One of the quickest ways to take control of your finances is to create a monthly budget.  Creating a snapshot of your income and spending can help you reach your financial goals sooner. Step 1: Calculate Your Income The first step to creating any budget is determining exactly how much money you have available […]

    June inflation data released today by Statistics Canada showed that the Consumer Price Index (CPI) rose 2.8% year-over-year (y/y), slightly below expectations. This was the lowest CPI reading since February 2022. The decline in inflation was mainly due to lower energy prices, which fell by 21.6% y/y. Without this decline, headline CPI inflation […]

The Bank of Canada increased the overnight policy rate by 25 basis points this morning to 5.0%, its highest level since March 2001. Never before has a policy action been so widely expected. Still, the Bank’s detailed outlook in the July Monetary Policy Report (MPR) suggests stronger growth and a longer trajectory to reach the 2% […]

As we age, maintaining independence and staying in the home we love can be a challenge, especially when faced with reduced mobility and the need for costly home modifications and personal care services. However, with the CHIP Reverse Mortgage by HomeEquity Bank, aging in place becomes more feasible and attainable. Here are three ways in […]

  A pre-qualification is the first step in uncovering what you can afford when embarking on the search for your next property.  It should outline a realistic budget, including the costs to complete the purchase, including legal fees and applicable taxes, as well as estimated ongoing mortgage payments. To arrive at an accurate budget and […]

    Property Taxes are typically due in July in BC, and the Home Owner Grant gives owners a break if eligible. The eligible property value limit increased to $1.975 million in 2022.  Homeowners in Metro Vancouver, the Fraser Valley, and the Captial Regional Districts owning property valued at less than that amount may be […]

With the increase in the Overnight Rate of .25%, the Prime Rate has also risen by this amount in Canada.  If you have a Variable Rate mortgage, please feel free to contact me for strategies to discuss the rate outlook, manage a lengthening amortization, or manage your payment.  Static payment variable mortgage holders may be […]

    I once had my eye on a new home to purchase, which had a style that really appealed to me.  The neighbourhood was beautiful and very close to the mountains, which perfectly suited my wish list.  The house looked very well built and I was certain it was the one!  Excited, I was […]

  Expert tips on planning your next backyard project. Turning dreams of lounging in your private backyard oasis into reality has, well, blossomed.  Renovations and master creations of outdoor spaces have taken off in the last few years.  With lumber prices slowly coming down, a new deck or pergola could be yours.  Here are some […]

Twenty-five or thirty years is a long time to repay a loan. To pay off your mortgage faster, here are some tactics to get you on the road to financial freedom that much sooner. 1) Make a Double Mortgage Payment: A double monthly payment once a year will save you interest and will reduce a 25 […]