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So far islandmortgage has created 32 blog entries.

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

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

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?

Your Mortgage Broker’s Role for Home Purchase

Are you still considering why you should use a mortgage broker? Mortgage rates in Canada have been on record lows making it the perfect time to get a good deal on your mortgage. Many Canadians trust their local bank  to offer sound advice on mortgage matters. Although banks have different mortgage products, they may not suit everyone, and [...]

By |2016-04-05T16:59:48+00:00April 5th, 2016|Uncategorized|Comments Off on Your Mortgage Broker’s Role for Home Purchase

How to Maximize your Mortgage By Refinancing

Mortgage rates are dipping and homeowners in British Columbia are seriously thinking about the relationship between a new mortgage and savings.  For those who are working with adjustable rate mortgages, the allure for the certainty offered by the fixed rate option has never been stronger. If your fixed rate dates back to 2010 or earlier, [...]

By |2017-01-04T00:39:58+00:00February 10th, 2016|Uncategorized|Comments Off on How to Maximize your Mortgage By Refinancing

Starting to Feel the Weight of Financial Debt; You’re Not Alone

If you are starting to feel the weight of financial debt, take heart, you are not alone. In Canada, Consumer debt is on the rise and about 80 to 87 percent of that is mortgage debt. Homeowners that are most affected are in Ontario, British Columbia and Alberta where house prices have escalated. Are feeling [...]

By |2016-01-19T19:46:05+00:00January 19th, 2016|Uncategorized|Comments Off on Starting to Feel the Weight of Financial Debt; You’re Not Alone