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Pineapple Market Update

Become a more informed mortgage broker alongside our CEO, Shubha Dasgupta. Get timely information on the housing market, mortgage industry and the Canadian economy so you can serve your clients better!

 

 

The Market Update will return next week. In the meantime, catch up on the latest updates covering all of the most recent market stats and trends.

Summary

In this training session our CEO Shubha Dasgupta takes us through the weekly market update. He kicks off the meeting with rate updates for Prime Lenders and Alt Lenders. He highlights the rate percentage for insure, insurable, uninsured and rental. He shares information on the Bank of Canada (BOC) Rate Announcement and how this has affected the prime rate which is now at 5.45%, this means that those with more expensive homes should expect to pay more. A comparison of fixed vs variable will be a conversation that agents will need to have with their clients. A combination of COVID stimulus and tight labour markets has delivered generational highs in inflation with aggressive Bank of Canada action. When we look back at previous years, consumers are in better shape today than previously – rising rates and prices will impact some but not the overall population. He stresses that agents need to be the expert and do right by their clients and once this is done business will flourish. 

Please refer to the related tab of this article to access the slide deck.

Resource Links

Inflation eased in July – what does it mean for next rate hike

How renting could financially damage a generation of young adults

Canada’s real estate bubble is so big households need 64% of their income for a mortgage

Social Media Content

Please click here to access the Market Update recap video story that you can use to post on your social platforms.

Announcement

One of our priorities here at Pineapple is to ensure that you are all remaining compliant in your mortgage business. While we understand you may all have a different style of marketing/advertising your mortgage business, we are sending this email as a reminder that you are ensuring that you are keeping aligned with the mortgage industry public relations and advertising requirements as per the link.

Please take a moment to read the attached link to ensure that you are adhering to the Mortgages Brokerages, Lenders and Administrators Act 2006 (MBLAA) and its regulations.

Please reach out to Diana at diana@gopineapple.com if you have any questions.

Cheers,

Diana