Bank of Canada holds rate, suggests more hikes likely at more cautious pace!!

Bank of Canada holds rate, suggests more hikes likely at more cautious pace!!

The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace.

In its scheduled announcement, the central bank said it held off this time in part because it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation.

To make its case, the bank also pointed to the substantial, persistent unknowns around geopolitical developments as well as U.S. related fiscal and trade policies, such as the renegotiation of the North American Free Trade Agreement.

Governor Stephen Poloz has introduced two rate hikes since July at consecutive policy meetings in response to the economy’s impressive run over the last four quarters. The increases removed the two rate cuts introduced in 2015 as insurance following the collapse in oil prices.

The bank warned Wednesday it expects to stick to its rate-hiking path, although at perhaps a more-tentative pace.

“While less monetary policy stimulus will likely be required over time, governing council will be cautious in making future adjustments to the policy rate,” the bank said in a statement.

The bank stressed it will pay particular attention to incoming data to assess the unfolding impact of higher interest rates, the evolution of economic capacity, wage growth and inflation. Its next rate announcement is set for Dec. 6.

The central bank also released updated projections Wednesday that forecast economic growth to moderate after Canada’s powerful performance, particularly since the start of the year.

It now expects growth, as measured by real gross domestic product, to slow from its robust annual pace of 3.1 per cent this year to 2.1 per cent in 2018 and 1.5 per cent in 2019.

The economy expanded at a annual rate of 3.7 per cent in the first three months of 2017 and 4.5 per cent in the second quarter. The bank’s latest outlook now predicts real GDP to grow at an annual rate of 1.8 per cent in the third quarter and 2.5 per cent in the final three months of 2017.

“Real GDP growth is expected to moderate to a still-solid pace close to two per cent … over the second half of the year,” the bank said.

The bank forecasts declining contributions from residential investment and consumption, which largely fuelled Canada’s recent growth spurt. These changes will largely be consequences of higher borrowing rates, higher household indebtedness and policy measures aimed at cooling hot real estate markets, the report said.

The bank provided an estimate for the economic impact of incoming guidelines to reinforce mortgage underwriting practices, which were announced recently by the Office of the Superintendent of Financial Institutions. The changes, which will take effect Jan. 1, are expected to trim 0.2 per cent from GDP by the end of 2019, the bank said.

Moving forward, the bank said economic activity will advance on a “more-sustainable” trajectory led by rising foreign demand, recent increases in commodity prices, still-low borrowing rates and government infrastructure spending. It also projects steady growth in business investment, which rebounded in early 2017.

The weaker-than-expected roll out of federal infrastructure spending will provide a smaller boost for the economy in 2017 than the bank had anticipated. The commitments, however, are expected to lift growth over the coming quarters, the report said.

The Canadian Press

MPC : Ottawa’s recent changes to mortgage rules are making homes less affordable for Canadians and dampen housing activity, which could impact economic growth.

Mortgage industry wants lender risk sharing halted, eased stress tests
Mortgage Professionals Canada is concerned Ottawa’s recent changes to mortgage rules are making homes less affordable for Canadians and dampen housing activity, which could impact economic growth. The association’s President and CEO, Paul Taylor explains how and what they want to see done about it on BNN.


Bank of Canada announces rate (Unchanged)

Bank of Canada announces rate Unchanged.

The Bank of Canada is holding its trend-setting interest rate at 0.5 per cent but it’s keeping a watchful eye on “significant uncertainties” that it warns could alter the economy’s improving trajectory.

The central bank’s scheduled rate announcement Wednesday arrived as Canada tries to assess the direction of U.S. economic policy under President Donald Trump and the potential fallout from any changes he may bring.
The bank has said some U.S. proposals, which include tax cuts, a border tax and protectionist policies, would have “material consequences” for Canadian investment and exports.

In an unusually short statement Wednesday, the Bank of Canada used slightly stronger language when referring to U.S. uncertainties than it did in the news release that accompanied its last rate announcement on Jan. 18.

At that time, two days before Trump’s inauguration, the bank indicated that “uncertainty about the global outlook is undiminished, particularly with respect to policies in the United States.”

On Wednesday, the statement did not specifically mention the U.S. uncertainty.

“The bank’s governing council remains attentive to the impact of significant uncertainties weighing on the outlook,” the release said.

In explaining the decision by governor Stephen Poloz’s council to stick with the current interest rate, the bank said that improvements seen in recent data releases have been consistent with its projections.

The central bank also expects growth in the fourth quarter of 2016 _ as measured by real gross domestic product _ might come in slightly stronger than predicted because of recent consumption and housing data releases. Statistics Canada is scheduled to release those GDP figures Thursday.

On the downside, however, the bank said Canadian exports continue to face competitiveness challenges while the job market has seen weaker growth in wages and hours worked.

