estate news along with some tips to watch out for if you are planning on buying or selling a home this summer.

1. Last week our team saved 6 deals from falling apart that were declined by banks or other brokers! This allowed for our client to meet their real estate goals, and it allowed for the realtors that referred them to earn a living!
2. We are the easiest way to get approved for a mortgage in Canada!
3. The bank of Canada lowered it prime lending rate for the first time in 4 years, so people can now qualify for more and the variable rates have decreased by 0.25%. Variable rates are now as low as 5.85%
4. The fixed mortgage rates have also started to go down a bit, we now have fixed rates as low as 4.64 for a 5 year fixed term
5. Things are starting to move really fast right now, with many homes going into multiple offers and lineups outside of some homes in the $200-$400k category.
6. I filmed a bunch of videos to help people learn the market, Including some about writing unconditional offers and fraud. Feel free to share these wit anyone you know that is looking at real estate right now.
7. In the news, we have found that Alberta is currently the fastest growing market, while Ontario. and BC markets have been relatively the same as last month. The. new rates have not had that much of a positive affect on these markets.
8. There is a lot of news about a housing crisis in Canada. I am not seeing any of this, however I am seeing an influx of people with bad debt needing to refinance. This could be to many people being on variable rate that got out of control. I recommend that anyone with a low risk tolerance to lock in to a fixed rate to avoid the market fluctuations.
9. Canadian buyers looking to move to Alberta, should be. looking into this sooner rather than later, the market in Alberta is increasing at a rapid pace and prices will increase with every month. that passes.
10. There has been an increase in mortgage fraud and straw buyers in Canada in the last 6 months
11. I have also been seeing a lot of people removing conditions too early and losing deposits. Be aware of this and do your due diligence