About Alex Kotai

Alex Kotai has worked in the mortgage lending business for many years. His career started at HSBC Bank Canada where he spent most of his time in senior management roles which involved training and managing the sales staff at his branch. After leaving HSBC, Alex decided to open his own mortgage brokerage firm, Your Mortgage Source. Through his company, Alex has access to many lenders across the country with a very expansive list of products.
18 05, 2024

Inflation & the Housing Market

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Canada’s employment numbers are growing however almost all of it is in the government and not the private sector. This is bad news for the economy in general because there will come a moment where the government has to curb its’ excessing spending habits. At that point, they will also be forced to cut government

19 04, 2024

3 Major Mortgage Changes Coming

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30 Year Insured Mortgages Coming Back Effective August 1, 2024, 30-year Insured mortgages will be available to first-time buyers purchasing new construction only. There's no word yet on what the insurance premiums will be. Also, we don’t know what constitutes "new construction." Our guess right now is that it's any unsold/never-occupied, pre-construction or existing,

21 03, 2024

Interest Rate Uncertainty Still Looms

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As spring is around the corner, anticipation of mortgage rates creeping downwards is as welcome as the cherry blossoms Vancouver is famous for. What is the probability that this will in fact come to fruition? The Bank of Canada meets again for the 3rd time this year on April 10. As they have suggested throughout

21 02, 2024

To Buy in the Winter or Not?

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There is an inverse relationship between mortgage rates and housing prices.  When the Bank of Canada lowers rates, more buyers venture into the market, increasing demand and consequently raising prices.  Typically, the housing market slows down during the winter months, picking up roughly around March/spring break time. This year has been a bit different. Typically

17 01, 2024

Housing Outlook for 2024

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Canada has welcomed well over 2 million immigrants in the past two years (2022, 2023) and proposes to increase the number of permanent residents in Canada from 465,000 in 2023 to 485,000 in 2024 and 500,000 in 2025 ( Housing remains a challenge as only 399,000 new household units were added to the market in

20 12, 2023

Mortgage Trends

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Mortgages rates and sizes have been trending downwards in the last quarter of 2023. Interest in mortgage renewals continued growing but peaked when the BOC (Bank of Canada) announcement stabilized their interest rate increases. Indeed, according to the data collected of all mortgages issued in the third quarter, as of September 4th,2023, mortgage renewals peaked

20 11, 2023

Early Housing Hibernation

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Winter is approaching and with it the chill of weather and a typical slowing of market sales and movement. This year, however, looks a little different.  Typically, sales slow in October and November and pick up again in springtime.  In Vancouver and Toronto, most notably, sales plummeting with Toronto seeing 17% fewer sales this past

18 10, 2023

Inflation Drops Again

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Statistics Canada reported on Tuesday, October 17, 2023, that the rate of increase of inflation has lowered from 4.1% to 3.8%.  According to their report, “deceleration in the cost of living was “broad-based” and stemmed from lower prices for a variety of goods and services, including travel, durable goods and some grocery items.”  According

20 09, 2023

New federal GST policy on rental construction

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On Thursday Sept 14, 2023, Justin Trudeau and the Federal Government announced a new tax policy repealing the Federal GST tax on new construction builds in a bid to encourage the construction of new rental buildings.  Some welcome this move, claiming it will be a game changer. Critics remain sceptic, pointing out that it

20 08, 2023

Home Prices Well on Their Way to Bouncing Back

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2022 was a tough year for many Canadians faced with either purchasing a home while interest rates were rising or with renewing their current mortgage while rates nosed an upward trajectory. Prices of homes across the country during this time saw a significant dip – in some cities as much as -20%.  While the