Business– not as usual

18 March 2020
Larose Team

First and foremost, we at the Larose Real Estate Team would like to extend our best wishes for health and safety to you and your families in these uncertain and challenging times.

The rapidly evolving coronavirus ( COVID-19) situation is changing daily life as we know it for everyone. At the Larose Team, we recognize we are all in this together. We are working diligently to balance the health, safety, and unique circumstances of our valued clients with those of our team members and partners.

Our team continues to receive showing requests, offers on properties and appointment consultations and as a result, we have implemented strict guidelines and put protocols in place to prevent the potential spread of the virus.

Throughout this crisis, there are people who still need to buy and sell real estate . That being said, we remain active and available to serve our current clients and take care of any future business.

Our business has been built on a platform of dependability, high service standards and the confidence that we can take care of our clients, no matter the market or situation.

Thank you for your trust and stay healthy everyone.

Options Mississauga - Celebrating 25 years!

06 December 2018
Larose Team

Celebrating 25 years! 

Options Mississauga in Port Credit celebrated their 25th anniversary last night with friends, family, and community members.

Joined by the new Mississauga ward 1 councillor, Stephen Dasko, Options had a ceremonial ribbon cutting to also acknowledge the new renovations!

Consider Options Mississauga for all your printing needs, for more details visit

From our October Market Report

Options Mississauga is a federally registered charity operating a social enterprise in the form of a retail printing and office services store in Port Credit. They support intellectually disabled adults in an inclusive community setting as they acquire the job skills they need to obtain employment.

This unique arrangement allows trainees to become familiar with business etiquette, serving customers and working with staff on a variety of jobs they do. The ultimate goal is to provide the tools: hard skills, familiarity with business operation and, perhaps most importantly, the confidence they need to become vocationally involved, where few other options exist.

Options Mississauga has been in business for 25 years and has consistently provided quality printing products at competitive prices. They also provide the kind of individual customer service that is rare in today’s retail environment. But best of all, by using them for your printing needs you are not only get the printing products you want, but every dollar you spend directly supports their mission.

Options has currently undergone a transition now offering a new intensive employment training program and more importantly, employment to their trainees.

Recognizing Jim Tovey

20 July 2018
Larose Team

Mississauga’s Music Walk of Fame in Port Credit Memorial Park was established in 2012 by the late Councillor Jim Tovey. This inaugural ceremony recognizes the amazing musical talents that have come out of Mississauga. 

In the past, four inductees had their names forever engraved on granite plaques that are installed in the walking path of Port Credit Memorial Park. Port Credit has a reputation as the musical hub of Mississauga. Therefore, it was fitting to establish the Music Walk of Fame there as well. 

This year, to honour the late Councillor Jim Tovey, Jim will be the sole inductee for the Mississauga Music Walk of Fame. 

The ceremony will be held this Sunday, July 22 2018. In Port Credit Memorial Park from 3:00-4:00 PM.


From our February newsletter:

Kevin Larose

We were very sad to hear of the passing of Jim Tovey-our Ward councillor and friend.
'Jim always had time for people and their issues. I remember meeting him for the first time at our door and spending several hours discussing his vision for Mississauga's waterfront'. 

Jim was passionate about our community and his commitment to the future plans and growth for Ward 'Wone-derful' as he affectionately called it. We were lucky to have him - he will not be forgotten.

The Port Credit lighthouse is about to get colourful!

01 November 2017
Larose Team

If you're big fan of Port Credit's iconic lighthouse, you might be happy to hear that the long-standing structure is about to enjoy a very significant enhancement.

Recently, Mississauga City Council agreed to commit $6,000 to the upcoming launch of a project that involves lighting the popular lighthouse to mark holidays, events and other special occasions.

Going forward, the lighthouse will be lit up in various colours depending on the holiday or event.

Councillors Pat Saito and Carolyn Parrish also spoke out in favour of the initiative.

"I personally think it's a great idea, we promote through Mississauga Tourism the Lighthouse as one of our prime locations to visit in the City of Mississauga," said Saito. "It's on our website, it's in our visitor guide. Given the donations you received, I think $6,000 is a very small amount."

The Port Credit BIA will maintain the project going forward.

The lighting should begin on Dec. 2 at the Christmas at the Lighthouse celebration in Port Credit.


Source :

Tougher Rules for Mortgage Lending Coming in January 2018

25 October 2017
Larose Team

A year go the government implemented a rule change where borrowers with less than 20% down had to qualify at the posted rate rather than their actual rate (which can be up to 200 basis points higher) They called this the ’stress test’.

This meant a significant reduction in how much these borrowers could qualify for. They have now announced that as of January 1st, the stress test will be expanded to include all borrowers.

