Fast Five | February 2020

Feb 6, 2020

Round 2 of our “Fast Five” Series. This month we are covering our usual 5 key things you need to know about the mortgage industry. We send this out in our monthly newsletter but also want to keep you in the loop if you aren’t yet on our mailing list. So without further ado, here are your Fast Five for February


Make Your Declaration For Your Speculation & Vacancy Tax Exemption

Don’t forget to file your exemption before the deadline on March 31 2020! All residential property owners in the designated taxable regions must complete an annual declaration for the speculation and vacancy tax. You can file online HERE


Canadians Feel Strong About the Economy!

The latest numbers are in and Canadians are feeling confident about the economy. The latest edition of the Bloomberg Nanos Canadian Confidence Index stood at 56.4 as of the end of January, which was nearly unchanged from the level seen at the end of December.To read more, click HERE.


Vancouver Housing Market Off To A Strong Start In 2020

Home sales activity in the Metro Vancouver housing market continues to improve on 2019’s slump. Data from the Real Estate Board of Greater Vancouver shows a 42.4% increase in sales year-over-year with 1,571 homes sold. This is also up 22.1% from December. You can read the full report HERE.


GLM Named To CMP Hot List!

We are so proud to be apart of this list! Only a few brokers are inducted into it each year and we thank you all for your support. To see the full list of Hot List Members, check out the latest edition of Canadian Mortgage Professionals Magazine.


TD Cuts Posted Mortgage Rate

TD cut its five-year posted rate for fixed-rate mortgages from 5.34 per cent to 4.99 per cent, while the bank’s customer, or “special” rate stands at 3.09 per cent, or 3.11 per cent with annual carrying fees included. Read more HERE.

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