Summary The Bank of Canada raised its benchmark rate by a further 50 basis points on Wednesday, bringing it to 4.25% in a move that signalled the first time it has hit the 4% mark since 2008. However, The Bank of Canada’s “very encouraging” language in its latest policy rate announcement indicates that it could […]

Ottawa, ON, November 15, 2022 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged a little higher in October 2022. Highlights National home sales were up 1.3% on a month-over-month basis in October. Actual (not seasonally adjusted) monthly activity came in 36% below October 2021. The number of newly […]

Introduction The housing market is a dynamic entity, influenced by a myriad of factors ranging from economic conditions to policy changes. The Real Estate Board of Greater Vancouver (REBGV) provides regular updates on residential home sales, offering insights into the market’s health and trajectory. In this article, we will dissect the figures for October 2022, […]

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 […]