For inflation, the bank said it’s looking past January’s surprisingly robust headline figure of 2.1 per cent. It said the number was a result of a temporary jump caused by higher energy prices that were largely tied to the implementation of carbon-pricing policies in Ontario and Alberta.

The Bank of Canada was widely expected to leave its benchmark interest rate untouched Wednesday, particularly with so much uncertainty surrounding the policy direction of the country’s largest trading partner.

Analysts were hoping to learn more about the bank’s thinking when it comes to potential U.S. policy changes, but the brief statement offered few details.

The Bank of Canada has yet to factor in the full range of economic policies expected under Trump.

In January, the bank cautioned that its outlook only accounted for the possible effects of the expected U.S. fiscal boost.

On the positive side, it said at the time that fiscal expansion in the U.S. would be a positive for Canada through increased foreign demand. But it added that Trump’s vow to cut corporate taxes would threaten Canadian competitiveness.

Trump has also pushed for the renegotiation of the North American Free Trade Agreement, though he has said the changes to the deal would only involve “tweaking.”

The U.S. proposals have created significant concerns within Corporate Canada and for the federal government.

On Wednesday, Finance Minister Bill Morneau will meet his new U.S. counterpart, Treasury Secretary Steven Mnuchin, for the first time. Morneau and the federal government have been trying to figure out Trump’s plans and how they may affect Canada.

Source: news/bank-of-canada-announces-rate-221894.aspx

Vijay Gandhi, MBF,B.Sc., Mortgage Broker

CENTUM Metrocapp Wealth Solutions Inc.,Licence #: 12147

204A-716 Gordon Baker Rd. 

Toronto, ONM2H 3B4

Direct: 647-267-6338

Cell: 647-267-6338

Office Fax: 888-813-9403

Mortgage Needs? Any-situation !! 

Using A Professional Mortgage Broker Can Save You A Lot Of Time & Stress.

Call : ( 647 ) 267-6338
Service Area : Toronto | Ontario | Canada

Mortgage terms should also be taken into consideration, not just rates.

Most people tend to feel that things will change only by the tiniest degrees in the next decade or two, which is why being aware of the impact of their terms should take top priority.

Sometimes it is new relationships forming where someone buys a condo or is first time home buyer and single, gets a five-year fixed-rate, but then they meet someone and get married… first of all that usually dictates a change in the residency that they have and if the mortgage is broken..

The penalties involved in terminating fixed-rate loans are harsher than those for variable-rate violations. Going for a longer term can protect borrowers in case of interest rate hikes, but conversely, a prevailing environment of low interest rates—such as the present era—make variable-rate options more appealing (despite these being more expensive at the onset).

Bond yields (which influence fixed-rate products) have seen steady growth since the 2016 U.S. elections. Interest rates around the globe is hiking constantly..

The rate difference between a 5-year and a 10-year mortgage has been hovering between 1.5 to 2 per cent.

That’s a big jump in rate, especially in that initial five-year period, to have to pay just to get that rate for the following five years.

However, while irreducible uncertainty does exist when securing loans, observers emphasized that this shouldn’t stop borrowers from going for the option they prefer.

Ultimately, choosing the right mortgage type and term length is a matter of personal preference and what option best suits customers and their personal needs.

For Better Mortgage of your choice visit us and apply online at @

Vijay Gandhi, Mortgage Broker   

Centum Metrocapp Wealth Solutions Inc.*, License #12147 *Independently owned & operated |

716 Gordon Baker Road, Unit 204A, Toronto, On, M2H3B4

Cell: 647-267-6338

Off: 416-289-2224   Fax: 1-888-813-9403

Happy Canada Day to All

Wish everyone Happy Canada Day !!
Canada’s national holiday is celebrated on July 1.
Canadians across the country and around the world show their pride in their history, culture and achievements. It’s been a day of celebration, where many festivities are held across the country, since 1868.
On this day, it’s good to celebrate all the things that bring us together, as a community – and a country. Today, let’s celebrate being neighbours and Great Friends !!
Happy Canada Day from all of us here at :#TeamVijay Real Estate & Mortgage
#gtarealtyagent #centumfirst #fundmax

#homelifemiracle #centummetrocapp #vijaygandhi

Vijay Gandhi

Sales Representative, 

Homelife/ Miracle Realty Ltd. Brokerage*

Mortgage Agent,

CENTUM Metrocapp Wealth Solutions Inc. Brokerage*
Self-employed or employed and looking for a mortgage or Home or Business ??

We have solutions for you!

🌐 | (Apply On-Line) 📞 (647)-267-6338

*O.A.C, Terms &. Conditions Apply

How Simple Changes to a Mortgage Could Mean Big Savings!!

