Clover Mortgage Inc.

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Although a technical recession is still predicted for Canada's economy this year, Oxford Economics now predicts the downturn will be less severe than first anticipated. The company stated in a recent research report that it anticipates GDP growth will slow in the second and third quarters before picking up speed in the fourth. Find out more information. https://lnkd.in/eSseHd7U

If you’re in the market for a new home, you may have encountered a number of different financing options and instruments. One such instrument is called a bridge loan, and it is most often used to smooth over timing errors between the sale of a property and the purchase of another. In Canada, understanding when and why to utilize a bridge loan can significantly streamline your property transition. In this guide, we will take a detailed look at the concept of bridge loans, their strategic importance, and a few typical scenarios where they’re of use. Keep reading for more below. Got questions? Contact us at Clover Mortgage today! https://lnkd.in/g5Rh7Mkq

Browsing around for a loan is similar to shopping for a property. Given how long you'll be committed to your mortgage, you'll want to plan ahead of time, and ensure you have all the best information before choosing between a bank or private lender. When you are looking for a mortgage lender, here are a few of the most important questions you can ask to set yourself up for success. Keep reading for more information. We can work with you one-on-one to help connect you to the best lender, terms, and interest rate for your unique mortgage needs. Contact Clover Mortgage to schedule your free consultation today! https://lnkd.in/g_GKqsYu

According to Statistics Canada's most recent data, Canada's economy added 90,000 jobs in April. However, given April's high rates of inflation, the Bank of Canada might decide against cutting interest rates in June. The majority of economists agree that the BOC will most likely lower interest rates in June or July. However, much depends on the April inflation figures. The Bank of Canada may wait even longer if it stays high. Keep reading more below. https://lnkd.in/e5RmqkJe

According to a recent report, the average asking rent for a home in Canada increased by 9.3% in April compared to the same month last year. This was the first time since January that a small month-over-month gain had been observed. The yearly growth rate increased from the 8.8% gain that was noted in the previous month. The asking rent increased by 0.3% from month to month. Read more below. https://lnkd.in/g2k6Gghu

Notwithstanding challenging economic conditions and internal financial difficulties, the Canada Mortgage and Housing Corporation (CMHC) exceeded its 2023 housing targets. In 2023, the Crown Corporation supported the delivery of 494,319 new, repaired, or assisted living units through its initiatives, significantly exceeding its objective of 350,000 units, as stated in its annual report. This includes more than the 120,000 units of affordable housing that were targeted—153,708 units. Find out more information. Got questions? Contact us at Clover Mortgage today! https://lnkd.in/eP_WfjNM

There are many ways to approach a real estate transaction. One strategy you may or may not have heard of is an assignment sale. While assignment sales have increased in popularity in recent years, particularly in the realm of pre-construction properties, many buyers and sellers may still be unfamiliar with the term. In this guide, we hope to arm you with the knowledge to not only understand what an assignment sale entails, but also to skillfully navigate the world of assignment sales in Ontario—regardless of whether you’re a buyer or a seller. Keep reading for more below. https://lnkd.in/duyXcdxe

Greater Toronto house sales in April were 5% lower than the same month the previous year, according to the Toronto Regional Real Estate Board, but there were a lot more new listings, giving buyers more options and maintaining constant prices. The board notes that there was a brief uptick in market activity in April 2023 that resulted in an increase in sales, with 7,114 residences changing hands in the month as opposed to 7,487 last year. At $1,156,167, the average selling price increased by 0.3% year over year. Keep reading for more information. https://lnkd.in/eQxrM2Rc

The number of properties sold in April increased 3.3% over the prior year, according to the Greater Vancouver Real Estate Board, although overall sales were still far below the 10-year average for the same month. According to Greater Vancouver Realtors, there were 2,831 house sales in the area in April 2023 as opposed to 2,741 sales in the same month the previous year. Keep reading more below. https://lnkd.in/g3MpKcdi