Happy New Year Everyone! We are excited for what this year holds and for everything that we have seen happening in the mortgage industry the past few months. One new thing we are introducing is our “Fast Five” Series. This will include 5 key things you need to know about the mortgage industry for this month. 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 January:

The First Time Home Buyer Incentive Program

Make homeownership more affordable this season! Introducing Canada’s First-Time Home Buyer Incentive. A newly released infographic (PDF) provides examples of various financial scenarios showing how different households may benefit from the Incentive. You can also download our ebook to learn more!

CMHC Annual Consumer Survey Results Are In

Learn more about the attitudes and behaviours of Canadians when they are buying a home and are homeowners. Check out CMHC’s 2019 Mortgage Consumer Survey top 10 findings 

Debt Increased For Canadians In 2019

CMHC’s latest national edition of the Mortgage and Consumer Credit Trends report covers the second quarter of 2019. Here are a few facts:

• indebtedness is higher than one year ago, increasing the vulnerability of Canadians to financial difficulties
• the average outstanding balance of newly originated mortgages declined, reversing a trend of growth
• the new mortgages share of all loans moved higher into 2019. This mirrors the national trend in home sales, which fell in 2018, and has risen in 2019
• only HELOCs and mortgages showed considerable growth in monthly obligations on average

Financial Consumer Agency of Canada (FCAC) Launched A Budgeting Tool

A great tool to use if you are planning to purchase a home this year! The Budget Planner helps you create a customized budget in 3 simple steps. Gather information regarding your income and expenses and get started! If you don’t have all your information, you can always save and continue later. To get the planner, click HERE 

GLM Mortgage Group Goes After A CMA Award!

It’s that time of year again folks! We are looking to be nominated for a Canadian Mortgage Award (CMA). This year we are looking to win the Customer Service Award and would really appreciate you taking a moment to nominate us. You can do so by clicking here and following the steps.