Connection attempt failed
MortgageB

Market News

Why Real Estate Builds Wealth More Consistently Than Other Asset Classes

If you lived through the recent real estate and economic recessions, the very headline of this article might cause you some emotional pain. Less than ten years ago, the country was swept with an economic crisis the likes of which our generation had never seen. I personally remember driving down the street in California’s Central Valley and seeing “for sale” signs on practically one of every four houses. It felt

Read more

Is your mortgage insurable? It could save you thousands if it is

The new mortgage rules have created three categories of mortgages: insured, insurable and uninsurable. Currently five year fixed mortgage rates typically range from 3.69% for an insured mortgage to 3.99% for an uninsurable mortgage. Based on current interest rates and a typical mortgage amount $300,000 that would be a savings of more than $20,000 over the life of your mortgage. Before the new rules came in to place mortgages fell

Read more

Haunted House? How Stigmas May Affect Its Value

Superstitions, stigmas and the supernatural – whether you believe in them or not, they can have a very real impact on how long it takes to sell your home and the price you’ll get for it. While the thought of a haunted house and other-worldly roommates can put the scare into some homebuyers, others might consider these a blessing in disguise when it comes time to make an offer. What’s

Read more

Interest rates were just hiked — here’s what it means for the 2019 Canadian housing market

As was widely expected, the Bank of Canada (BoC) hiked the overnight rate to 1.75 percent. Higher interest rates inevitably lead to higher mortgage rates, which means industry players keep a close eye on the BoC’s hikes, and how they could affect Canada’s housing market. Rising rates could spook would-be buyers, placing downward pressure on the market. And, according to CIBC economist Avery Shenfeld, it looks like the Bank might

Read more

20 years old, 20 per cent down on a house. It’s possible!

Imagine being just 20 years old and putting down a full 20 per cent — $68,000 — on your first condo. Plus, you have cash left over for closing and moving costs, even some money for decorating. At 20 per cent down, you don’t even have to pay for mortgage loan insurance. Victoria-based mortgage broker Kam Brar’s client did it — the young man saved money ever since he started

Read more

How to Choose a Neighbourhood

Location is everything when you’re searching for a home. Finding your dream neighborhood may seem like the easiest part, but once you factor in budget, non-negotiable home features, and proximity to the things you can’t live without, it may be less obvious where you should live. When it comes to searching for a new neighborhood, here’s what you need to know. Property Taxes Property taxes can play a huge role

Read more

Housing affordability is more important to BC Millennials than fighting climate change, childcare: poll

There are many big issues looming over BC Millennials ahead of next year’s federal election, from climate change and trade relations to government spending and tax cuts. But the results of a new Canadian Real Estate Association-commissioned survey suggest many in the province feel that these issues should take a back seat to affordable housing. Some 80 per cent of BC respondents to a national Abacus Data poll rated housing

Read more

Mortgages Soar For Canadians In Their 80s, 90s

With new mortgage rules and higher interest rates putting the squeeze on Canadian homebuyers, some have found a new approach: Get the parents (or grandparents) to bankroll your purchase. The number of mortgages issued to people in the pre-war generation — aged 73 to 93 — jumped by a whopping 63 per cent in the first quarter of this year, according to a new report from credit agency TransUnion, and

Read more

Buyer beware: How purchasing property from a non-resident of Canada could leave you with a hefty tax bill

If you’re buying a house or condo and you suspect that the current owner from whom you are purchasing the property is a non-resident of Canada, you could be personally liable for the vendor’s Canadian capital gains tax if you don’t take certain precautions. Indeed, this is precisely what happened in a recent tax case decided this summer. But, to properly understand the case and thus ensure you don’t find

Read more

Making the most of your mortgage broker

The process of becoming a homeowner can be long and arduous, and your mortgage broker is one of your key allies in getting a mortgage in order to buy a home. But if done right, the relationship between you and your broker doesn’t stop once you have the keys. Depending on how your individual mortgage is structured, you’re going to be up for a renewal at least twice over the

Read more

Connection attempt failed

Terms Best Rates
%
Contact Us