The spring homebuying season has arrived early in the Fraser Valley, and it's bringing exciting opportunities for local homebuyers and homeowners. Major Canadian banks are slashing mortgage rates across the board, creating one of the most competitive lending environments we've seen in months. This rate
The Bank of Canada (BoC) has cut its overnight lending rate for the seventh consecutive time, bringing it to 2.75%. This represents a full 225 basis point decrease since the central bank began its cutting cycle in June 2024. But what does this rate cut
Starting November 21, 2024, there are some major changes to the mortgage rules. The Office of the Superintendent of Financial Institutions (OSFI) is eliminating the stress test for uninsured mortgage renewals. This will allow borrowers to move to another lender at renewal time as
As a Mortgage holder, it is crucial to understand the history of mortgage rates and how they are influenced. Mortgage rates play a significant role in determining the affordability of houses and the cost of borrowing. In this blog, we will highlight past rate trends
Recently we have seen movement down in the bond markets, and therefore this could lower mortgage interest rates. This is due to economic data that has come out showing core inflation is subsiding. This is very early information but it appears that the Bank of
Since the news broke that the Bank of Canada has raised the prime rates by 0.75%, bringing us up to a total increase of 3% since the beginning of 2022, there has been a lot of talk of trigger rates. Many predict that we will
Recently, we have noticed many of our clients favouring a variable rate mortgage over a fixed rate. With interest rates climbing for much of the first half of 2022, it’s no surprise that many people are choosing the historically lower variable rate in order to
A common question that we hear a lot is what the difference is between a fixed-rate and a variable-rate mortgage. Here we will break down the terms for you to help you make your decision between the two types of mortgages. FIXED RATES A fixed-rate
There can be so many reasons why people update their mortgage but these are the ones we see the most. Consolidation of Debt Because mortgages are secured loans, they have lower interest rates than other sources of credit, like credit cards or personal loans. They
How many times have you seen an advertised interest rate and been disappointed that what was advertised does not apply to you? Our team wants to break it down for you and explain how there are different rates for every type of mortgage and how
