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Bank Of Canada Holds Key Lending Rate

The Bank of Canada held its over night lending rate, despite pressure to reduce. This could mean reductions later this year depending on economic growth. If you are holding a variable rate Mortgage this means your rate has not changed.  The Bank of Canada's next rate announcement will be October 19th 2019....stay tuned.  

By |2019-09-05T03:14:56+00:00September 5th, 2019|Uncategorized|0 Comments

Importance of Mid Mortgage Review

It’s important to have a look at your mortgage when during the mortgage term as you may want to make some changes to it. If we look at a variable rate mortgage as an example, booked in 2016 these were done at a rate of prime minus .30% and less, some were done at prime [...]

By |2018-09-22T16:29:16+00:00September 22nd, 2018|Mortgage|Comments Off on Importance of Mid Mortgage Review

Is now the right time to buy a home?

Is now the right time to buy a home? For many Canadians, owning a home in the past couple years must have seemed like an impossible dream. However, thanks to the corrective measures taken by the government, real estate prices seem to have come down. The twin cities of Toronto and Vancouver have always been [...]

By |2017-08-24T16:37:23+00:00August 24th, 2017|Uncategorized|Comments Off on Is now the right time to buy a home?

BC Spring Real Estate Market for 2017

The Star has already dubbed it “a ... spring real estate season like none in memory.” Spring is usually the “hottest season” when it comes to home sales. Realtors are warning buyers to expect a lot of competition for homes. Many of these will receive multiple offers, and will go at above-asking prices. While it’s [...]

By |2017-05-15T15:00:37+00:00May 15th, 2017|Uncategorized|Comments Off on BC Spring Real Estate Market for 2017

New Mortgage Insurance Premiums in effect March 17

Earlier this year, Canada Mortgage and Housing Corporation (CMHC) announced its plan to increase homeowner mortgage loan insurance premiums that just came into effect last week. CMHC introduced new insurance premiums that took effect on March 17, 2017, to reflect OSFI’s new capital requirements. Office of the Superintendent of Financial Institutions is an independent agency [...]

By |2017-03-23T18:57:36+00:00March 23rd, 2017|Uncategorized|Comments Off on New Mortgage Insurance Premiums in effect March 17

Get your Home Equity to work for you

Understanding Home Equity Home Equity is the current market value of your home minus the remaining mortgage balance. You can borrow up to 80% of the equity value   Home Equity Line Of Credit (HELOC) Home Equity Line Of Credit, also known as HELOC has been a potential source of extra cash for a growing number of [...]

By |2017-01-13T22:28:26+00:00January 13th, 2017|Uncategorized|Comments Off on Get your Home Equity to work for you

How does the latest mortgage lending rule affect you?

How does the latest mortgage lending rule affect you? The federal government introduced a new mortgage rate stress test for all insured mortgages effective Monday October 17th creating a new challenge for potential homebuyers in Canada. Essentially the new regulation is aimed at protecting the financial wellbeing of Canadians to support the stability of the [...]

By |2017-01-04T00:39:57+00:00October 18th, 2016|Uncategorized|Comments Off on How does the latest mortgage lending rule affect you?

How Does A Mortgage Term Affect Your Mortgage?

Buying a new home is probably the most arduous process most Canadians will ever undertake. When choosing a mortgage, you need to consider many factors. If you get the wrong combination, you may have to suffer the consequences for many years or pay a penalty. We meet people seeking to change their mortgage terms all [...]

By |2017-01-04T00:39:58+00:00June 8th, 2016|Uncategorized|Comments Off on How Does A Mortgage Term Affect Your Mortgage?

Does a Low Mortgage Rate = Best Mortgage Solution?

Have you ever thought if a Low Mortgage Rate = Best Mortgage Solution? Carolyn Maycock & Margaret Mots at Island Mortgage believe that a low mortgage rate is just the beginning. Mortgage Rates are generally the first thing that people consider during a home purchase mortgage. You may want to consider more than just low mortgage [...]

By |2017-01-04T00:39:58+00:00May 9th, 2016|Uncategorized|Comments Off on Does a Low Mortgage Rate = Best Mortgage Solution?