The Bank of Canada (BoC) announced that they have increased the overnight target rate which in turn affects the Prime Rate.  Currently the Prime rate with almost all banks is 3.70% and that will increase to 3.95%.  This affects Variable Rate Mortgage clients and anyone that has loans or lines of credits attached to the […]

This blog post is coming from a scenario we actually encountered this week.   We had some stressed clients, who purchased a new property and had no doubt that their current home would sell! The current home still has not yet sold but we were extremely happy to reassure them with a number of solutions for […]

**How will the Cannabis Act affect mortgage lending??** The legalization of Cannabis is set to take place on October 17th. We just received confirmation that CMHC will continue to insure mortgage loans for residential properties where cannabis was previously grown and/or will be legally grown. At this time we only have one lender who is […]

Are you almost at the end of your mortgage term? Are you not sure if the mortgage product or lender that you have is the right fit for you? Maybe you want to move from a variable rate into a fixed rate or vice versa. Or maybe you want to access extra equity in your […]

UPDATE:  The Bank of Canada leaves rates unchanged with the uncertainty around NAFTA and the US trade agreement. Read this article for all the information!  

Interest Rate Outlook In light of the deceleration in business investment, the Bank of Canada has little reason to hike interest rates at the Bank’s next policy meeting on September 5. Investors are betting that a rate hike in October is a near certainty according to Bloomberg Canada. Bank of Canada Governor Stephen Poloz played down […]

Here are 5 tips on how to get out of debt and into your own home:    Make a list Take all of your bills and put them into a chart.  On the chart make sure it shows the name of the bill, the interest rate, balance and what is your minimum monthly payment. Now […]

Mortgage penalties from anywhere between $1,000 – $20,000 or more – which side of the spectrum are you on? **ARE YOU AWARE** that if you want to break your mortgage and pay it out, switch lenders, take advantage of a lower rate, access equity in your home (refinance) or anything like this and your term […]

Did you know that most lenders have a “sliding scale” for purchases that are over 1.25 million dollars. What this means is you will have to put more than 20% down.  The sliding scale differs with each lender, but the majority of them will lend up to 80% of the first 1.25 million and then […]

Excited to share we are moving to a new location in Pitt Meadows! We will still have the option to meet clients at our Port Coquitlam location as well but as of October 1st we will be in our new space! Stay tuned for further details to come!