Complete our mortgage application in 5 minutes.
Should you Refinance right now
With mortgage rates at all time lows we have many clients calling us and asking if it is worth it to refinance their current mortgage. We are happy to do an analysis for anyone to let them know whether or not it is worth it to refinance. In some cases it is and in
CERB Benefits Changing
The Canada Emergency Response Benefit (CERB) ends when you’ve received 28 weeks of benefits or on October 3, 2020, whichever comes first. For those who applied through the Canada Revenue Agency, the last four-week period for the CERB was August 30, 2020 through September 26, 2020. However, you can still apply for the CERB
First Time Home Buyers Information
First time home buyers in British Columbia have several benefits available to them when buying a home. As a mortgage broker our goal is to make sure you can take advantage of these opportunities available to ensure you can purchase a home and try and utilize all of the advantages available to you. Property Transfer
Record Home Sales in July
The Fraser Valley Real Estate Board saw the second-highest number of both property sales and new listings ever recorded in July. There were a total of 2,100 sales in July, an increase of 22.2 per cent compared to sales in June and an increase of 44 per cent compared to the 1,458 sales during
House sales rebound in June
The Fraser Valley real estate market saw a resurgence in activity in June as house sales in the Fraser Valley more than doubled in one month as buyers return to the market. The Fraser Valley Real Estate Board (FVREB) processed a total of 1,718 sales in June which was an increase of 113 per
CMHC Mortgage Rule Changes Coming
Below is a brief analysis of the recently announced CMHC changes from our national head office. CMHC announced more restrictive underwriting criteria that will apply to new applications for homeowner purchases effective July 1, 2020. We recently argued against tinkering with mortgage underwriting criteria in light of the COVID-driven housing market slowdown. While we
Mortgage Rates Reverse Direction
After seeing mortgage rates increase for about a month due to market conditions they started coming back down in the last few weeks. With the onset of Covid-19, investors and lenders became nervous and the money supply tightened forcing rates to increase. In fact, we saw rates increase over ½% in the first few weeks
Mortgage Qualification Tightening
With the Covid-19 virus in full swing there has been a wild ride in the mortgage market of late. This has included mortgage qualification rules tightening along the way. Changes are happening on almost a daily basis. We saw Prime Rate drop 3 times in a month and then lenders get rid of their
Prime Rate Drop not passed along to consumers
The Bank of Canada dropped its’ overnight rate twice in the last few weeks for a total cut of 1.00%. The banks and other lenders in Canada previously held their Prime Rate at 3.95% and followed suit accordingly dropping their Prime Rate to 2.95%. If you had an existing variable rate mortgage then you
Bank of Canada Lowers Rate Again
The Bank of Canada announced today another ½% cut to its’ overnight lending rate in order to try and minimize the potential effects from the coronavirus. This was an unscheduled rate cut as they normally would not have held a meeting at this time. It remains to be seen as to whether or not