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Your Source for Mortgage News and Information

Here you will Victoria, BC and Canadian mortgage trends, news and information. We are your Mortgage Broker Victoria, so please feel free to contact us for any more details on the ever-changing mortgage market. Whether you are a first time buyer, a business owner or a sophisticated investor we have a wide range of quality products available to ensure you get the ideal mortgage product for your unique goals and financial situation.

Bank of Canada to maintain current level rate policy

Bank of Canada will keep present level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program The Bank of Canada today maintained the target of its for the overnight price on the highly effective lower bound of ¼ %, with the Bank Rate at ½ %

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2020 Thoughts on Fixed vs Variable

Fixed or adjustable – it is the ongoing mortgage product decision many mortgage buyers are faced with. And it has only been made more complex since the beginning of the pandemic. Towards the second half of 2019, variable rates have been the most obvious and popular choice. But a great

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Affordability and Alternative Lending Options Part 1

Motions within the rental market are excellent signs of the state of housing affordability. When folks cannot find the money to purchase, they rent, and also when there is an influx of renters in a field with constrained housing supply, landlords are in a position to demand more. In Victoria

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Mortgage Stress Test Rate Drops to 4.79%

The Canadian national mortgage benchmark qualifying rate, or stress-test rate, has dropped for the second time in the past three months after 5-year fixed posted rate cuts by Canada’s major banks. The qualifying rate is now 4.79%, down from 4.94%. The current benchmark rate of 4.79% is just 0.15% above

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Canadian & U.S. Central Banks Respond to Covid-19

On Friday afternoon March 13, 2020, Canadian policymakers from the Department of Finance, the Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) announced a coordinated response to alleviate economic stress caused by the COVID-19 pandemic. The emergency measures, which are intended to ensure that the

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Canada Mortgage Qualifying Rate Lowered to 5.19%

Bloomberg Canada – July 19, 2019 The Bank of Canada has lowered the rate used by mortgage stress tests, used to qualify homeowners for mortgage borrowing limits, for the first time in three years. The central bank’s five-year benchmark qualifying rate is now 5.19 per cent, down from 5.34 per

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What are the Best Mortgage Rates in BC

Understand Discounted Rates and Understand the Possible Penalties.  The truth about the Best Mortgage Rates in BC. If it’s too good to be true it often is… Sometimes you’ll see a  you found a deeply discounted rate advertised in BC.  Is the broker local in Victoria or in another city

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NDP Government Changes BC Housing Landscape

The NDP provincial government has released its new budget. From a housing perspective here are the highlights (or lowlights depending on your perspective). 1. Speculation Tax This new, annual property tax will apply to foreign and domestic homeowners who do not pay income tax in BC, including those who leave

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