When it comes to customizing your mortgage to fit your needs and goals, several aspects can be adjusted. Interest Rate Type The interest rate is a major component of your mortgage and can be fixed or variable. A fixed-rate mortgage is ideal for those who are more comfortable with a stable monthly payment. A variable-rate mortgage is […]

Mortgage insurance protects a lender’s investment in certain types of loans, which typically come with lower rates but an insurance premium is charged.   Without mortgage insurance, borrowers can sometimes qualify for a larger loan, they can lower their monthly payments relative to the borrowed amount, and they can save on the cost of the insurance […]

  Porting your mortgage enables you to move your existing mortgage to another property without having to lose your existing interest rate for the remainder of the existing term. Porting may also save you money on the break fee for not seeing the current mortgage through to the end of the term.  If you can’t […]

The British Columbia Financial Services Authority’s (BCFSA) report on improving consumer protection in the real estate market has brought about a new mandatory three-business-day Homebuyer Rescission Period.  It took effect on Tuesday, Jan. 3, 2023.  It’s aim is to provide buyers with time to consider their purchase and alleviate pressure to make quick decisions around […]

  The Bank of Canada left the overnight policy rate at 4.5%, as expected, stating their view that inflation will hit 3% by mid-year and reach the 2% target by next year. They admit, however, that demand continues to exceed supply, wage gains are too high, and labour markets are still very tight. The Bank […]

        Need an Appraisal? Tips for Success.   If you’re planning on selling property this spring, the following tips should help improve your outcome. 1) Hire an Experienced Realtor: Before preparing to sell during the spring market, be sure to hire an experienced realtor to guide you through getting your property ready […]

Appraisal services help to pinpoint the market value of real estate.  The appraiser checks the general condition of your home and determines a comparable market value based on the sale information of other homes in your area. Planning in advance of an appraiser’s visit can help you secure the best possible valuation of your property by […]

Buying a home is one of the largest investments you may ever make. In order to make your home hunting experience the best it can be, here are a few key items to keep in mind before you start your journey: Get Pre-Qualified: One of the most important aspects of buying a home is the […]

Safeguarding your property can be simple keeping a few ideas in mind.  The following is a list of security options for some of the key areas you’re likely to want to consider when planning to protect your home or investment property. Securing Windows Reinforce the windows on the first floor with window stops. Keep windows […]

As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year. The Bank is also continuing its policy of quantitative tightening. This is the first pause among major central banks. Economic growth ground to a halt in the fourth quarter of 2022, lower than […]