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13

Feb 2024

Inflation Insights: Forecasting Canadian Mortgage Rates Post-US January Figures

by Iain in Vancouver Mortgage Blog

It’s that time of the month again. The US has released their CPI (Consumer Price Index) Statistics for January 2024. The Inflation indicators came in hotter than expected, which means that the much anticipated Bank of Canada rate cuts may have to wait and we may even see fixed mortgage rates creep up in the near term. U.S. consumer prices surged unexpectedly in January, driven…

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07

Feb 2024

Unlocking Homeownership: A Guide to Canadian First-Time Homebuyer Incentives

by Iain in Vancouver Mortgage Blog

Welcome to Post for Canadian first-time homebuyers! I'm thrilled to guide you through this exciting journey towards homeownership. In this edition, we will explore some select buyer incentives that can significantly impact your buying experience. From understanding the nuances of the First-Time Home Buyer Incentive (FTHBI) to navigating the Newcomer Housing Programs, I'm here to demystify these opportunities for you. My goal, as always is…

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25

Dec 2023

Financing Your Future: A 2023 Mortgage Recap

by Iain in Vancouver Mortgage Blog

Year-End Mortgage Wrap-Up: Insights and Outlooks As we approach the end of 2023, I wanted to take a moment to reach out and reflect on the year that has passed. It has been a year filled with both challenges and opportunities in the Canadian housing market, and I am grateful for the trust and confidence you have placed in me as your mortgage broker. 2023…

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14

Nov 2023

Optimize Your Mortgage Renewal: The Strategic Advantage of Early Consultation

by Iain in Vancouver Mortgage Blog

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 just open doors to better rates and terms; they position…

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06

Dec 2019

Leaving the City, but Keeping the Job

by Iain in Vancouver Mortgage Blog

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 Lower Mainland property inflation has passed us by and is…

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20

Jul 2019

Mortgage Stress Test Becomes (Slightly) Less Stressful

by Iain in Vancouver Mortgage Blog

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 would be qualifying a conventional 5 year fixed at the…

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02

Nov 2018

Cutco Knife Giveaway – My Lifetime Mortgage Referral Program

by Iain in Vancouver Mortgage Blog

[big_title]Do you LOVE to cook?[/big_title] While I’m not a great cook, I enjoy it much more when cooking with the best equipment. That is why I am giving away Cutco Knives. These high quality - lifetime guarantee knives will surely be a welcome addition to your kitchen. I have owned many other brands of knives and they eventually break, bend or deteriorate and I still…

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25

Oct 2018

Prime Rate Increases to 3.95%

by Iain in Vancouver Mortgage Blog

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 this rate increase are inevitably passed on to consumers as…

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12

Oct 2018

Fixed Mortgage Rates Heading Higher Again

by Iain in Vancouver Mortgage Blog

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 like the Banks are at it again. Fixed Mortgage Rates…

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