The article in the link below is worth a read if you are concerned about interest rates. I personally agree with two of three points the author makes. #2….not so much, there definitely is some debate over this one.
- Inflation is virtually non-existent in today’s marketplace
- The pain would NOT be catastrophic (As explained in past posts)
- New Mortgage Rules are the ‘New Rates’ – (also explained in this post by a colleague)
Click below for the full story
CMHC Rule Changes
Traditionally – if the waters are rough, you do whatever you can to not rock the boat. CMHC today however has rocked the boat. The housing market has weakened over the last few months, due to the pandemic, but Canada’s largest default insurer is making it tougher for people to get a mortgage…
How to Get Financing during the COVID Pandemic
Most of you are going to be very angry at this post because it may seem like I am actually encouraging people to get out there and buy properties.As a matter of fact, anyone who calls me asking for financing options, the first question I ask them is: “Are you really going to be buying a property in the next 3 months?”
Variable Rate Update
During the start of the lockdown due to the COVID crisis, banks hiked their variable rates discounts to prime – 0%. At the time, we predicted that variable-rate discounts will improve significantly once again. Well, very slowly now, we are starting to see this happen.
Coronavirus related to your mortgage
Believe it or not, the coronavirus can have an impact on your mortgage and your interest rate in particular. Listen below to find out exactly how and why.
The Recent Bank of Canada Rate Increase- one broker’s thoughts
What about this recent Bank of Canada Interest Rate Increase? If your discount from Prime -which is now now 3.20%- is 0.50% or deeper – then the variable rate product remains a really great place to be. If your discount from Prime is 0.25% or less, then depending on which lender you are with you may consider…
Employment status Impacting Your Mortgage Qualification
If you are applying for a mortgage, the chances are that you are feeling confident about your current employment status and your ability to find a similar position if need be. Your employment is a key aspect of being approved for a mortgage…
The Truth about mortgage pre-approvals
Are we Pre-Approved? Not what you might think it means… Many clients think that having a mortgage pre approval puts them in a position to write offers on properties without inserting a ‘subject to receiving and approving financing’ clause in their contract.
April Real Estate Board of Greater Vancouver News
Here is a Quick Summary of the April stats for Real Estate In Greater Vancouver.
2017 Vancouver Real Estate Market
For quite some time now there has been a very limited supply of properties on the market and most Realtors that I speak with on a regular basis are starting to have buyers lineup. With very few properties to show these buyers, we are beginning to see similar trends that we saw a year ago.
Two main Reasons Rates Will Not Hit 5%
High borrowing rates are a relic. Canadian regulators may soon force borrowers to qualify at interest rates two percentage points above the contract rate. With many posted mortgage rates now approaching and even surpassing 3.00% (depending on the term), this means borrowers will soon need to show they can afford payments based on rates…