The Best Neighbourhoods to Live: 5 Questions to Ask

It’s hard to find a place you’d be happy to call home. There are so many elements to consider beyond the number of rooms, size of the closets and quality of the fixtures – like whether or not the neighbourhood is the right fit for you and your family. Before calling up a Mortgage Broker […]

How Does a Mortgage Broker Help Me?

Buying and owning a home is a legally and financially complex undertaking. It’s never as simple as picking up an item and buying it from an online shop or a display stand. In fact, for most people, it’s the biggest financial transaction that many will have in their lifetime—and part of that transaction involves finding […]

Your Mortgage Application: 4 Tips for Getting Approved

You’ve finally found your dream home, and you can’t wait to live in it. But, before you can make your dream into a reality, you’ll need the money to buy it. Time to work on your mortgage application. Applying for a mortgage isn’t the easiest process to go through; after all, this is one of […]

Mortgage Deferral Information

General Information relating to Deferred Mortgage Payment Programs Deferred mortgage payments are discretionary. Lenders maintain the legal right to timely repayment of their mortgages and mortgage payment deferral programs are offered at their sole discretion and each lender has different policies on how they handle these requests. Note: These programs are generally restricted to ‘Institutional” […]

First-Time Home Buyer Incentive now available

The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage payments without adding to their financial burdens. The First-Time Home Buyer Incentive is a shared-equity mortgage with the Government of Canada. It offers: 5% or 10% for a first-time buyer’s purchase of a newly constructed home 5% for a first-time buyer’s purchase […]

Bank of Canada Holds Interest Rate

The Bank of Canada is keeping its key interest rate unchanged and appears to be in no hurry to move the interest rate any time soon because the announcement today removed all mentions of a need for future increases. The bank says the economy was operating close to full tilt for most of the past […]

Michael Campbell on Interest Rates

The following is an excerpt from the VERICO Economic Report written by Michael Campbell The drastic change in the Bank of Canada’s stance regarding future increases in interest rates since October is a clear indication that the Bank and the Finance Department are surprised by the impact of rising rates on the real estate market […]

Fixed Mortgage Terms to Lower

Last week the Royal Bank of Canada (RBC) announced that they were lowering the interest rate of their five-year fixed-term mortgage. The rate drop went from 3.89% to 3.74% which represents a .15% cut. This is a result of the Canadian bond yield falling over 50 basis points over the past two months. This move […]

B.C. Provides Deadline For Exemption From Speculation Tax

Homeowners who live in their properties are exempt from paying the tax, but must complete an exemption form by 31 March. The Ministry of Finance expects that more than 99% of British Columbians will be exempt. Notices will be sent to homeowners in the Lower Mainland, Greater Victoria, Kelowna, and Nanaimo in the coming weeks. The […]

Bank of Canada Holds Steady

The latest statement from the Bank gives every indication it intends to continue raising rates, but it is in no hurry to do so. The key concern appears to be oil.  The low price of crude is seen as a weight on the entire Canadian economy, along with the slowdown in Canada’s property market due to […]