Home Tips Trish Pigott 31 Aug
PURCHASE PLUS IMPROVEMENTS Buy the home. Make it yours. Finance the improvements. Found the right home… but it needs a little work? A Purchase Plus Improvements Mortgage may allow you to include the cost of eligible renovations in your mortgage when purchasing your new home. Instead of passing on a property because the kitchen is […]
Read MoreMortgage Tips Trish Pigott 26 Jun
Her is a little insight to minimum down payment requirements and the two types of mortgages that are available for home buyers. High ratio mortgages are when you have less than 20% of the purchase price for down payment available. Your mortgage is required to be insured by one of Canada’s three Mortgage insurers. CMHC, […]
Read MoreLatest News Trish Pigott 10 Jun
Today the Bank of Canada announced no changes to the overnight target rate. This is directly affecting the prime rate which all banks use to determine variable rate mortgages. Given the instability of our economy due to the events with the US and Iran war, the Bank of Canada is remaining cautious resulting in no […]
Read MoreGeneral Trish Pigott 25 May
Leasehold Properties in BC – Pros & Cons Explained A leasehold property means you own the home or unit, but you do not own the land underneath it. Instead, you lease the land from the landowner for a set period of time (example: 30, 50, 75, or 99 years). Leasehold properties are commonly found on: […]
Read MoreMortgage Tips Trish Pigott 7 May
For Existing Homeowners and Future Homeowners What Is a Credit Score? Your credit score is like a “financial report card.” It helps banks and lenders decide: * If they will lend you money * What interest rate you qualify for * How much you can borrow In Canada, credit scores usually range from: **300–559** = […]
Read MoreLatest News Trish Pigott 29 Apr
Bank of Canada Holds Policy Rate Steady ~ From the desk of Dr. Sherry Cooper, Economist Dominion Lending Centres Today, the Bank of Canada once again held the policy rate steady at 2.25%. This is the bottom of the Bank’s estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. With […]
Read MoreMortgage Tips Trish Pigott 4 Feb
Mortgage rates are not created equal and either are buyers and homeowners. There’s a lot that goes into the difference between mortgage rates and what you are eligible for. Banks and rate sites offer the rock bottom rates like loss leaders to just get you to contact them. Once they determine your situation they will […]
Read MoreLatest News Trish Pigott 28 Jan
This morning the Bank of Canada announced no change to the overnight target rate which means no change for our Variable Rate Mortgage holders. I have outlined Dr. Sherry Coopers update below for more detailed insight on our current economic situation. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Bank of Canada Holds Policy Rate Steady Today, the Bank of Canada once […]
Read MoreLatest News Trish Pigott 10 Dec
This morning the Bank of Canada made its final announcement of the year and as expected, the Overnight Target Rate which affects the Prime Rate will remain unchanged. What this means to you as a Home Buyer or Home Owner…if you have a Variable Rate for your mortgage or line of credit, your payment and […]
Read MoreLatest News Trish Pigott 29 Oct
Bank of Canada Lowers Policy Rate to 2.25% Today, the Bank of Canada lowered the overnight policy rate by 25 bps to 2.25% as was widely expected. This is the bottom of the Bank’s estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. The economy will grow at about a […]
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