How Simple Changes to a Mortgage Could Mean Big Savings
Most Canadians tend to focus on the interest rate and how much they can save with a lower rate when shopping around for a mortgage but there are other ways they can save money.

By paying a few extra dollars every two weeks rather than the usual monthly payment can help borrowers save thousands of dollars in interest. This can also shorten the time it takes to pay off a mortgage by years.

Making an extra lump sum payment once a year can also help borrowers save a lot of money.

Wade Stayzer, Meridian Credit Union’s Vice President of Sales and Service, says homeowners need to understand how much they can afford to pay and work from there.

According to Wade, people really need to understand their personal financial situation and determine what it is they are trying to accomplish. He also mentioned that the rules surrounding how much borrowers can increase payments or put down in a lump sum payment vary depending on the mortgage contract, therefore it is crucial to read the fine print on the contract.

Wade recommends increasing regular payments over saving up and making an yearly lump sum payment for those looking to pay off a mortgage faster and can afford to do so.

This lump sum payment goes directly towards the principal and not towards the interest, therefore homeowners will save a lot of money in terms of interest.

Wade finally recommends that people need to be mindful of putting more money into investments rather than extra mortgage payments due to record low interest rates. He says the choice will depend on an individual’s financial plan and risk tolerance.


CTV News…/how-simple-changes-to-your-mortgage…

BOC Warnings: Potential Homebuyers on Toronto, Vancouver Risks

Poloz Warns Potential Homebuyers on Toronto, Vancouver Risks

Bank of Canada Governor Stephen Poloz gave one of his bluntest warnings to date about the country’s housing boom, saying Vancouver and Toronto buyers should realize strong price gains probably can’t be sustained by economic fundamentals.

“This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Poloz said in a statement from Ottawa. The bank released its semi-annual Financial System Review Thursday. Poloz and Senior Deputy Governor Carolyn Wilkins are scheduled to hold a press conference at 11:15 a.m.

“This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Poloz said in a statement from Ottawa. The bank released its semi-annual Financial System Review Thursday. Poloz and Senior Deputy Governor Carolyn Wilkins are scheduled to hold a press conference at 11:15 a.m.

Home-price gains in Vancouver accelerated to a 30 percent year-over-year pace in May, from 15 percent at the end of last year, the bank said. In Toronto, the pace of price gains quickened to 15 percent from 10 percent over that period. The two cities are also leading a rise in the share of new mortgages exceeding 450 percent of borrower income, the central bank said.

Markets in the Toronto and Vancouver are exposed to a cycle where rising mortgage debt and prices feed off each other as buyers rush to get into the market, the central bank said, adding a crash is the biggest risk to the financial system. Poloz’s warning about what has been the world’s safest lending system through the 2008 financial crisis follows comments in the past week from bank executives and Vancouver’s mayor that past regulations to tighten mortgage rules haven’t been enough.

“Fundamental factors underpinning housing demand in the greater Vancouver and Toronto areas are strong, but the rapid pace of price increases seen over the past year raises the possibility that prices are also being supported by self-reinforcing price expectations,” policy makers said in the report. “It is unlikely that the current pace of price increases in the greater Vancouver area and greater Toronto area can be sustained.”

The risk of a housing crash remained “elevated” in the central bank’s report, the middle of five risk categories that range from low to very high. The probability of major damage from a housing correction “remains low,” the central bank said, citing the aid of a growing economy.

Positive factors supporting home prices are job growth in Vancouver and Toronto, as well as a strained supply of single-family homes, the bank said.

Policy makers also reiterated the divide between signs of overheating markets in Toronto and Vancouver and the pain felt in oil-producing regions from Calgary to Newfoundland.

Poloz cut his trend-setting interest rate to 0.5 percent last year and said the side effects in a booming housing market are best dealt with by regulators and in the decisions of individual lenders and borrowers. The Governor has said the rate cuts were needed to sustain an economy hit by an oil shock, despite any side effects in consumer finances

Source of above information:

Happy Baisakhi to All !!

Happy Baisakhi to all friends who celebrate !!

We wish you a very Happy Baisakhi. May Wahe Guruji accept your good deeds,

bring all the years full of love and contentment.

Real Estate / Mortgage in Ontario, Canada!! 
Buying or Selling #Home, #Condo, #Business ?

Visit us online or Ask us or Refer us for our service, we will be glad to work for you for real estate or mortgage related services 
You can Search All Real Estate #Listing in Toronto/GTA And SURROUNDING AREAS


Beautiful houses starting around at $400K, see them all here…

Search Your #Home or Refer Us, We love #Referrals.. 
Vijay Gandhi


Sales Representative / Mortgage Agent,

Homelife Miracle Realty Ltd., Brokerage*

CENTUM Metrocapp Wealth Solutions Inc.

