As announced by the Office of the Superintendent of Financial Institutions (OSFI) and the Department of Finance, a new minimum qualifying rate will be used for all mortgages, effective June 1, 2021.  The revised calculation of the minimum qualifying rate for both insured and conventional mortgages will be the greater of the contract rate plus […]

Olza T. I highly recommend The Walker Real Estate Team. My first experience at selling a home I loved for almost 20 years was made easier with Cindy’s support and positive attitude. She never allowed me to get discouraged. Thank you for doing such a great job Cindy. I called her a spitfire!

Real estate is an essential service and it is one of the most important economic drivers in BC’s economy. Physical distancing, virtual tools and strict personal safety protocols, yet we’re seeing more and more transactions happening daily. It’s important for buyers to note that prices overall remain stable. We are not seeing a lot of downward pressure,  because for many areas there is a shortage of inventory. We are even seeing multiple offer situations where buyers are paying asking price. When supply and […]

Longer term outlooks for the housing market are mixed, depending on which indicators are being considered. The gloomiest projections are coming from Canada Mortgage and Housing Corporation.  The agency expects it will be, at least, the end 2022 – nearly three years from now – before housing prices recover to pre-recession levels.  CMHC head Evan […]

The Bank of Canada has a new Governor.  And it could be said that everything old is new again. Current Governor Stephen Poloz will step down, as scheduled, at the start of next month.  He will be replaced by Tiff Macklem, an old hand at the central bank. Macklem is currently the dean of the […]

Mortgage Rate Update *2 year fixed @ 2.99% *3 year fixed @ 2.94% *4 year fixed @ 2.94% *5 year fixed @ 2.59% Receive cash bonus up to $2500 with your mortgage. *Variable Rate Mortgage @ prime – .20% prime rate is 2.45% *OAC, subject to certain conditions, rates may change without notice, call for a quote […]

1. Deferred mortgage payments are discretionary. Lenders maintain the legal right to timely repayment of their mortgages and mortgage payment deferral programs are offered at their sole discretion and each lender has different policies on how they handle these requests. Note: These programs are generally restricted to ‘Institutional” lenders only. Private mortgages do not qualify. […]