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Bank Of Canada Say What?

Bank Of Canada Say What?

Huge News! Huge, this is just huge… (it’s not) Last week the Bank of Canada lowered the ‘Benchmark’ rate from 5.34% to 5.19%, this is a number that: dictates maximum mortgage money access for those with less than 20% downto which the federal...
2019 Federal Budget – Gift wrapped… gift wrapping

2019 Federal Budget – Gift wrapped… gift wrapping

The Missing Link?    The missing link between home ownership and perpetual renting remains supply. Either supply of homes to purchase, or supply of money with which to purchase.   The 2019 Budget addresses neither of these supply issues....
BC Assessment vs. Market Value

BC Assessment vs. Market Value

Property Assessments vs. Market Value   Do not rely on your BC assessment for a fair market value of your property. The ‘assessed’ value was determined last July, your local market may have changed since then.   Do not rely entirely on a buyer’s opinion or a...
Variable Rate? To Lock In Or Not?

Variable Rate? To Lock In Or Not?

To Lock In or Not? This video applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then...
Subject Free Offers; Still Risky!

Subject Free Offers; Still Risky!

This week we discuss writing a Subject-Free offer, or perhaps not doing so.  Specifically we look at why you may want to cool your jets and have a detailed conversation about your plan with your Mortgage Broker well in advance of writing such an offer. As it turns out...
Clarity Re Portability

Clarity Re Portability

Many clients ask what they think is the right question when it comes to moving their mortgage to a new property and all too often it leads to an incomplete and sometimes devastating answer. Ask better questions, get better answers. Don’t ask ‘is my...
Why So Many Documents?

Why So Many Documents?

Why does the Mortgage Broker want so many docs? – we actually don’t.   Why does the Mortgage Lender want so many docs? – they actually don’t.   Who wants all these docs? Who is it that does not trust what you are saying? That would be...
Fixed Vs. Variable – Two Bets, One Choice

Fixed Vs. Variable – Two Bets, One Choice

An age old debate, but why? Click Here for the Video Explaination   If you are still wondering about fixed vs. variable – it’s pretty firmly all about the variable, even with the July 11, 2018 Bank of Canada 0.25% rate increase factored in. Click...
Fake-ish News

Fake-ish News

Fake(ish) News: ‘Mortgage Rates Went Up Last Week   Real News: On April 27th TD increased their ‘posted rate’. What’s a posted rate? It’s the list price, the MSRP — you know that price that nobody actually pays…’rack...
Vacant Possession

Vacant Possession

DISCLAIMER: This post is written for buyers, in other words people who do not currently own a tenanted property. This post is not suggesting in any way that the rights of an existing tenant be infringed upon.   For sellers reading this post, and perhaps realising...