• Good-BadAt Robert Floris’ office of Mortgage Architects in Hamilton, Ontario, we take pride in finding trends for our customers and many happy referred sources. This week we will break from tradition since this week mortgage relted news made up quite a few headlines. We will call it the good and the ugly.

    The Good: Hamilton real estate prices continued its monthly increase of single family homes with a gain of 2.1%. Hamilton has had an approximate 23% gain in home prices from last year.

    The Good: The spring season has previously gone up with listings and this year is no exception. The influence of more sellers has quelled the frenzy of multiple bidders for the buyers and has made the market more sane.

    The Ugly: The Home Capital mess. We as Canadians had a great view when our American friends went through a bank crisis. What we do not understand is that a major Canadian bank collapsing would have a terrible effect on the economy and the other banks. Most important is that it would affect EVERYONE.

    The Good: Even with the HOme Capital scare, mortgage rates remained stable.

%d bloggers like this: