SURREY, BC – Fraser Valley housing market sales for October remained relatively unchanged from last month asprices dipped slightly across all categories. In October, the Fraser Valley Real Estate Board (FVREB) processed 901 sales on its Multiple Listing Service® (MLS®),an increase of 0.4 per cent compared to last month and a 53.5 per cent decrease […]

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 […]

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 […]

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 […]

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” […]

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 […]

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 […]

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 […]

Introduction Interest rates play a pivotal role in the housing market and the broader economy. The recent decision by the Royal Bank of Canada (RBC) to lower its interest rate for the five-year fixed-term mortgage has made waves in the financial sector. This article seeks to provide a comprehensive analysis of this decision, the context […]

Introduction The housing market in British Columbia has, for years, been a topic of discussion among policymakers, economists, and residents. In response to the rising housing prices and the challenge of housing affordability, the provincial government introduced a new tax mechanism aimed at addressing the issue of vacant properties. This article elaborates on this tax, […]