2017 has come to an end and we've welcomed the new year and the opportunities it may bring. It’s been a year of many mortgage rule changes, new regulations, mortgage stress test, foreign buyer tax and more.
The one thing that hasn’t changed is Canadians’ desire to own a family home or investment properties and this is sure to continue. Owning real estate especially for the long term simply makes financial sense. The low interest rate environment and the continued growth in the Canadian economy are great catalysts for continued demand for homes. According to the latest RBC Economic Outlook, the Canadian economy is ready to keep rolling in 2018 while on track to post the strongest performance in all the G-7 countries.
There are many ways to use a mortgage other than for buying your first home or investment property. You can use the equity in your home to access funds for things such as paying down debt, helping your children or other family members with the purchase of their first home or to help with tuition. You can even use the funds to buy additional properties and other investments that build your financial security.
I’m sure 2018 will be another interesting year in the Canadian mortgage and real estate world, hopefully not as eventful as this year was. I’ll be here to help you, your family and friends find the right mortgage solution and help make your homeownership and other financial dreams come true. I look forward to working with you, your friends and family.
Wishing you all the best in 2018.