Slide 1

Free Professional Advice

Why choose Micah? Because I provide valuable professional advice and it’s FREE!

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

Slide 2

Best Rates

Let me shop the major banks and top lenders for you.

Let me negotiate the best rate. Remember I work for you, not the banks.

Slide 3

Get Approved

My approval rating is high.

With my portfolio of lenders, I can find you a program that works for you.

Slide 3


Lower rates equals thousands in savings.

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

Slide 3


When the banks are closed, I am not.

I work for you and I am at your service 7 days a week.

Blog by Micah Verceles

<< back to article list

Residential Market Commentary - As goes housing, so goes the economy

The pundits have been saying for quite some time that the slowdown in Canada’s housing market is going to have a negative effect on the country’s Gross Domestic Product. That prediction appears to have come true.

For the past several years housing has been one of the few things that has helped keep the economy afloat. But it is now clear that rising interest rates and restrictive government policies are supressing the housing market. The Bank of Canada estimates the slowdown in residential housing investment will represent a -0.1% hit to the overall economy.

It is not a big blow, but it crosses the line into negative territory. Previous projections had residential housing investment continuing to make a positive contribution of +0.1%.

Many market insiders see this as proof that the federal B-20 guidelines are too heavy-handed and are having an unnecessarily harsh effect on home ownership. They believe the market decline will take an even bigger bite out of GDP and that there is the real threat of a recession.

Now that it has been about 18 months since the BoC started raising its key interest rate, the effects of the increases are being felt in the greater economy. Some forecasters predict other sectors are going to experience significant slowdowns as debt-laden consumers adjust to the higher cost of paying back their loans.