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15 02, 2018

Mortgage Renewal Strategies

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When it comes to your mortgage renewal, most people are unaware of how your lender treats your renewal versus if you are purchasing a property. Normally when you go to purchase a property your lender is happy to guarantee a rate for you for 3 – 4 months. This gives you the chance to obtain

23 01, 2018

House Prices in 2017

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House prices continued to climb last year in Canada although growth slowed in the latter part of 2017. The flurry of activity seen earlier in the year slowed as there was less inventory as well as some concern over new mortgage rules and how they would affect house prices. Below is a summary of

19 12, 2017

Mortgage Rates Flatten

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Mortgage Rates have risen slowly over the last half of this year. The Prime rate has increased by ½% and fixed rates have increased by approximately ¾% in the latter half of 2017. Over the last few weeks these increases have stopped and we have now seen mortgage rates flatten a bit with some

16 11, 2017

House Prices Remain Steady

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House prices remain steady as home sales were up during the month of October while supply was down. Sales were up 19% from last year and the average price of a residential home rose over 18% to $720,000. The chief economist for the BC Real Estate Association Cameron Muir says a lack of supply continues

23 10, 2017

Mortgage Rule Change Coming

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It’s official that another mortgage rule change is coming. Last month we wrote about all of the changes that have occurred over the last 8 years. Now we have received word that the biggest mortgage rule change is coming on January 1st. The government has announced that anyone with 20% down will now have

15 09, 2017

Biggest Mortgage Rule Change

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Since the market crash of 2008 the government has introduced many mortgage rule changes to tighten up lending and to contain home prices. During this time period they have failed to address the ease with which consumers can obtain unsecured debt which is the real problem that ultimately hurts consumers. This fall they are

14 08, 2017

Mortgage Refinance Opportunities

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Home prices have continued to rise in 2017 in the lower mainland of BC much the same as they did in 2016. However, in the last couple of months we have seen prices flatten a little. Inventory is still low however, we are seeing more buyers sitting on the sidelines waiting to see what

18 07, 2017

What does the Rate increase mean

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Last week the Bank of Canada announced a rate increase of .25% to their lending rate and the Banks quickly followed and increased their rates to match the .25% increase. With the rate increase most banks now have a prime rate of 2.95%. What is interesting to note is that last year when the Prime

19 06, 2017

Household Debt drops a little

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You may have heard the phrase household debt constantly in the news over the last two years. Repeatedly, we have heard warnings that household debt is at all-time highs and is unsustainable. However, this quarter there was a slight reversal as the amount Canadians owe compared with their income dropped in the first quarter

11 05, 2017

Money Saving Tips on Mortgages

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In this infoletter we have share our top four money saving tips on mortgages. These tips can shave years off of your mortgage and potentially save you tens of thousands of dollars in interest. Biweekly versus monthly payments Making your monthly payments as stated on your mortgage contract will pay off your mortgage in the