What we don’t know yet is how this will affect the offer process i.e. will an accepted offer before this date qualify under the old rules or does this mean that people have to close before this date. “What this means for Buyers and Sellers is if you have been considering a purchase or selling your home, at the very least, meet with your Mortgage advisor and find out what you qualify for now and how that would change once the new rules are in place” says Kevin Larose of the Larose Team. You might want to act sooner rather than later”. To put it into perspective, you will need almost 20% more income to qualify for the same size mortgage you can get today” says Kevin. 

The new stress test is the latest in a series of policy changes and rules aimed at ensuring Canadians can afford their homes even if interest rates rise and to curb risky lending practices.

The new stress test regulations will undoubtedly push prospective homebuyers away from the banks to lenders that are not federally regulated. Good alternative lenders will become more significant in the months to come as the banks hunker down with stricter rules. Analysts are saying at least one in six mortgagors with 20 per cent equity or more could be affected by the new guidelines.

We have a team of excellent mortgage lenders that would be happy to answer all your financing questions. To find out how this affects you, contact us. Email us at 

How the rate hike affects homeowners and buyers

17 July 2017
Larose Team

The Bank of Canada has increased its benchmark interest rate for the first time since 2010, a sign that the economy is improving enough to allow borrowing costs to rise from historic lows reached in the aftermath of the global financial crisis.

The overnight lending rate was raised to 0.75 per cent from 0.5 per cent, where it had been locked for two years as the country adjusted to the challenge that low oil prices posed for an already sluggish economy. Many economists expect the central bank to hike again this year.

When the Bank of Canada changes its benchmark rate, the move ripples through to other interest rates, including those of mortgages. With that in mind, here is a guide to how the rate hike will affect homeowners and prospective buyers.

Homeowners with fixed-rate mortgages

There is no immediate impact on payments for existing mortgages. Only when the mortgage comes up for renewal would higher rates affect payments.

The interest rate on fixed-rate mortgages is influenced by the interest rates on bonds issued by the federal government, not the Bank of Canada’s overnight rate.

But if the central bank is confident enough about the economy to start pushing the overnight rate higher, expect interest rates in the bond market to rise as well. This explains how an increase in the overnight rate can indirectly affect fixed-rate mortgages.

Homeowners with variable-rate mortgages

The interest cost on variable-rate mortgages is pegged to your lender’s prime rate, minus whatever discount you negotiated. The prime rate is in turn guided by the Bank of Canada’s benchmark overnight rate. Payments on most variable-rate mortgages will be adjusted higher in a matter of days or weeks to reflect an increase in the overnight and prime rates. (Canada’s Big Five banks raised their prime rates to 2.95 per cent, effective Thursday, following the central bank’s move.)

With some variable-rate mortgages, payments remain the same for the duration of the term. But there are adjustments going on in the background. As rates rise, more of your payment goes toward paying interest and less goes toward the principal. This will increase the amount of time it takes to pay off your mortgage unless you increase payments on renewal.

Borrowers tend to use the term “variable-rate mortgage” to describe all mortgages where rates can fluctuate during the term of the loan. However, lenders use the term “adjustable-rate mortgage” to describe mortgages where payments are reset according to changes in the lender’s prime rate. Variable-rate mortgages technically apply to those where the mix of principal and interest changes, but not the amount of the payment.

One final note: Toronto-Dominion Bank is an example of a lender that has a “mortgage prime rate,” a unique in-house rate used for pricing variable-rate mortgages. TD’s mortgage prime has been higher than its conventional prime rate. After the central bank’s hike, TD raised its mortgage prime rate by 0.25 of a percentage point to 3.1 per cent.

Prospective buyers

It could become tougher to qualify for home ownership.

Federal rules unveiled last fall require home buyers with a down payment of less than 20 per cent to “stress test” their ability to carry mortgage payments at whichever is greater: the negotiated rate in their mortgage contract or the Bank of Canada’s conventional five-year fixed posted rate.

The central bank’s rate is based on posted five-year fixed mortgage rates at Canada’s largest banks, and was most recently set at 4.64 per cent. That’s roughly two percentage points higher than many discount rates on the market.

When the Bank of Canada’s posted rate starts climbing, some home buyers will be “stress tested” at a higher rate. Joining the homeowner’s club will have a higher barrier of entry.

Even before the rate hike, the mortgage market was changing. In early July, Royal Bank of Canada raised rates by 0.2 of a percentage point for some of its fixed-rate mortgages as bond yields moved higher. Other major banks followed with their own rate increases.

The outlook

Financial markets at mid-year expected the Bank of Canada to increase the overnight rate by a total 0.5 of a percentage point in 2017, which suggests one more increase of 0.25 of a point before year’s end. This would hypothetically take the prime rate at major lenders to 3.2 per cent from 2.7 per cent before the latest rate hike. Increases in the cost of fixed-rate mortgages will depend on how high rates for federal government bonds climb.

How can the Larose Team help?

