Announcements | Stanfield Mortgages

Budget 2021 Reveals Little Change to Housing

by Robert Stanfield | Apr 23, 2021 | Announcements, Blog, Economy, Finance, Homeownership

Labelled one of the most widely anticipated and important budgets of our time, Budget 2021, delivered on April 19th, lived up to its promise. The first budget in over two years and first since the outbreak of the global pandemic, Budget 2021: A Recovery Plan for Jobs,...

Enhanced Protection Introduced for New-Home Buyers in Ontario

by Robert Stanfield | Feb 19, 2021 | Announcements, Blog, Homeownership

For many Ontarians, buying a new home represents a more suitable option than buying resale. The residential construction industry represents one of the largest sectors in the country, with the Canadian Home Builders’ Association reporting that 25% of all homes...

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

by Robert Stanfield | Dec 9, 2020 | Announcements

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented...

The Mortgage Deferral Program is Over. Now What?

by Robert Stanfield | Oct 23, 2020 | Announcements, Homeownership, Mortgage

The federal government introduced a six-month Mortgage Deferral Program – which officially wrapped up September 30th – to help Canadians stay in their homes while the job market recovered from COVID-19. With the deferral program coming to an end, stress has mounted...

Have an Insured Mortgage? How Could CMHC Changes Affect You?

by Robert Stanfield | Jun 5, 2020 | Announcements, Blog, CMHC, Finance, Mortgage

The COVID-19 pandemic is having an impact on all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely affecting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the...

If Your Mortgage Rate is 3% or Higher, Consider a Review

by Robert Stanfield | Mar 13, 2020 | Announcements, Blog, Economy, Homeownership, Mortgage

Concern surrounding coronavirus – COVID-19 – has led to a crash in oil prices and economic uncertainty surrounding capital markets, which has resulted in most Canadian banks significantly reducing both fixed- and variable-rate mortgage rates. Around the world...