Iain 
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
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
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
If you’re currently in the market for a home, June 1, 2015 is a day you’ll want to circle on your calendar. On this dubious date, CMHC is set to increase mortgage insurance premiums; not surprisingly, first-time homebuyers are expected to be hit the hardest. How much more will you pay in mortgage insurance? Let’s … Read more
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
Owning a home just became a bit less affordable – home insurance rates are expected to rise sharply this year across Canada. After the year that was 2013, this shouldn’t come as any surprise. Insurance companies paid out a record $3.2 billion in claims to policy holders last year, according to the Insurance Bureau of … Read more
Winter is traditionally a slow time in the housing market. A lot of buyers and sellers decide to wait until the spring housing market when the weather is nicer and there’s typically a better selection of homes on the market. With most of Canada in a deepfreeze, Canada’s biggest banks are trying to inject … Read more
Whether you’re a baby boomer looking to downsize or a first-time homebuyer, condos are a popular option, especially in pricey markets like Vancouver. What’s not to love about a condo? Not only are condos usually more affordable than houses, they don’t come with all the headaches and hard work of owning a house. Are … Read more
With residents in Vancouver spending so much on housing, how’s a family supposed to make ends met? It should come as no surprise that many families are struggling to find affordable housing in Vancouver. Although it’s tough, that doesn’t mean you should throw your hands up in the air and give up – let’s take … Read more
2013 was a year full of extreme weather. In June, we saw the floods in Alberta that no one could have prepared for. The floods devastated Calgary and surrounding areas, leaving thousands homeless and billions of dollars in damage. Severe weather wasn’t limited to the Prairies – Canada’s largest city, Toronto, received a torrential downpour … Read more