Let us connect you with our preferred lending partners to review any financial questions or concerns. Based on your real estate needs, we can discuss how this increase may affect you as a homeowner looking to buy or sell. Contact us today 905.278.7355


SOURCE: The Globe and Mail -

Bank of Canada Holds Interest Rate

26 May 2017
Larose Team

The Bank of Canada is sticking with its trendsetting interest rate of 0.5 per cent, saying uncertainties continue to overshadow the economy's stronger-than-expected start to the year.

In explaining its decision Wednesday to hold the rate, the central bank once again highlighted weak wage growth and the softening rate for underlying inflation as examples the economy still has room for improvement.

The bank's scheduled rate announcement comes after it raised its 2017 growth projection last month following a surprisingly healthy start to the year in areas such as employment, consumer spending and the housing markets. In Wednesday's statement, the bank added better business investment numbers to the list.

"Recent economic data have been encouraging,'' the bank said.

"Consumer spending and the housing sector continue to be robust on the back of an improving labour market, and these are becoming more broadly based across regions.''

The bank's statement, however, also predicted that the ``very strong growth'' over the first three months of the year will be followed by some moderation in the second quarter, even though at the same time it expects the U.S. economy to rebound.

Analysts had widely predicted governor Stephen Poloz to keep the rate locked at its very low level of 0.5 per cent, as significant unknowns underlined by the bank in the past continue to swirl around the U.S. agenda on trade and taxation.

"The uncertainties outlined in the April (monetary policy report) continue to cloud the global and Canadian outlooks,'' said the bank, without making any specific mentions this time about the potential policy path of Canada's largest trading partner.

With no monetary policy report released Wednesday, observers will scrutinize the commentary in the bank's one-page statement for clues about its thinking on the trajectory of the economy.

The bank's statement also said while recent government policy measures on real estate have contributed to more sustainable outlooks for household debt, the rules have yet to have a substantial cooling effect on hot housing markets.

On core inflation, the bank noted that recent readings for its three measures, which reduce the influence of some more volatile consumer items like gasoline, have stayed below its ideal target of two per cent. That signals the entire economy has yet to catch up to the recent momentum.


Port Credit Imperial Oil Lands - Master Plan Unveiled

12 April 2017
Larose Team

Plans for the development of the Imperial Oil Lands are now underway.

Port Credit’s West Village Partners (WVP), an urban development firm that has purchased the 73 acres of space known as the Imperial Oil Lands in Port Credit, has unveiled its draft master plan.

Speaking to a focus group that included Councillor, Jim Tovey, and several Planning Staff, the WVP’s plan for the Imperial Oil Lands, includes 2,758 townhouse and condominium units accommodating a residential population of approximately 5,000 people. It is expected that 1,000 retail and service jobs will be generated.

The WVP states that the residential population combined with the retail and campus building staff will produce a lot of additional traffic. Nearly all the parking onsite will be underground. There will be no parking structures above ground.

A total of six buildings will be 15 storeys or higher, with one building of 26 storeys. The WVP explained that height allows a smaller footprint to preserve open space. 11.5 acres of parkland will exist including the present Waterfront Trail. It also includes the buffer corridor of 20m. along the west boundary adjacent to homes on Pine Ave. South.

The 73 acres of space known as the Imperial Oil Lands stretch south from Lakeshore Road West to the lakefront, and east/west between Pine Ave. and Mississauga Rd.

The WVP expects to hold its first community meeting in mid-May and hopes to present its application to the Planning and Development Committee by June.

We are a relationship based business and have achieved 16 years of success thanks to a great team!

03 April 2017
Larose Team

We are hiring!

The Larose team is looking for dynamic agents to join the team and help us with our business. We are currently seeking agents who have a license and are fluent in
Mandarin and Cantonese.

The foundation of the Larose real estate team is based on a strong belief that our clients needs come first. For us the most satisfying feeling is the knowledge that we have been instrumental in helping our clients make the best real estate choice for their family. 

If you share the same mindset and match the above description, contact us today at 905.278.7355

Bank of Canada announces rate

18 January 2017
Larose Team

Bank of Canada holds interest rate, begins to bake some Trump risks into outlook.

The Bank of Canada is holding its benchmark interest rate at 0.5 per cent and providing a deeper assessment of the risks associated with the big economic unknowns of a Trump presidency.

The central bank is keeping its key interest rate in place with the Canadian economy showing signs of improvement _ but it also warns of the significant uncertainty tied to potential policy changes by the United States, its largest trading partner.

This is the bank's first release of its updated forecasts and broad economic assessment since Donald Trump won the U.S. presidential election in November. Trump is to be inaugurated as President on Friday.

For now, however, the bank is offering an optimistic outlook by largely sticking with the growth expectations that it released in October, by predicting the economy to expand by 2.1 per cent in 2017 and 2018.

It says its base-case outlook only factors in the impact of the expected U.S. fiscal boost, which would help Canada through increased demand, and the effects of Trump's vow to cut corporate taxes, which it notes would hurt Canadian competitiveness.

The bank did not account for the full range of Trump's promised policy changes _ including his protectionist pledge that it says would have material consequences for Canadian investment and exports.