May 25, 2007
Posted June 6, 2007 12:00 pm.
This article is more than 5 years old.
MonsterMortgage.ca
Mortgage expert Vince Gaetano from MonsterMortgage.ca explains why Canadian consumer buying/selling habits are considered a role model in the real estate market. “The fact that we have national lenders I think is a big plus in Canada. I have to take some credit on the insurance side and say that we insure about half of the Canadian market. This gives lenders and the government a lot of comfort and credit scores. I think Canada’s very sophisticated with credit scores and much of the new products are very much modeled after credit score and availability.”
http://www.monstermortgage.ca/index2.php
Dan Ellenberg
When asked if Torontonians are an educated bunch of buyers and sellers Dan replied, “Definitely. And I think it really helps in terms of the transparency of the system. Everyone knows we’re in a very hot market in Toronto. But people are really educated in terms of interest rates. I have people stopping me and asking me questions about the strong dollar and what it’s doing in terms of keeping this market very strong and healthy. I think more and more peopel realize it’s all interrelated, that it’s not just the housing market that’s strong by itself. It’s really the complete Toronto, Ontario and Canadian economy which is propelling this market to greater and greater heights.”
Tridel
Scott McLellan of Tridel said home buyers shouldn’t just look at their finances when trying to get approved for a mortgage, they also need to take into consideration their lifestyle as a whole. “A number of times in our offices we talk about the drivers of condominiums, affordability is certainly one of them as compared to single family homes in a number of our different submarkets. A lot of times when buyers are sitting across from a sales representative and we say let’s go back to talking about finances they understand where they’re going to be, yet they want to have equity in a home. Sometimes that ends up being what our sales representative would use to help them through that decision-making and at least understanding and coming to some kind of a final ground conclusion where they can move forward.”