Licence #: 12147

Also please remember to refer us in Real Estate & #Mortgage Needs@

#homelifemiracle #vijaygandhi #treb #gtarealtyagent #centumfirst #gtarealtors #homelife #houseforsale #torontorealestate
“Oh, by the way, I am never too busy for any of your referrals…”

Happy New Year 2016!!

Well my friends ….. here we are!!
The last day of 2015 is upon us! Thank You for being here with me. Thank You for your support, your guidance, your laughs, your care, and most of all, your friendship. You were right here beside me for the wins, and more importantly through the losses. You’ve helped make me a better person today than I was 364 days ago.  
Thank You for making 2015 the incredible year that it was. I wish I can fulfill all your needs of home/ investments and mortgage as your wishes and help you thru out your all needs of my service at your doorstep!! 

A huge Thank you for your referral and support, and wish you keep me up!!
I would like to wish all my family members, friends, clients, well wishers, Team HomeLife Miracle & Team Centum Metrocapp & staff and friends and my fellow realtors & brokers,
A very happy, healthy, prosperous, productive and successful 2016!! May all your dreams and aspirations come true.
Happy New Year everyone! & Thank You !!
Once again,
May this New Year bring you all the enthusiasm and the will power you need, to lead you to a path of great achievements, making you extremely happy satisfied and content with life. Wish all you have a very busy and productive year & Have a great year ahead . 

Happy New Year 2016👍👍👍
Also please remember to refer us in Real Estate & Mortgage Needs@

#homelifemiracle #vijaygandhi #gtarealtyagent #centumfirst

HomEquity Bank launches Mortgage Broker Direct

HomEquity Bank launches Mortgage Broker Direct

TORONTO, Sept. 14, 2015 – HomEquity Bank launches its new “Mortgage Broker Direct (MBD)” program this week. For the first time, mortgage brokers will be able to submit deals directly to the bank via D+H Expert upon being certified. Last year, HomEquity Bank’s broker business saw a growth of 39%, with over 1,000 mortgage brokers sending in referrals with an average deal size of $150,000.

The Mortgage Broker Direct program through HomEquity Bank will offer a no-fee certification process to a limited number of mortgage brokers to start. The MBD program will provide brokers with continuing education (CE) credits for completing the certification, a professional designation (Certified Reverse Mortgage Specialist), specialized marketing support and attractive compensation equal to that of selling a regular five-year fixed mortgage.

“Being a HomEquity Bank Certified Reverse Mortgage Specialist gives clients the confidence that their mortgage broker is presenting all options to them” said Fiona Campbell, Partnership Director, HomEquity Bank.

“We are excited for this new chapter at the bank and for our mortgage brokers to consider our CHIP Reverse Mortgage product as a preferred financial solution for their senior clientele. We are confident that Mortgage Broker Direct will change the landscape of our business as we know it” said Steven Ranson, President and CEO, HomEquity Bank.

To promote our new MBD launch and to show our appreciation to our valued Certified Reverse Mortgage Specialists, HomEquity Bank has introduced an exciting launch promotion, rewarding the first certified mortgage broker who refers, funds or achieves a certain threshold of funding with a pre-paid credit card.

About HomEquity Bank


HomEquity Bank is the only national provider of reverse mortgages to homeowners aged 55 and over, Canada’s fastest growing demographic segment. HomEquity Bank originates and administers Canada’s largest portfolio of reverse mortgages under the CHIP Reverse Mortgage and Income Advantage brands. HomEquity Bank has been the main underwriter of reverse mortgages in Canada since its predecessor, Canadian Home Income Plan, pioneered the concept in 1986.

Please Visit for the Service online application or contact: | 647-267-6338

And/or talk your option to
Vijay Gandhi
(Certified Reverse Mortgage Specialist)

Vijay Gandhi, MBF,B.Sc./Mortgage Agent

CENTUM Metrocapp Wealth Solutions Inc. |Licence #: 12147
204A-716 Gordon Baker Rd., Toronto, ONM2H 3B4

Direct: 647-267-6338
Cell: 647-267-6338
Office Fax: 888-813-9403

Reverse Mortgage

CHIP is a reverse mortgage, a loan secured against the value of your home. Unlike a loan or a regular mortgage, with CHIP you are not required to make payments. You only repay the loan when you move or sell your home.

You are required to keep your property in good maintenance, pay your property taxes and property insurance.

The money you receive is tax-free and yours to use as you wish.


income-advantageIncome Advantage

Income Advantage from HomEquity Bank is a loan secured against the value in your home. It lets you convert part of your home equity into cash – without requiring you to sell or move. Income Advantage gives you choice and flexibility.

You maintain complete ownership and control of your home. You can access your money in monthly installments or initial and periodic advances. Income Advantage lets you access up to 40% of your home’s appraised value and you receive the money tax-free.

* Always consult your accountant or financial advisor.