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Mortgage Broker Victoria BC Trends

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Top 10 Most Common Real Estate Regrets

Could have, would have, should have! Learn from the most common mistakes people make when it comes to purchasing (or not purchasing) real estate so you can avoid the same regrets. 1. Misunderstanding the Buying/Selling Process According to a survey by the Real Estate Council of Ontario (RECO), 38 per cent of homeowners wished they had a …

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Which renovations go right to your bottom line?

Whether you are looking to buy a fixer-upper or renovate your existing home to improve the quality of life for you and your family, it’s worthwhile to understand which home renovations can help boost the value of your home and go straight to your bottom line. According to the Appraisal Institute of Canada (AIC), the …

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Update: Mortgage Changes Oct 2016

Breaking News – Qualification Guidelines Drastically Changed By now, you will have seen the October 3rd announcement from Finance Minister Morneau outlining mortgage insurance and qualification changes effective October 17 2016. To sum up the most important change to borrowers: All ‘insured’ mortgages will now need to qualify at the Bank of Canada benchmark rate, …

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The Bank of Canada’s key Interest Rate Remains Unchanged

The Bank of Canada’s key interest rate remains unchanged at 0.50%. The Bank of Canada is still anticipating a “substantial rebound” in the second half of this year as the economy gets a lift from federal spending, rebuilding from the Alberta wildfires and recovering oil production. The current rate is expected to stay where it …

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Real Estate and Rates Post Brexit and OSFI Tightening

The uncertainty created with Brexit, in which Britons voted to leave the European Union, will keep interest rates low in the U.S. and Canada well into 2019 according to most economists. The impact on Canada for both its real estate markets and interest rates looks bright.  Foreign money, in search of stable, safe havens for …

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These 4 Mortgage Features Will Help You Save Money

Many people search for the lowest mortgage rate. However, there are many other mortgage terms that need to be considered before committing to that low teaser rate. On average, home owners need to make adjustments to their mortgage every 3 years. Here are 4 other money saving aspects that need to be considered: Early Payout …

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5 Things Your Mortgage Broker Wishes You Knew

By Jamie Wiebe The financial side of home buying can sometimes feel like a nightmare in which you’re stuck in a calculus final that never ends—and you’ve forgotten the meaning of everything. PITI (or principal, interest, taxes, insurance)? Prepayment penalties? Contingencies? “Confusing” is an understatement. We’re the first to admit that looking for a house is lots of fun—but paying …

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The oil price crash is over — let the recovery of Alberta’s hard-hit economy begin

Gary Lamphier, Postmedia News The crash is over. Now the rebuilding of Alberta’s energy-fired economy begins. After a brutal 75-per-cent plunge between June 2014 and early February of this year, crude oil prices appear to have begun the long and painful march toward recovery.   The April futures contract for West Texas Intermediate (WTI), the …

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Measuring the TSX Index: What the Data Tells Us About Canada

We love mining, might be sexist, and other things we learned in our nerd’s guide to Canada’s benchmark stock index. By Nathan Epstein We love geeking out on numbers at Wealthsimple. One of the numbers people ask me about a lot is the TSX Composite Index. When people talk about “how the stock market is doing” …

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Top Tax Takeaways: Everything you need to know about how your finances have changed since the budget!

Rob Blackstien, Special to Financial Post | March 24, 2016 | Justin Trudeau and the Liberals surged to power in the last federal election largely based on a platform that promised tax cuts for the middle class and higher taxes for the wealthy. Now that the details of their personal income tax changes are clearer, …

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Sunny days! We Expect a Great Spring Market

It’s true the uncertainty in the economy is making some Canadians anxious about their financial security. But the current environment is also creating opportunities, given that we expect another year of record-low mortgage rates. Don’t let fear drive your decision making, focus instead on your current situation and your long term goals. Here are some …

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