Smarter Loans Inc. is not a lender. Smarter.loans is an independent comparison website that provides information on lending and financial companies in Canada. We work hard to give you the information you need to make smarter decisions about a financial company or product that you might be considering. We may receive compensation from companies that we work with for placement of their products or services on our site. While compensation arrangements may affect the order, position or placement of products & companies listed on our website, it does not influence our evaluation of those products. Please do not interpret the order in which products appear on Smarter Loans as an endorsement or recommendation from us. Our website does not feature every loan provider or financial product available in Canada. We try our best to bring you up-to-date, educational information to help you decide the best solution for your individual situation. The information and tools that we provide are free to you and should merely be used as guidance. You should always review the terms, fees, and conditions for any loan or financial product that you are considering.
Sean Cooper was able to pay off his mortgage in just 3 years and is the best selling author of Burn Your Mortgage. As someone deeply involved in real estate, Sean is constantly analyzing the real estate market in Canada. We invited Sean to the Smarter Loans studio so he can share his top real estate trends going into 2020.
Hi I’m Sean Cooper, author of “Burn Your Mortgage” and I’ve been analyzing the market and here are the top real estate trends I see in the coming months.
The first trend is low interest rates.
With the uncertainty right now in the economy and the fact that the Canadian economy isn’t growing as quickly as anticipated, I foresee interest rates remaining low for at least the end of 2019 heading into 2020, so that’s good news for mortgage borrowers.
Trend number two is shared equity mortgages.
Shared equity mortgages are something new, coming out in September of 2019 and essentially what it is, is the government is going to be sharing in the ownership of your property so if you’re buying a resale property they’ll give you up to 5% of the down payment if you’re buying a new property it’s 10% of the downpayment. That helps your mortgage payments be more affordable and that helps you get into the real estate market sooner. The only limit to that is you can only spend up to $480,000 on a property so in more affordable markets like Winnipeg and Saskatoon it might help but in markets like Toronto and Vancouver there aren’t a lot of properties at that price point so I don’t think it’s going to have as much of an effect there.
Trend number three is modest price gains in terms of home prices in Toronto Vancouver.
I just don’t see the home prices going up at gangbuster rates a system going up perhaps 2, or 3 or even 5% in Toronto but I don’t see them going up at a crazy rate like they were perhaps two or three years ago. The mortgage stress test has made it more challenging to qualify for a mortgage so that’s definitely put a bit of a damper on the market but I do still see them going up about the rate of inflation.
For female entrepreneurs, it can be incredibly helpful to have a male counterpart who is equal to them support their opinion. That is not to say that women can't convince others by themselves, but having someone else support them will get their message out and accepted much quicker.July 16, 2021
Having women on your team can widen the perspective and ultimately improve your business. Dimple Lalwani recommends to look at the numbers of businesses with women in leadership positions vs. only men. She predicts that businesses that don't emphasize diversity will not be able to catch up long term.July 14, 2021
Dimple Lalwani talks about her journey as an entrepreneur. From working in the hospitality industry to having her own businesses in the UK, to moving to Canada for new opportunities. For her, starting her own business wasn't the most important aspect. Since joining LOOP, she's worn many different hats and it's been a rewarding experience for her.July 5, 2021