Bank of Canada Rate Announcement Jan 18th, 2017

Bank of Canada Rate Announcement Jan 18th, 2017

Looks like 2017 begins the same way 2016 ended, with the Bank of Canada announcing that it has maintained its target for the overnight rate at 1/2 percent. While the Bank Rate is correspondingly 3/4 of a percent, with the deposit rate holding steady at 1/4 percent as...
CMHC to Increase Mortgage Insurance Premiums in March 2017

CMHC to Increase Mortgage Insurance Premiums in March 2017

The Canadian Mortgage and Housing Corporation announced this morning that they will be increasing mortgage insurance premiums on March 17th 2017. They were quick to outline that the changes would only amount to roughly a $5 increase per month for borrowers. Which was...
New First Time Home Buyer Government Downpayment Loan Explained

New First Time Home Buyer Government Downpayment Loan Explained

On December 15th 2016, the Government of British Columbia announced that it was taking bold action on housing and that they had created a program to help first time home buyers get into the housing market. The program offers an interest free loan of up to $37,500 for...
Bank of Canada Rate Announcement Oct 19th, 2016

Bank of Canada Rate Announcement Oct 19th, 2016

With all the recent government activity meant to bring stability to the Canadian housing market (read cool down Vancouver and Toronto), its no surprise that the bank of Canada has decided against making any drastic changes to the overnight rate in their announcement...
Pre-Approvals: Qualify by October 17th

Pre-Approvals: Qualify by October 17th

14 Days to GO Starting October 17th all insured mortgages must undergo a “stress test” that ensures a borrower’s ability to make their mortgage payments at a higher interest rate. START HERE TODAY: Beat the clock by clicking here and let us help you...
Creating Stability in the Canadian Housing Market

Creating Stability in the Canadian Housing Market

This morning, Finance Minister Bill Morneau announced new housing measures, changes meant to alleviate risk in Canada’s current housing market. The measures include: Standardizing lending criteria for high- and low-ratio mortgages, including a mortgage stress...