Ariana Leroux - Your Mortgage Insider

 March 2025   Economic Insights from Dr. Sherry Cooper   The outlook for the Canadian economy in the coming months presents a picture of cautious optimism with high uncertainty. Economic indicators were expected to strengthen this year, driven by resilient consumer spending and a robust export sector. Housing activity was poised to accelerate this year as well.    However, when the newly inaugurated US president began to threaten Canada with 25% tariffs at the end of January, home sales slowed markedly. However, challenges such as global market volatility and inflationary pressures could temper this growth .    The Bank of Canada will maintain its current monetary policy stance, carefully balancing interest rates to manage inflation while supporting economic activity. The housing market remains a key area of focus, with efforts to address affordabi...

    Fraud Awareness Month: Scams to Avoid     Did you know? March is Fraud Awareness Month, making it the perfect time to learn how to protect yourself and your mortgage from fraud.   Understanding common mortgage scams and how to recognize warning signs can make all the difference in safeguarding your financial well-being. Common Mortgage Fraud Scams One of the most frequent types of mortgage fraud involves a fraudster acquiring a property and artificially inflating its value through a series of sales and resales. They then secure a mortgage based on the inflated price, leaving lenders and buyers at risk.   Red Flags to Watch For Be cautious if you encounter any of the following: Someone offers you money to use your name and credit to obtain a mortgage You’re encouraged to provide false information on a mortgage application You’re...

As the Spring season approaches, I have some updates for how to prepare your finances for the coming homebuying season. Plus, check out my fraud awareness tips as March is Fraud Awareness Month!   Spring Forward: Preparing Your Finances for the Home-Buying Season   Spring is one of the busiest seasons in the real estate market, with buyers eager to find their dream home before summer.    If you're planning to purchase a home in Spring 2025, now is the time to get your finances in order.  Being financially prepared can help you secure a mortgage with favorable terms and make your home-buying journey smoother. Here’s how to get ready:   1. Check and Strengthen Your Credit Score Your credit score is one of the most important factors in mortgage approval, influencing both your eligibility and the interest rate you’ll receive. A higher score can save...

                                      Navigating Divorce, Separation, or a Split: What’s Next?   Divorce or separation or a split when Real Estate is involved can be a challenging and emotional experience. It’s common to feel overwhelmed by the many questions and uncertainties that arise, such as: How does one partner keep the home? Can I afford to keep it? How is the other partner paid out? What happens to joint debt, and can it be paid off? Can alimony or child support count as income for mortgage purposes? How does receiving or paying alimony and child support affect my ability to secure a mortgage? What if I don’t have a job? These are just a few of the many questions that can arise during this time. It’s essential to have professionals on your side, and a licensed mortgage broker can provide the guidance ...

Could Trumps Tariffs Impact Mortgage Rates in 2025 Political and economic forces threaten to forge an unexpected interest rate path in Canada. Trump starts imposing tariffs on some Canadian imports, despite the 'pause' promised. Will the threat of trade disruption send shock waves through markets, shifting the ground beneath variable and fixed mortgage choices this year? Trump's recent tariff threats could have major impacts on trade between the U.S. and Canada. The proposed tariffs could start as soon as March 4, including a 25% tax on most imported Canadian goods and a 10% tariff on energy products like oil, electricity, and natural gas. In response, Prime Minister Trudeau has confirmed that Canada will impose similar tariffs on U.S. goods. Additionally, there are plans for another round of tariffs, possibly on March 12, that would include a 25% tariff on all Canadian steel and aluminum imports, adding up to a total tariff of 50% when combined with the earlier tarif...