Optimize Your Mortgage Renewal: The Strategic Advantage of Early Consultation

Elevate Your Financial Appeal: Your Key to Better Mortgage Terms In the quest for the best mortgage renewal terms and rates, an often-overlooked strategy is ensuring your financial profile is attractive to competing lenders well ahead of the renewal date. This is where early discussions with your me, you broker become invaluable. These discussions don’t … Read more

Leaving the City, but Keeping the Job

Hi Everyone, I have recently been coming across a large number of clients in this situation so I thought I’d dedicate a blog entry to it. Wanting to buy a house and willing to move, but tied to their current job. Like many of my generation (and others), the large gains to be made from … Read more

Mortgage Stress Test Becomes (Slightly) Less Stressful

You might have seen the recent Benchmark Rate Decrease announcement in the news. What does this mean for Buyers and Refinancers? Will this revive the slumping Vancouver Housing Market? Let’s Revisit the Stress Test In 2018 the Stress Test took affect and change how ALL Canadian Mortgages are now qualified. Before the Stress Test you … Read more

Prime Rate Increases to 3.95%

The Bank of Canada decided to increase the overnight lending rate to 1.75% on October 24th 2018. This is the interest rate that the Bank of Canada charges the Chartered Banks to borrow money, which they need to do frequently in order to balance their books at the end of each day. The costs of … Read more

Fixed Mortgage Rates Heading Higher Again

Hi everyone, I usually wouldn’t Blog about rates increases, but there’s an acceleration of the frequency of increases this Fall. Two weeks ago, there were across the board increase across several major lenders and I managed to get several existing clients into rate holds to hold the rate for about 4 months. Well, it looks … Read more

Is Your Variable Rate Optimized?

There are many great arguments for and against entering into a Variable Rate versus a Fixed Rate, but I won’t be chiming in on that debate today. Today’s post is for those who are in Variable Rates and are happy to remain. One of the greatest benefits of a Variable Rate Mortgage is the Low … Read more

BC First Time Home Buyer Grant Increased

Good news for first time home buyers in British Colombia. The BC provincial budget increased the maximum eligible purchase for the property transfer tax exemption from 425k to 475k. Property transfer tax (PTT) is a one time cost paid on any purchase of real estate in BC. It’s an often overlooked cost of purchasing real … Read more