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2109, 2020

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

2608, 2020

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

308, 2020

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

606, 2020

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

1505, 2020

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

1504, 2020

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

2603, 2020

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

1303, 2020

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

2502, 2020

Stress Test Changes Coming

The Government of Canada recently announced changes to the stress test rate used to determine the minimum qualifying rate for insured mortgages. Currently all insured mortgages (purchases with less than 20% down) qualify at the Bank of Canada 5 year Benchmark Posted Rate. This rate is currently 5.19%. So borrowers have to qualify at

1501, 2020

Home Sales Stats for 2019

Home sales for 2019 got off to a slow start in the first half of the year but recovered as the year went on. Here are some of the most notable stats for the year from the Canadian Real Estate Association. National home sales declined by 0.9% on a month-over-month basis in December. Actual

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Exciting Promotion at YMS!

YMS Dinner on Us Program

YMS Dinner on Us Program

Refer us to your family, friends or business associated and if we close a mortgage with them we will send you out for dinner on us.

Call us for more details.

As your Mortgage Advisor we are here to serve you throughout the term and life of your mortgage and not just in obtaining your initial mortgage.

If you currently have a mortgage or are looking for a new one we can help you with the following:

  • Change your payment date or frequency
  • Increase an existing mortgage
  • Make additional payments to your mortgage
  • Renew your mortgage
  • Add on another mortgage or line of credit to a property
  • Borrow unsecured loans or lines of credit
  • Purchase another property
  • Obtain life or disability insurance
  • Obtain term insurance
  • Any type of mortgage including purchases, refinances, construction, lines of credit, private mortgages, etc
  • Anything else you may need in regards to financing!

In almost ALL cases we are able to obtain the same or BETTER RATES than if you go directly to your lender yourself. This is the power of dealing with us as your mortgage advisor.

Regardless of what you need we are here to help you. Please CONTACT US RATHER THAN CONTACTING YOUR LENDER. We will help you or direct you to the right person who can take care of your needs.